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PR Newswire

Renren Announces Signing of Amendment to Stipulation of Settlement Regarding Shareholder Derivative Litigation

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PHOENIX, May 28, 2022 /PRNewswire/ — Renren Inc. (NYSE: RENN) (“Renren” or the “Company“), a SaaS company, today announced that it has entered into an Amendment (the “Stipulation Amendment”) to the Stipulation of Settlement reached on October 7, 2021 (the “Initial Stipulation,” together with the Stipulation Amendment, the “Stipulation“). Capitalized but undefined terms used herein shall have the same meanings ascribed to them in Exhibit 99.1 of the Form 6-K furnished by the Company to the Securities and Exchange Commission on October 8, 2021.

The Court declined to approve the Initial Stipulation by order dated December 10, 2021, raising concerns about (i) certain objections raised as to the recipients of the settlement funds, (ii) the amount of requested attorneys’ fees, and (iii) the reversion to Renren of any remaining settlement funds. On May 27, 2022, Plaintiffs and Defendants, after additional negotiations, reached an agreement on certain modifications to the Initial Stipulation, including the definitions of “Final,” “Settlement Amount” and “True Up,” as well as a modification to the reversion provision, which provides for the distribution of remaining settlement funds. Plaintiffs and Defendants entered into the Stipulation Amendment with the purpose of reaching a new overall settlement of the entire Action (the “Settlement“).

As the Settlement remains subject to approval by the Court and the fulfillment of other conditions set forth in the Stipulation, which involve inherent risks and substantial uncertainties, there is no guarantee that the Settlement will be consummated as contemplated under the Stipulation or at all.

The foregoing summary of the Stipulation Amendment is qualified in its entirety by reference to the complete text of that document, which will be filed as an exhibit to the Form 6-K that the Company intends to promptly furnish to the Securities and Exchange Commission thereafter, attaching this press release as an exhibit thereto.

About Renren Inc.

Renren Inc. (NYSE: RENN) operates several U.S.-based SaaS businesses including Chime, an all-in-one CRM and sales acceleration platform designed to help real estate professionals close more deals faster, and Trucker Path, a suite of applications and dispatch services commercial truck drivers use to plan trips, navigate, and operate their business. Renren’s ADSs, each currently representing 45 Class A ordinary shares of the Company, are traded on NYSE under the symbol “RENN”.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Renren may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (the “SEC“), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Renren’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, which could cause actual results to differ from the forward-looking statements. In particular, as the proposed Settlement is contingent upon, among other things, obtaining the necessary court approval, the Company cautions investors that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Renren does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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Source: Renren Inc.

PR Newswire

Renren Inc. Filed 2021 Annual Report on Form 20-F

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PHOENIX, May 2, 2022 /PRNewswire/ — Renren Inc. (NYSE: RENN) (“Renren” or the “Company“), announces today that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 (the “2021 20-F”) with the Securities and Exchange Commission (the “SEC”) on April 29, 2022. The 2021 20-F can be accessed on the Company’s investor relations website at http://ir.renren-inc.com and on the SEC’s website at www.sec.gov. The Company will provide a hard copy of its audited consolidated financial statements contained in the 2021 20-F, free of charge, to its shareholders and ADS holders upon request. Requests can be directed to Renren Inc., 2828 N. Central Avenue Fl 7, Phoenix, Arizona, 85004 USA.

About Renren Inc.

Renren Inc. (NYSE: RENN) operates several U.S.-based SaaS businesses including Chime, an all-in-one CRM and sales acceleration platform designed to help real estate professionals close more deals faster, and Trucker Path, a suite of applications and dispatch services commercial truck drivers use to plan trips, navigate, and operate their business. Renren’s ADSs, each currently representing 45 Class A ordinary shares of the Company, are traded on NYSE under the symbol “RENN”.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Renren may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (the “SEC“), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Renren’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Renren does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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Source: Renren Inc.

