SoftBank is making a big bet on real estate tech. The Japanese telecom giant invested $450 million in Compass, a $2.2 billion real estate company shaking up the industry. Rob Lehman, Chief Revenue Officer at Compass, was with us to discuss what the deal means for the company.
With investments ranging from Uber to WeWork, SoftBank is one of the most influential investors in the tech community. Lehman explains that his company appealed to SoftBank because they recognized a technology gap in the real estate market that Compass was filling. He also points out Compass was an attractive investment because real estate is the largest asset globally.
With the new funding, Lehman says the company will focus on growth and continued investments in technology. When it comes to emerging technologies, Compass doesn't have plans for virtual reality. Instead, the company is more focused on artificial intelligence, says Lehman. In addition to technology, the new funding will go to breaking into tier one cities such as Atlanta and Phoenix, he adds.
Johnson & Johnson's consumer-health unit Kenvue made its debut on the New York Stock Exchange and jumped about 20% on Thursday. Thibaut Mongon, CEO of Kenvue, joined Cheddar News to discuss business growth goals and what lies ahead for its well-known pipeline of products, including Band-Aid, Neutrogena, Tylenol, among others.
Cheddar News' reporter Angela Miles reports from the Cboe floor with Scott Bauer, CEO of the Prosper Trading Academy, to break down Apple, Moderna, and Datadog earnings for options traders.
Billionaire Stephen Deckoff's SD Investments has purchased two islands in the U.S. Virgin Islands that were previously owned by the late sex criminal and human trafficker Jeffrey Epstein.
Two 10-year-olds are among 300 children who worked at McDonald's restaurants illegally, a Labor Department investigation of franchisees in Kentucky found.
U.S. regulators say Facebook misled parents and failed to protect the privacy of children using its Messenger Kids app, including misrepresenting the access it provided to app developers to private user data.
