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Opendoor CEO Eric Wu. Photo: Bloomberg

Markets Real Estate

Opendoor Rides SPAC Deal to Lofty $18 Billion Valuation at Market Debut

By Cory Weinberg · Dec. 21, 2020 6:00 AM PST · 2 comments

Venture-backed real estate startup Opendoor will start trading as a public company today, after its merger with a special purpose acquisition company closed Friday. Even before trading begins, the deal has inspired the kind of investor frenzy that surrounds the hottest IPOs. By Friday afternoon, investors had bid up the stock price of the SPAC... Venture-backed real estate startup Opendoor will start trading as a public company today, after...

Illustration by Scotty Reifsnyder

Startups Uber/Lyft

Kalanick’s CloudKitchens, Ideal Bet for Pandemic, Hits Snags

By Amir Efrati · April 20, 2020 7:02 AM PDT · 4 comments

This should be Travis Kalanick’s moment.The Uber co-founder not only sold out of Uber ahead of the pandemic that has cratered that company’s ride-hailing business, but switched his money and energy to a real estate startup that leases space to restaurants for meal preparation. The firm, CloudKitchens, is well positioned to benefit... This should be Travis Kalanick’s moment.The Uber co-founder not only sold out of Uber ahead...

Magic Leap CEO Rony Abovitz. Photo by Bloomberg.

The Reality Behind Magic Leap

By Reed Albergotti · Dec. 8, 2016 2:46 PM PST · 10 comments

Plantation, Florida—In a massive, nondescript office complex far from the hustle of Silicon Valley, Magic Leap has become one of the hottest companies in the world of “mixed reality,” creating a headset that shows people images overlaid against the real world—like a cartoon-like firefly that controls a real-life lamp by... Plantation, Florida—In a massive, nondescript office complex far from the hustle of Silicon...

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A depiction of the Lightship VPS scanning process. Credit: Niantic.

Niantic’s New Social AR Tool; Meta’s Improved Room Mapping

By Mathew Olson · May 24, 2022 11:00 AM PDT

Niantic today launched its new visual positioning system for the Lightship AR platform, a tool that promises to make it easier for developers to deliver localized and persistent AR content in their apps. Niantic also unveiled today something even more intriguing: Campfire, a social tool coming first to the AR game Ingress. The company plans to... Niantic today launched its new visual positioning system for the Lightship AR platform, a tool...

Utah senator Mike Lee, who led the introduction of the bill into the Senate. Photo by Bloomberg

Google Breakup Bill Shows Real Threat Facing Tech

By Martin Peers · May 19, 2022 5:00 PM PDT

It’s never easy to differentiate, amid the hubbub of the day, a news item with far-reaching ramifications from something that will disappear into the ether. That’s particularly the case when we’re talking about bills introduced into Congress, which much of the time never seem to go anywhere. But the introduction today of legislation that would... It’s never easy to differentiate, amid the hubbub of the day, a news item with far-reaching...

Art: Mike Sullivan

Creator Economy

Real Estate Agents Turn TikTokers; Picsart Layoffs; Twitter’s Exodus

By Mahira Dayal · May 17, 2022 2:59 PM PDT

TikTok is changing the housing market. The #nycapartments hashtag on the ByteDance-owned app has more than 100 million views; #apartmenttour has 1.3 billion. With that kind of visibility, real estate firms and agents are increasingly setting up TikTok accounts, often as a way to reach Gen Z and millennial buyers, who together make up 39% of home... TikTok is changing the housing market. The #nycapartments hashtag on the ByteDance-owned app has...

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