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How One Rental Startup Gamed Airbnb

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Three years ago, an unusual real estate shopping spree among colleagues kicked off in Nashville, Tenn. 

Jay Roberts, the CEO and co-founder of a startup called Domio, purchased a newly constructed condo in the city’s North Nashville neighborhood with his then-girlfriend. A few days later, 24-year-old Adrian Lam, chief strategy officer and co-founder of Domio, bought the home directly across the street with his father. Within a month, Domio—a business that converted apartments and homes across the country into accommodations for tourists—listed both of the properties for rent on Airbnb. 

Over the next year, three other Domio employees also bought homes in Nashville, and Domio listed them for rent on Airbnb as well.

Source: https://www.theinformation.com/articles/how-one-rental-startup-gamed-airbnb

Private Equity

Boston startups expand region’s venture capital footprint

This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth […]

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This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth mode, and investors back into the check-writing arena.

Boston has been an exemplar of the trend, with early pandemic caution dissolving into rapid-fire dealmaking as summer rolled into fall.

We collated new data that underscores the trend, showing that Boston’s third quarter looks very solid compared to its peer groups, and leads greater New England’s share of American venture capital higher during the three-month period.

For our October look at Boston and its startup scene, let’s get into the data and then understand how a new cohort of founders is cropping up among the city’s educational network.

A strong Q3, a strong 2020

Boston’s third quarter was strong, effectively matching the capital raised in New York City during the three-month period. As we head into the fourth quarter, it appears that the silver medal in American startup ecosystems is up for grabs based on what happens in Q4.

Boston could start 2021 as the number-two place to raise venture capital in the country. Or New York City could pip it at the finish line. Let’s check the numbers.

According to PitchBook data shared with TechCrunch, the metro Boston area raised $4.34 billion in venture capital during the third quarter. New York City and its metro area managed $4.45 billion during the same time period, an effective tie. Los Angeles and its own metro area managed just $3.90 billion.

In 2020 the numbers tilt in Boston’s favor, with the city and surrounding area collecting $12.83 billion in venture capital. New York City came in second through Q3, with $12.30 billion in venture capital. Los Angeles was a distant third at $8.66 billion for the year through Q3.

Source: https://techcrunch.com/2020/10/23/boston-startups-expand-regions-venture-capital-footprint/

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Venture Capital

The Information’s 411 — Quibi, We Hardly Knew Ye

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Latest Briefs

Female Exec Exodus at Netflix Continues

By Jessica Toonkel &· Oct. 23, 2020

Former TiKTok CEO Mayer Says Moderators Can’t Keep up With Content

By Christopher Stern &· Oct. 23, 2020

Huawei’s Revenue Growth Slows Amid U.S. Sanctions

By Juro Osawa &· Oct. 23, 2020

Source: https://www.theinformation.com/articles/the-informations-411-quibi-we-hardly-knew-ye

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Venture Capital

Tech Firms Leapt Into Remote Work. Now Comes the Hard Part

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Over the summer, Zillow Group joined a swarm of companies telling employees they would never have to return to their offices on a regular basis. This marked a reversal for the online home-buying firm, which had leased some of Seattle’s most expensive real estate and added amenities like air hockey and pingpong. But after a few weeks working remotely in the early phase of the pandemic, most employees said they were happier working at home.

This week, Zillow CEO Rich Barton and his lieutenants took on a more complicated task—explaining to the company’s 5,500 employees how it will implement the new policy after the pandemic wanes, when about 35% of Zillow’s staff are expected to work from offices at least occasionally. In doing so, Barton, like other tech CEOs, must grapple with competing employee and business needs, with little visibility into what works best.

Many employees at Zillow and other companies don’t want to return to a Monday-to-Friday office commute. Yet managers know remote work can make it harder for employees to collaborate and, especially for working parents, get their jobs done.

Source: https://www.theinformation.com/articles/tech-firms-leapt-into-remote-work-now-comes-the-hard-part

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