Redfin CEO: 'The housing market could get worse'

ADVERTISEMENT
SPONSOR MESSAGE: Hear the latest news, and dive deep into AWS products and solutions: Attend in-person or virtually.

TODAY'S TOP STORIES

After announcing a 13% workforce cut — its second layoff this year — Seattle real estate giant Redfin reported third quarter earnings.

  • "The housing market could get worse,” Redfin CEO Glenn Kelman (above) said on the earnings call. In a memo to employees, Kelman said the market in 2023 “is likely to be 30% smaller than it was in 2021.”

Other real estate tech companies are also slashing staff in an effort to cut costs.

  • Flyhomes laid off workers for the second time this year. Founded in 2016, the Seattle startup helps people buy homes using a cash offer program which presents customers as the equivalent of cash buyers.

In other news: Paul Allen’s art collection is a record-breaker at auction.

  • The late Microsoft co-founder’s impressive lot of paintings and other artwork fetched more than $1.5 billion on the first day of a sale at Christie’s New York.

Tech Moves:

  • Seattle biotech giant Seagen hired David Epstein, a former exec at Novartis, as its new CEO, replacing Seagen co-founder and longtime CEO Clay Siegall, who resigned earlier this year following allegations of domestic abuse.

Maybe that orbital starship factory isn’t that far off after all.

  • Just three years after it was founded, a Tukwila, Wash.-based startup called Starfish Space is putting the pieces in place to demonstrate how a low-cost satellite can hook up with other spacecraft in orbit.

Are you a parent and worried about what your child is looking at online?

  • Seattle startup BrightCanary, founded by two entrepreneurs who sold their last company to T-Mobile, offers an app that alerts parents when inappropriate content is being watched. It just raised a $4 million seed round

An outdoor sleeping gear maker is not resting on its success.

  • Seattle-based Hest is raising more cash to fuel continued growth for its high-tech camping mattresses and pillows. 

TikTok has become a major force in L.A.'s culinary world.

Thanks for reading, and have a great day. — GeekWire managing editor Taylor Soper, taylor@geekwire.com, and GeekWire reporter Kurt Schlosser, kurt@geekwire.com
SPONSOR MESSAGE
Live tech and love life in Calgary

Calgary is the place where bright minds and big ideas come together with an unmatched spirit to help solve global challenges. As the third most livable city in the world and a top tech job market in North America, you can build a life – and a game-changing career – of adventure and opportunity here. Visit LiveTechLoveLive.com.

Copyright © 2022 GeekWire LLC, All rights reserved.
You are receiving this email because you opted to receive emails from GeekWire LLC.
 
Our mailing address is:
GeekWire LLC
123 NW 36th St, Suite 203
Seattle, WA 98107
 

Older messages

Redfin to cut 13% of workforce and shut down home-flipping business RedfinNow

Thursday, November 10, 2022

Breaking News from GeekWire GeekWire.com | View in browser BREAKING NEWS Redfin will wind down its home-flipping program RedfinNow and lay off employees for the second time this year as the Seattle-

Meta layoffs ripple through Seattle region | Seattle not approving of approval voting

Thursday, November 10, 2022

Redfin cutting workforce, shutting down home-flipping business | DoorDash and Gemini expand in Seattle ADVERTISEMENT GeekWire SPONSOR MESSAGE: Hear the latest news, and dive deep into AWS products and

GeekWire Mid-Week Update, Presented by ALLtech

Thursday, November 10, 2022

Read the top tech stories so far this week from GeekWire Top stories so far this week Meta layoffs ripple through Seattle region, taking some of the luster from 'Silicon Valley North' Mark

Politics and the workplace | The story behind those ‘Homelessness’ billboards in Seattle

Tuesday, November 8, 2022

Re-watch the lunar eclipse | Twitter lays off 208 people in Seattle | Election misinformation ADVERTISEMENT GeekWire SPONSOR MESSAGE: Hear the latest news, and dive deep into AWS products and solutions

More than 200 Twitter employees in Seattle laid off as part of larger cuts

Monday, November 7, 2022

Breaking News from GeekWire GeekWire.com | View in browser BREAKING NEWS Twitter is laying off 208 Seattle-based employees as part of widespread job cuts at the social media giant now owned by Elon

[BREAKING] - Pelosi Can’t Quit Because Of This Reason…

Saturday, November 26, 2022

Here's What Happened Please read orunsubscribe here Conservative News [BREAKING] - Pelosi Can't Quit Because Of This Reason… And Biden Lets Them? Here's What Happened >>> Learn

How FTX, Alameda Lost Billions | $477 Million FTX Hack

Saturday, November 26, 2022

Also: How Sam Bankman-Fried Sold The Bahamas An Empty Crypto Dream Also: How Sam Bankman-Fried Sold The Bahamas An Empty Crypto Dream View in browser FTX TOP CREDITORS TO KEEP ANONYMITY FOR NOW The

What we’re thankful for in tech, business, and science this year

Saturday, November 26, 2022

Black Friday online sales hit record $9.1B | Marketplace companies push back on tax code revision ADVERTISEMENT GeekWire SPONSOR MESSAGE: Hear the latest news, and dive deep into AWS products and

Weekender: Google Shares the Top 100 Most Searched Products of 2022

Saturday, November 26, 2022

Nov.​ 26,​ 2022 Sign up | Forward Social Media Today's studioID BROUGHT TO YOU BY — Social Media Today's studioID Key Strategies for Holiday Success This holiday season, consumers are looking

[DEVELOPING] - The Southern Border Could Be Biden’s Doom…

Saturday, November 26, 2022

Here's What Happened Please read orunsubscribe here Conservative News [DEVELOPING] - The Southern Border Could Be Biden's Doom… And Biden Lets Them? Here's What Happened >>> Learn

YOU LOVE TO SEE IT: Amazon Ordered To Cease And Desist

Saturday, November 26, 2022

Also, Los Angeles' “Mansion Tax” officially wins, food delivery workers get a pay boost, and Oregon pardons marijuana offenses. YOU LOVE TO SEE IT: Amazon Ordered To Cease And Desist By Ricardo

Did You Miss This?

Saturday, November 26, 2022

View in browser This Thanksgiving... For The First Time Ever Get 90% Off Forbes Investing Bundle With levels of inflation not seen in 40 years, unpredictable Fed rate hikes, global security concerns

Your new crossword for Saturday Nov 26 ✏️

Saturday, November 26, 2022

Challenge yourself — and your friends — with our latest crossword. We have six new puzzles teed up for you this week. Play the latest Vox crossword right here, and find all of our new crosswords from

Weekend Briefing No. 459

Saturday, November 26, 2022

A Saturday morning briefing on innovation and society. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

German Gold Heist, Walmart Gunman, and the Oldest Living Cat

Saturday, November 26, 2022

Facts, without motives. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