PR Newswire

Qeeka Home Reports Solid Growth of 20.8% YoY in 2021

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The firm’s SaaS platform is driving an industry-wide digital transformation

SHANGHAI, March 28, 2022 /PRNewswire/ — On March 22, Qeeka Home (01739.HK, operator of Jia.com in China) (the “Company”), a SaaS enabled solution platform serving China’s interior design and construction (IDC) sectors, released its 2021 full-year financial results. For the past financial year, the Company reported revenue of RMB 1,107 million, a year-on-year increase of 20.8%, with net profit attributable to shareholders reaching RMB 74 million, surging 82.3% compared to the prior year.

The strong growth was a result of the success of Qeeka Home’s total SaaS-enabled strategy, a driver to an industry-wide digital transformation that has delivered higher overall efficiency and allowed the Company to redeploy the best of its resources to address the pain points and challenges facing the supply and demand sides in terms of the sales and delivery process, helping the Company realize robust growth.

Revenue increased 20.8% year-on-year, with huge potential in the market for housing stock

As an industry heavily dependent on physical operations, the home improvement sector has been hit hard by the recurring epidemic, especially in in-person scenarios such as home visits to take measurements as well as delivery and installation of the completed product. As China further tightens regulation and supervision of the real estate market, both the supply of new homes and the resale of existing homes have witnessed a significant downturn, affecting to various degrees the steady growth of the home improvement industry. To make matters worse, soaring prices of raw materials have led to a dramatic cost increase for stakeholders and an ever more competitive market. Taken together, many industrial players experienced growth stagnation and are facing the dilemma where profit margins decline despite an increase in revenue. The industry now stands at an inflection point where a transition to the market for existing housing stock is a must-do.

According to data from China Index Academy, the country’s property sales increased 1.9% year on year to 1.79 billion square meters in 2021, while investments in real estate development and new construction both witnessed a dramatic decline compared to the prior year. Yet when China’s substantial economic development and the increase in disposable income among consumers are taken into consideration, a step up in what shoppers expect from their home improvement initiative shows that demand for quality product is clearly on the rise. In response to the shrinking new housing market, renovating existing accommodations or upgrading newly purchased second-hand homes has proven to be an effective means of improving the quality of home life. Based on the calculation of planning the renovation of a home every 10 to 15 years, owners who purchased a home between 2007 and 2020 will be looking to improve at some point over the next 10 years. That 13-year period was a golden age for the country’s property market, pointing the way to a soon-to-begin similar golden age for the home improvement and renovation segment.

Despite the huge potential in the market for existing housing, there’s a very big difference between refurbishment of an older residence, partial improvement, and renovation of a more recently built home. Refurbishment of older buildings presents tougher challenges as such customers are more dispersed, their needs are more diversified while both the customer acquisition and necessary construction work are more challenging. In other words, to establish a presence in the market, installers need to shift from a “rough” business model to one that is much more refined, where customer expectations are met in all respects through upgrading of product quality, improvement in supply chain efficiency, optimization of organization management, strengthening of digital capabilities, and addition of quality-focused services.

As a leading platform in the industry, with superior data and technology capabilities, Qeeka Home has been committed to offering SaaS solutions and extended services to home improvement firms, helping them improve their abilities to manage their businesses, reduce operating costs and reap higher efficiency. The platform facilitated the standardization of the industry by developing relevant benchmarks and giving premium merchants the tools what they need to bring in more customers by upgrading its Qijia Bao consumer protection plan and launching a merchant star rating system. The data shows that the number of active paying merchants on the Jia.com platform rose by 18.3% year on year to 5,799 in 2021, including 2,242 newcomers. The merchant retention rate climbed to 73%, while the retention rate of new paying merchants reached 81%, representing strong growth across-the-board.

Despite the downward pressure faced by the industry, the Qeeka Home platform has served to empower home improvement firms as they cope with the uncertainty and the necessary upgrade process. The platform also acts as a stabilizer for the industry’s small and medium-sized merchants who need a powerful partner to get them through the rough patch. For the full year of 2021, Qeeka Home booked total revenue of RMB 1,107 million, a year-on-year surge of 20.8%, with gross profit amounting to RMB 590 million, up 14.0%. Net profit attributable to shareholders reached RMB 74 million, a significant increase of 82.3%, representing a solid growth.

