World News
Seoul-based proptech Dongnae acquires co-living platform Dears on August 8, 2023 at 6:13 am
Proptech startup Dongnae said Tuesday it plans to acquire Stevens, a South Korean company that operates co-living business Dears.
The two companies did not disclose the acquisition price, but Dongnae said it will purchase Stevens with a mix of cash and equity. The Seoul-based proptech outfit previously raised a total of $34 million, including a $21 million Series A round it announced last year. Dongnae expects to close the transaction by the end of September. The company’s investors include the likes of NFX, Daol Investment, Hana Financial, MetaProp, Maple VC and WeWork co-founder Miguel McKelvey.
Dongnae’s primary product, Dongnae FLEX, offers a furnished apartment rental on its platform with flexible lease terms for as short a period as four weeks and lower rental deposits.
The addition of Dears will allow the company to upgrade the Dongnae FLEX service, manage properties “with a collective AUM of over $400 million,” and span 90 apartment complexes across Seoul and Pangyo, where a host of tech firms, including Kakao and Naver, are located. Dears Pangyo has more than 520 studio flat units in Pangyo.
The outfit also will co-manage the Dears Myeongdong building in Seoul alongside Xi S&D. Dongnae will manage commercial spaces of Dears Myeongdong, consisting of B1, 14F and the rooftop, co-founder and CEO Matthew Shampine said, adding that Xi S&D will operate Dears Myungdong’s 112 units that offer both short- and long-term stays.
Dongnae says this is its first acquisition. The current leadership team at Stevens will join Dongnae to support expansion and continue to build on their progress to date, Shampine told TechCrunch.
“We are in active discussions with a number of landlords and land developers to open more buildings to be operated as and through Dongnae,” Shampine said.
Former WeWork executives Shampine and Insong Kim co-founded Dongnae in 2020 to digitize South Korea’s fragmented real estate market. In South Korea, people have to work with dozens of brokers to find a new home, and there are two options to pay rent in the country: paying a monthly fee (just like in many parts of the world) and paying everything in advance, called Jeonse.
“Since our Series A in March of 2022, we have been focused on growing our real estate portfolio, getting customer feedback, and building the necessary front- and back-end technology to truly create a better way to rent homes in Korea,” Shampine said.
The company has invested “heavily” in enhancing the customer experience since last year. The outfit says it has digitized the entire procedure instead of the typical long, paper-filed leasing process and launched its own digital real estate consultant Suzie by integrating artificial intelligence into its platform. Like a chatbot, Suzie answers prospective residents’ questions about housing or Dongnae’s units in any spoken language.
“From Adam Neumann’s Flow and companies such as Mint House, Zeus Living, and Blueground in America to Asian and European startups like Cove and Habyt — there has been great innovation in the residential rental market around the world over the past few years,” Shampine said in a statement. “Our team is committed to bringing about a better way to rent here in Korea.”
Dongnae’s application is now available for download on Android and iOS.
Proptech startup Dongnae said Tuesday it plans to acquire Stevens, a South Korean company that operates co-living business Dears. The two companies did not disclose the acquisition price, but Dongnae said it will purchase Stevens with a mix of cash and equity. The Seoul-based proptech outfit previously raised a total of $34 million, including a $21 million
News
Terror Attacks in New Orleans and Las Vegas Linked
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The start of 2025 has been marred by two horrific terror attacks in the United States, one in New Orleans and another in Las Vegas, both occurring on New Year’s Day. These incidents have left communities reeling and have raised concerns about potential connections between the suspects involved.
In New Orleans, a truck driven by 42-year-old Shamsud-Din Jabbar plowed into a crowd celebrating on Bourbon Street, resulting in at least 15 deaths and over 30 injuries. Eyewitnesses reported that Jabbar, a U.S. Army veteran from Texas, deliberately targeted pedestrians while flying an ISIS flag from his vehicle. Following the attack, he exited the truck armed with an assault rifle and opened fire on police officers before being killed in the ensuing confrontation. Authorities discovered improvised explosive devices (IEDs) within his vehicle and in the vicinity of the attack site, further confirming the premeditated nature of this act of terrorism.
