Iintoo refurbishes the remains of the defunct RealtyShares

May 19, 2019
Share this Post: 

RealtyShares went under after it failed to acquire enough funding to keep the operation afloat.

The remnants of RealtyShares — the now-defunct crowdfunding platform — have been scooped up by another real estate firm.

New York-based iintoo acquired RealtyShares’ assets, Inman reported. The move boosts the company’s portfolio size to $2.5 billion assets under management from $1 billion, according to the company.

Current and former investors in RealtyShares will be able to access iintoo’s crowdfunding platform, the report said. The deal — terms of which were not disclosed — is a joint venture between iintoo and Texas-based real estate firm RREAF Holdings, LLC, which will manage the investment porftolio.

RealtyShares laid off the vast majority of its staff last year and failed to secure more funding.

The startup had raised more than $63 million from venture capital players like Union Square Ventures, Cross Creek, Hone Capital and Blue Mountain, as well as Starwood Capital’s Barry Sternlicht and Chinese firm Danhuan Capital. At the time, last-ditch efforts to find a buyer for the company failed.

Read more here

Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.

Miabannermay12

May 19, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1028952010
Immobiliare.it Agrees €22.5 Million Pisos.com Deal

Immobiliare.it has agreed to acquire Pisos.com for €22.5 million (USD 24.5 million) with the Italian portal set to double down...

Read More
Toutube Thumbtony Blamey 1
Fotocasa GM, Tony Blamey on Competing with Idealista and Finding a Path to Growth

Spain’s property portal market has long been dominated by Idealista, but Fotocasa is working to shift that impression. Under the...

Read More
Divar.ir 2
Iranian Military Cancels Marketplace Divar's IPO Application at Short Notice

Iranian horizontal marketplace Divar's IPO application has been halted after the intelligence segment of a branch of the Iranian military...

Read More
Zillow Financial 3
Zillow Executive Says "Consumers and Agents Being Misled" About Private Listings

A Zillow executive has weighed into the argument currently surrounding the National Association of Realtors (NAR) Clear Cooperation Policy (CCP)...

Read More

Editor's Pick