SaaS strategy drives the transition to digitalization for installers

Due to inherent weaknesses, coupled with fierce competition, the industry saw a sharp rise in the number of firms that called it quits. Installers need to reduce costs and improve efficiency and the only way to get there is through digitalization. According to research data, the digitalization rate of the IDC industry right now stands a paltry 10%, with massive headroom for growth. As a long-established platform, Qeeka Home is poised to be the first choice among installers once they opt for a digital upgrade.

Qeeka Home’s offering covers two major business segments: the SaaS-based home improvement empowerment platform and a range of interior design and decoration brands. Revenue from SaaS and extended services totaled RMB 630 million for the year, up 17.3%. The growth of core businesses was, for the most part, driven by the steady advancement of its digitalization-focused SaaS-enabled strategy, including providing a one-stop solution that covers the gamut from marketing services to supply chain procurement assistance to innovative value-added services. The solution will help them cope with real-world problems and improve operational efficiency.

When it comes to digital marketing, Qeeka Home generates leads through its own brands, reputation and general recognition across the market, and helps installers convert prospects through big data matching and upgrading consumer protection products to enhance customer acquisition. In terms of supply chain empowerment, Qeeka Home has adopted a hybrid of centralized purchasing and new retailing, allowing firms to reduce back-end procurement costs and improve efficiency through digital processes.

As the bulk of potential customers shifts to Gen Z, online brand visibility and consumer reviews are going to become the determining factors when a purchase is made. To optimize the user experience, Qeeka Home has put much effort into making sure the platform delivers the most optimized shopper experience during the home improvement purchasing process. Ongoing positive reviews from shoppers led the platform to record a year-on-year increase of 8.3% in the customer demand rate in 2021, while the average marketing revenue per lead stood at RMB 707, up 7.6% year-on-year.

According to a report by the Lead-Leo Research Institute, second-hand housing and existing housing stock are expected to be the main drivers of the growing demand for home improvement in the future. This is a sign that acquiring and serving the customer have become much more difficult for installers, combined with a new set of expectations from consumers that have just entered the market. Digitalization is an inevitable must-do for industry growth, as online platforms will appeal more to future buyers than traditional home improvement firms. With the benefits that can be generated from digitalization literally staring the industry in the face, Qeeka Home has made it a top priority to meet the expectations of Gen Z shoppers, offer installers more empowerment initiatives based on the SaaS platform, further strengthen R&D and optimize the in-house organizational structure. All of these steps will go a long way in helping home improvement shoppers avoid making costly mistakes, while acting to fully protect the rights and interests of consumers as well as optimize the customer experience end-to-end, with the end goal being the realization of the Company’s vision of the satisfied customer who lives in a beautiful and comfortable home.

About Qeeka Home 

Qeeka Home (01739.HK, domestic operator of Jia.com) is one of the largest SaaS enabled solution platforms in Interior Design & Construction (IDC) Industry in China. The company provides marketing service, supply chain service and other innovative value-added services to thousands of IDC service providers through the SaaS platform. Qeeka also operates several well-known IDC brands in China and provides consumers with capital protection and independent inspection services. Qeeka Home was founded in 2007 and listed on the main board of HKSE on 2018.

For more information, please contact:

Qeeka Home
Phone: (+86) 021-61740163 
E-mail: ir@qeeka.com

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PR Newswire

Realsee Announced Partnership with Catalyze Solutions to Enable Digital Upgrading of Housing Service Sector in Canada

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BEIJING, Feb. 16, 2022 — On February 15th, 2022, Realsee, a world-leading space digitization integrated solution provider, and Catalyze Solutions, a Canadian real estate technology company, signed a partnership agreement. Both parties will further expand the application of such cutting-edge technologies like VR and AI in the Canadian housing service sector, boost the digital transformation of the sector and provide consumers with a better housing service experience.

With the challenges brought by worldwide pandemic, Catalyze Solutions, a modern real estate technology company committed to offering developers and brokers digital and personalized solutions, has been exploring new ways to find and inspect housing. With world-leading 3D reconstruction technology and space digitization capabilities, Realsee has become an important partner of Catalyze Solutions.

