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Real estate giant Redfin beats Q2 estimates with $214M in revenue; CEO says ‘we’re inside a tornado’

GeekWire

Seattle-based real estate company Redfin topped Wall Street estimates for its second quarter earnings , reporting $214 million in revenue, up 8%, and a net loss per share of $0.08. The real estate market is on a roller coaster this year as buying activity slowed due to the pandemic but has rebounded in recent months.

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Redfin beats Q3 estimates but stock dips; CEO says company’s tech is a ‘passport to a new life’

GeekWire

Revenue was down 1% year-over-year while net income more than quadrupled. “Redfin’s increasing share of North America’s online real estate audience, coupled with a strong housing market, has generated demand faster than we can recruit agents, lenders and partners,” Redfin CEO Glenn Kelman said in a statement. .

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Redfin CEO says strength of housing market ‘almost feels eerie’ amid economic and health crisis

GeekWire

The Seattle real estate company laid off 7% of its staff and furloughed hundreds of agents in April as the COVID-19 outbreak began spreading. Redfin topped Wall Street estimates for the quarter , reporting $214 million in revenue, up 8%, and a net loss per share of $0.08. Redfin CEO Glenn Kelman at the 2018 GeekWire Summit.

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Q&A with former Zillow CEO Spencer Rascoff on his new SPAC that just raised $350M

GeekWire

He helped launch Zillow in 2005 and led the Seattle real estate giant through an IPO in 2011. It could be in a number of different sectors in tech — direct-to-consumer, e-commerce, ad tech, B2B software, e-commerce marketplaces, real estate, travel. We intentionally kept this pretty broad in order to cast our net wide.

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Seattle startup founders, investors react to new state capital gains tax that targets stocks

GeekWire

The law imposes a 7% tax on capital gains of more than $250,000 from the sale of stocks and bonds, excluding revenue from real estate and retirement accounts, among other exceptions. The tax sparked controversy within the tech industry because it targets stocks, a key part of compensation for many startup founders and their employees.

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Seattle approves new city budget that plugs shortfalls with surplus revenue from business tax

GeekWire

“The social and economic benefits of this decision will be felt by families and entire communities in the city.” On top of that, the city released estimates in November that predict a net decreases of $64 million in the Real Estate Excise Tax, $9.4 million from the General Fund, and $4.5

Budget 101
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Book excerpt: How tech and government can spin the flywheels of equitable prosperity together

GeekWire

Even though the economic flywheel has provided jobs and created wealth for spending and investment in leading tech cities, it has not solved the social challenges of homelessness, inadequate education, public safety, and transportation. Finding common understanding. Of course, it was never this tidy.