Simultaneously, a separate incident unfolded in Las Vegas when a Tesla Cybertruck exploded outside the Trump International Hotel. The driver, identified as Matthew Livelsberger, also had a military background and was reported to have detonated the vehicle packed with firework mortars and fuel, resulting in his death and injuring seven others. Investigators are exploring whether Livelsberger and Jabbar had any prior connection, as both men served at the same military base at different times.
While the FBI has confirmed that they are investigating both attacks as acts of terrorism, they have not established a definitive link between the two incidents. However, similarities in their execution—both suspects rented vehicles from the same company—have prompted further scrutiny into their backgrounds and any potential accomplices.
As investigations continue, authorities are urging anyone with information about either suspect to come forward. The tragic events have sparked discussions about security measures in public spaces, particularly as cities prepare for large gatherings in the coming months.
Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters, filmmakers and actors. Our services now include acting classes. Additionally, we are introducing film reviews by experienced critics and professional press article writing covering industry news and trends. Whether you’re looking to craft compelling stories, enhance your acting skills, or gain insights into the film industry, our resources will equip you to thrive in this competitive field. Join us today to unlock your creative potential and bring your artistic vision to life!
Politics
Donald Trump Named TIME’s 2024 Person of the Year
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Donald Trump has been selected as TIME magazine’s Person of the Year for 2024, marking his second time receiving this distinction. The former president, who won a historic comeback victory in the 2024 election, was chosen for his significant impact on global affairs and American politics.
TIME editor-in-chief Sam Jacobs explained the decision, citing Trump’s “comeback of historic proportions,” his role in driving “a once-in-a-generation political realignment,” and his reshaping of both the American presidency and the country’s global role. This recognition comes after Trump’s unprecedented achievement of reclaiming the White House after losing reelection four years earlier.
The selection process involved an extensive interview with Trump at Mar-a-Lago in November, covering a wide range of topics including the economy, foreign policy, and his plans for a second term. Notably, TIME took the unprecedented step of publishing a comprehensive fact-check alongside the interview transcript, examining 15 distinct assertions made by Trump.
Trump’s relationship with TIME has been tumultuous over the years. While he expressed honor at receiving the title in 2016, he has also criticized the magazine’s selections and even claimed he refused a potential Person of the Year offer in 2017. Despite this, Trump participated in the process this year, granting TIME access for an in-depth interview.
To commemorate the announcement, Trump rang the opening bell at the New York Stock Exchange (NYSE). This event marked a significant moment in Trump’s career, as it was his first time participating in this Wall Street tradition.
Trump’s selection as Person of the Year reflects his continued influence on American politics and his ability to reshape the political landscape. As the country prepares for his return to the White House, all eyes will be on how Trump’s second term might further impact both domestic and international affairs.
Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!
Film Industry
Jay-Z Denies Allegations Amid Lawsuit
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Jay-Z, the renowned rapper and music mogul, faces serious allegations in a recently amended civil lawsuit. According to ABC News and NBC News, the suit accuses him and Sean “Diddy” Combs of raping a 13-year-old girl at an MTV Video Music Awards after-party in 2000.
The lawsuit, initially filed in October 2024, was updated on Sunday to include Jay-Z as a defendant alongside Combs. The plaintiff, identified only as “Jane Doe,” claims she was assaulted after being driven to the party following the awards show.
Jay-Z, whose real name is Shawn Carter, vehemently denies the allegations. He released a statement on X calling the lawsuit a “blackmail attempt” and questioning why it was filed as a civil case rather than a criminal one. The rapper expressed concern about the impact on his family, stating he and his wife Beyoncé would need to discuss the situation with their children.
Combs, who is currently in federal custody on separate charges, has also denied the accusations through his attorneys. The lawsuit alleges that an unidentified female celebrity was present during the incident but did not intervene.
The case has garnered significant media attention, with both artists’ reputations at stake. As the legal process unfolds, the music industry and public await further developments in this high-profile case.
Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!
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