Powered by Realsee’s leading 3D reconstruction technology, Catalyze Solutions currently supports housing display in VR filmed by mobile phones. This technology allows real estate brokers to realize the VR-based maintenance of housing via mobile phones only, without the need for professional VR acquisition equipment. In addition, Realsee’s space digitization solutions, which are well-known in the Chinese market, will be realized in the real estate sales system of Catalyze Solutions, including VR-based housing inspection, AI-based housing introduction and VR-based housing display.

Steven Shen, Founder of Catalyze Solutions, said, "During this period when human beings are facing major tests and transitions, I want to stay true to my vision and cooperate with our partners to energize the real estate market and promote the digital transformation of the housing service sector in Canada through VR, AI and other space digitalization solutions, thus bringing consumers a better housing service experience and achieving mutual support and win-win cooperation."

"Our cooperation with Catalyze Solutions enables Realsee to provide such independent and portable services as VR acquisition, VR-based housing inspection and VR-based housing display in order to facilitate the digital upgrading of the real estate industry in Canada," said Wu Ge, General Manager of Business Development of Realsee. "In the future, Realsee will partner with more overseas real estate technology companies to facilitate the digital transformation of the real estate markets in various countries. All parties will complement each other’s advantages to jointly offer global consumers a better housing service experience and achieve mutual benefits and win-win results."

PR Newswire

Roofstock Launches Roofstock One, Allowing Investors to Build Customized Portfolios of Single-Family Rental Home Shares Online

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Accredited investors can now easily purchase shares representing interests in fully-managed rental homes for as little as $1,000

OAKLAND, Calif., Nov. 8, 2021 —  Roofstock, the leading digital real estate investing platform for the $4 trillion single-family rental home sector (SFR), today announced the next phase of Roofstock One, its targeted investing platform that gives accredited investors innovative access to this growing asset class. Roofstock One wraps all of Roofstock’s expertise and capabilities, including its deep data science, institutional-caliber research and skilled property acquisition and management services into a single, fully managed product. With Roofstock One, investors can buy shares representing interests in rental homes across markets and multiple properties rather than having to purchase entire homes, making investing in SFR similar to buying a share of stock. Accredited investors can invest in Roofstock One shares for as little as $1,000 with an introductory offer through December 31, 2021.

Roofstock One is a radically simple alternative to traditional real estate investing. Roofstock uses its SFR investment expertise to identify and acquire properties in markets that its data science and research teams have identified as potentially attractive investment opportunities. Roofstock One then issues shares that represent ownership interests in the selected SFR properties. These shares are then bundled based on geography or other characteristics of the properties to provide investors exposure to different investing strategies. Accredited investors can select groups of shares that align with their investing goals, add the investment to their shopping cart, and complete their purchase in a matter of clicks.

"The attractiveness of SFR has long been its ability to generate strong, consistent returns over the long-term in a way that is almost entirely uncorrelated to the stock market," said Gary Beasley, CEO and co-founder of Roofstock. "We believe Roofstock One makes SFR real estate investing the simplest it has ever been." 

Benefits and highlights of Roofstock One include:

  • A hands-off, fractional ownership approach: Investors get many of the economic benefits of direct ownership, such as potential cash flows from rent and asset appreciation, without the traditional associated responsibilities, like managing renovations or tenancy issues.  
  • Ability to customize the investment: Roofstock One allows investors to choose targeted portfolios based on their investment goals. 
  • Professional property and asset management: Roofstock One leverages Roofstock’s industry-leading platform to optimize the performance of the properties on behalf of investors with the goal of maximizing returns on an ongoing basis.
  • Simple tax filing: Roofstock One’s innovative structure makes tax time easier by providing investors with a Form 1099, avoiding Form K-1s and partnership tax issues.

Roofstock’s founders are pioneers of SFR. They were among the first to bring institutional capital, data science, digital technology, and asset management capabilities to an asset class that lacked a modern investing infrastructure. At its launch in 2015, Roofstock took the radical step to democratize access to SFR by making its investment expertise, data, and operational services, along with an exclusive inventory of rental homes available to everyday investors. The solutions Roofstock offers to investors have driven the company’s tremendous growth; surpassing $4 billion in transaction volume along with explosive expansion of its fully managed investment services, which has grown 50x since the beginning of 2021. The relaunch of Roofstock One marks a significant milestone that further levels the playing field for the individual accredited investor.

