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Clockwise from top left: Rob Speyer, Brendan Wallace, Tal Kerret, Joe Beck, Scott Rechler and Tom Hennessy

The definitive real estate SPAC tracker

Blink and you’ll miss a new SPAC. With billions of dollars flowing into blank-check firms, a growing number of real estate players are targeting proptech. As an alternative to the traditional IPO, special-purpose acquisition...

The definitive real estate SPAC tracker
Cousins Brian and Ben Friedman teamed up with a San Francisco Giants minority owner. (Getty, Friedman Capital)

Two SPACs seek $425M for proptech deals

 Another day, another SPAC. The latest is from Scott Seligman, a real estate investor and minority owner of the San Francisco Giants, who is teaming up with cousins Brian and Ben Friedman to raise...

Two SPACs seek $425M for proptech deals
Opendoor CEO Eric Wu (Twitter)

Opendoor revenue plummets 45% in 2020

 After Covid forced Opendoor into a five-month homebuying limbo in 2020, the newly public company is projecting a 45 percent drop in annual revenue.  The instant homebuying startup projected $2.58 billion in 2020 revenue,...

Opendoor revenue plummets 45% in 2020
Fifth Wall's Brendan Wallace (right) and Andriy Mykhaylovskyy (Fifth Wall; iStock)

Fifth Wall targets $250M for blank-check firm

Fifth Wall is officially in the SPAC market and looking to raise $250 million for a new blank-check company....

Fifth Wall targets $250M for blank-check firm
From left: American Express CEO Kenneth Chenault, Joshua Kushner, Richard LeFrak, Softbank CEO Masayoshi Son, Miki Naftali and Salesforce CEO Marc Benioff (Getty)

Compass’ IPO means payday for these investors

 Compass investors could be in line for a windfall when the residential brokerage goes public later this year. Since...

Compass’ IPO means payday for these investors
From left: Lionheart's Ophir Sternberg, Fifth Wall's Brendan Wallace, Chamath Palihapitiya, Supernova Partners' Spencer Rascoff and Proptech Acquisition II's Tom Hennessy (Getty, LinkedIn, iStock)

These blank-check firms are courting proptech deals

 It’s a good time to be a startup aspiring to go public. Investors plowed more than $83 billion into...

These blank-check firms are courting proptech deals
Fifth Wall’s Brendan Wallace and Brad Greiwe (Fifth Wall, iStock)

Fifth Wall to launch proptech SPAC

Fifth Wall, a prolific proptech investor that has backed VTS, States Title and Industrious, is joining the SPAC craze. The Los Angeles-based firm, which is already the best-funded proptech VC outfit, is raising money...

Fifth Wall to launch proptech SPAC
Clockwise from left: Softbank CEO Masayoshi Son, Social Capital CEO Chamath Palihapitiya, Opendoor CEO Eric Wu, Founders Fund partner Keith Rabois and Access Industries chairman Len Blavatnik (Getty; Opendoor; Founders Fund)

Here are the big winners from Opendoor’s IPO

 Opendoor’s IPO last month crowned CEO Eric Wu a billionaire. It quintupled the value of SoftBank’s stake to $2.3...

Here are the big winners from Opendoor’s IPO
Despite recurring losses, Porch was valued at $1.1 billion on its first day of trading. (Porch, Getty)

Porch valuation soars to $1B after IPO

After merging with a blank-check company, Porch.com is now a billion-dollar company. Despite recurring losses — which prompted accountants to raise red flags in the company’s IPO filing — the home-services startup made its...

Porch valuation soars to $1B after IPO
Opendoor CEO Eric Wu and Chamath Palihapitiya (Getty)

Opendoor valuation soars to $18B ahead of IPO

Even before Opendoor’s official stock market debut on Dec. 21, the iBuyer’s valuation soared to nearly $18 billion as...

Opendoor valuation soars to $18B ahead of IPO
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