Roofstock One’s market footprint currently includes homes in affordable markets, such as Georgia, Indiana, and Alabama, that likely will continue to benefit as work-from-home trends become increasingly prevalent. This launch of Roofstock One is just the beginning. Roofstock One is continually innovating on behalf of consumers to create new investment opportunities in SFR. The company is currently exploring a blockchain solution that could reduce transaction costs, streamline reporting, and potentially offer enhanced liquidity options by tokenizing Roofstock One shares or other SFR-related products. 

To learn more about Roofstock One or start investing, visit roofstock.com/one.

About Roofstock

Roofstock is the leading digital real estate investing platform for the $4 trillion single-family rental home sector. The company provides extensive resources for investors to buy, manage, and sell investment homes online, including data analytics, property management oversight, and other tools. Roofstock’s transparent, innovative marketplace empowers investors to own cash-flowing rental properties, diversify their investment portfolios, and build long-term wealth through real estate. Founded in 2015, the company has facilitated more than $4 billion in investment transactions to date. Roofstock was named to CB Insights Fintech 250 list in 2021 and has earned a spot on the prestigious Forbes Fintech 50 for the past three years. 

Contact: pr@roofstock.com 

PR Newswire

“Home Funding” is the least considered among retirement and education, but prepared cost is highest, averagely 21.19 million JPY in Japan

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TOKYO, Sept. 7, 2021 — A result of survey was announced by one stop real estate platform service "RENOSY" provided by GA technologies Co.,Ltd. (Headquarters: Minato City, Tokyo; CEO: Ryo Higuchi; Securities Code: 3491; "the Company") regarding "Financial Assets Plans & Housing" among families with annual income of more than 10million JPY with children under schooling age living in major districts of Tokyo.

According to the research, "home funding" is the least considered among "retirement fund" and "educational fund", although these funds together are said to be the 3 major funds in life in Japan. "Lack of adequate knowledge regarding this field" is the answer that has being most frequently answered as the reason. On the other hand, however, home funding costs the most among the 3 major funds when it comes to preparation. People who are planning about spending on real estate usually see it as an investment for oneself and tend to pay more attention to the market price of the real estate property itself and the timing for sell.

Along with the research result, we are looking for providing a more sophisticated service that integrates online and offline elements together for a more elaborate customer service of RENOSY. We want to make experience regarding real estate less complicated by solving all kinds of issues and concerns customer may have (*2).

Research on Attitudes of Asset Building and Housing in JAPAN
Research on Attitudes of Asset Building and Housing in JAPAN

[ Result Summary ]
1."Home funding" is the least considered among the 3 major funds in a person‘s life
2."Lack of adequate knowledge" is the most frequented given answer as a reason
3."Home funding" average preparation fund cost is 21.19 million JPY
4.People who are planning to spending on housing, tend to pay more attention to its market value as an investment and the timing for sell

Outline of the research

Research period: July 19, 2021 – July 21, 2021
Research method: Online questionnaire
Research target: families with annual income of more than 10million JPY with children under schooling age living in major districts of Tokyo. / Both male and female / Age 25 – 45 / Total 550 people

Details

1. "Home funding" is the least considered among the 3 major funds in a person‘s life

"Retirement", "education", "home" funds are said to be the 3 major funds in life.  While more than half of the people being researched answered positively of making plans about "retirement" and "educational "funds. However, there are 27.1% answered with "No plan" when it comes to "home". Together with the people who answered with "Considered, however have not taking any initiative yet" which accounts for 40% of the total.


2. "Lack of adequate knowledge" is the most frequented given answer as a reason

The reason that has been given most frequently of why people tend to skip the planning for home funding, is because of "Lack of sufficient knowledge" which accounts for 27%, followed by "Having savings in the bank is enough for me" which is 22.3%. Other reasons such as "Already own a real estate property", "Already have a plan for housing loan", "No further plan for buying a new house" etc. are also given.

3. "Home funding" average preparation fund cost is 21.19 million JPY

When being asked about the specific amount of fund prepared for housing among people who answered positively, the number rounded up with an average of 21.19 million JPY which is also the highest among the 3 categories.


4. People who are planning to spending on housing, tend to pay more attention to its market value as an investment and the timing for sell

From the result of the research, people who are planning about buying a house of their own tend to view the property as an investment and showing higher interests in the price value of the property and the timing for sell compared to those who are not making any plans regarding purchasing a house.

(4-1) When being asked about "Whether if you prefer to be able to keep up with the assessment information about your owned property (*3)?" 62.5% of people who are making financial plans for housing answered, "Very much", "Do think about that" compared to 32.6% of people who do not have any plans regarding purchasing a house.

(4-2) When it comes to the question where "Are you interested in using AI to do a simulation of the assessment on the property you currently owned (*3)?" 61% of people who are making financial plans for housing answered, "Very much", "Do think about that" compared to 30.5% of people who do not have any plans regarding purchasing a house.

(4-3) While when being asked about "Are you interested in selling the property you owned(*3) with a price other than the one being calculated and suggested by AI simulation?" 40.1% of people who are making financial plans for housing answered, "Very much", "Do think about that" compared to 17.4% of people who do not have any plans regarding purchasing a house.

(*1) The so called 3 major funds in a person’s life is as followed: "Home funding", "Retirement fund" and "Educational fund"

(*2) Related press release: RENOSY: Checking up your property’s market price by AI assessment and more on RENOSY (https://www.ga-tech.co.jp/news/10067/)

(*3) Property purchased not by oneself also included

About RENOSY OWNER‘S MY PAGE
This is an exclusive service for RENOSY members (Memberships are FREE). By applying AI technology, we make all the information such as " estimated market price", "estimated price for rent" and the fluctuations visualizable. Users who are planning about selling or renting the property could access the information on "OWNER’S MY PAGE". On the other hand, for those of whom are interested in real estate investment can check up the latest updates about live streaming announcements about assets management and property investment as well as scheduling appointments with our agents. We offer our customers the most useful information that suits with one’s needs and condition.

About RENOSY
RENOSY is a comprehensive one-stop real estate platform provided by GA technologies under the concept of "making house hunting and assets management easier". With the business vision of "inspiring the world with the power of technology and innovation". The purpose of RENOSY is to make everything about real estate easier for consumers in the field of "rent", "buy", "sell", "lease", "renovate" or "invest", and we provide these services in one-stop. Currently, we have about 20,0000 registered members, and more than 15,0000 existing properties in the center of Tokyo available on our website. GA technologies is working on helping to accelerate the digital transformation of the industry, and to provide a better customer experience through both online and offline.
– Data of the number of RENOSY members: by June 2021 / Data of the number of properties available on the website: by October,2021

About GA technologies
Company: GA technologies Co., Ltd.
Representative: Ryo Higuchi
URL: https://www.ga-tech.co.jp/en/ 
Head office: 40F of Sumitomo Fudosan Roppongi Grand Tower, Roppongi 3-2-1, Minato District, Tokyo
Year of founding: March 2013
Capital fund: 72,859,98310 JPY (As of July 2021)
Services:

  • PropTech real estate services platform: RENOSY (Portal media, Real estate agent service, real estate dealing, renovation service, property management)
  • SaaS type of BtoB PropTech products development
  • Data research and analysis using AI
  • Overseas real estate platform service targets at the Greater China area: Shenjumiausuan, overseas PropTech business

Major group companies: ITANDI, Inc, Modern Standard Co, Ltd., Shenjumiausuan Co.,Ltd and other 8 companies

PR Newswire

Y Combinator-Backed Lofty AI Launches Tokenized, Liquid Marketplace for A.I.-Vetted Real Estate on Algorand

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LOS ANGELES, Aug. 20, 2021 — Lofty AI today announces the launch of its liquid real estate marketplace on the Algorand blockchain, including the introduction of a sixth tokenized property listing as it gains momentum in disrupting access to real estate ownership. Lofty AI’s model allows anyone to become a direct owner in real estate and earn rental income for as little as $50 per token and in as few as five minutes, made possible with its blockchain-based solution on Algorand. Unique to Lofty AI, properties listed within the marketplace are vetted by both their local investment team and proprietary artificial intelligence, designed to more accurately evaluate market indicators that drive appreciation, including social media data, retail trends, and more.

Lofty AI’s mission is to bring liquidity and accessibility to the notoriously illiquid real estate market. Algorand’s blockchain technology enables this via minimal transaction fees, advanced smart contracts that allow for the automation of many functions, and industry-leading transaction throughput speed. These factors allow investors to participate with significantly lower minimums and to liquidate their investments at any time of their choosing, thereby reducing risk.

Property tokens on Lofty AI can be purchased via credit card or ACH transfer, and soon, will be eligible for purchase using Algorand-based currencies. Rental income is distributed to owners in USD, with forthcoming options for rental income to be sent directly to a user’s Algorand wallet.

"We believe that real estate investing should not just be reserved for the ultra-wealthy. Our team ran into this issue when investing in real estate personally, so we set out to create a platform that makes it super easy to invest in vetted properties in minutes, for only $50," said Max Ball, COO of Lofty AI. "Building on top of Algorand was a no-brainer for us––honestly it was probably the easiest decision we’ve had to make so far."

"We are excited about Lofty AI’s success on Algorand, and congratulate them on today’s sixth tokenized property launch," said David Markley, Director of Business Solutions at Algorand. "We believe that blockchain technology is the key to democratizing finance, including real estate investment opportunities, and have designed our protocol to facilitate the ease of use, speed, scalability, and true decentralization needed to enable this future."

The sixth property to be listed on the Lofty AI marketplace goes live today, with 2509 tokens available for investment.

About Lofty AI
Lofty AI lets people invest in tokenized investment properties for only $50. All properties are vetted by their local investment team and proprietary artificial intelligence, and tokens can be sold anytime for no penalties or fees. Lofty AI has raised over $5M in total funding and is backed by leading investors including Y Combinator, Rebel Fund, Jason Calacanis, Hustle Fund, and more.

About Algorand Inc.
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for defi, financial institutions and governments to smoothly transition into FutureFi. The technology of choice for more than 700 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value. For more information, visit www.algorand.com.

Media contact:
Lofty AI
Max Ball
max@lofty.ai

Algorand, Inc.
algorand@dittopr.co

Related Links :

http://www.algorand.com

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Fifth Wall Acquisition Corp. I Reminds Stockholders to Vote “FOR” Business Combination with SmartRent at Special Meeting of Stockholders

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Upon Closing, the Combined Company Will Trade on the NYSE under "SMRT" Ticker Symbol

LOS ANGELES, Aug. 13, 2021 — Fifth Wall Acquisition Corp. I (the "Company" or "FWAA"), a special purpose acquisition company, today reminded stockholders to vote "FOR" the business combination with SmartRent.com, Inc. ("SmartRent") at the special meeting of stockholders scheduled for August 23, 2021 (the "Special Meeting"). The Company also noted the pending transfer of the listing of its Class A common stock, par value $0.0001 per share (the "Common Stock"), from the Nasdaq Capital Market ("Nasdaq") to the New York Stock Exchange (the "NYSE") in connection with the anticipated closing of the business combination.

Trading of the Common Stock is expected to begin on the NYSE on August 25, 2021 under the new ticker symbol "SMRT". The last day of trading on the Nasdaq is expected to be on August 24, 2021, following the consummation of the Company’s pending business combination transaction with SmartRent, which is currently expected to occur on August 24, 2021, subject to final stockholder approval at the Special Meeting and satisfaction of other customary closing conditions.

As previously announced, the Company will hold the Special Meeting via live webcast at https://www.cstproxy.com/fifthwall/2021 on August 23, 2021 at 9:00 a.m. Eastern Time for its stockholders of record at the close of business on July 27, 2021 to vote on the proposed business combination, among other things. The definitive proxy statement/prospectus with respect to the business combination, together with a proxy card for voting, has been mailed to the Company’s stockholders. Stockholders are encouraged to attend the Special Meeting and to vote as soon as possible by signing, dating and returning the proxy card enclosed with the definitive proxy statement/prospectus. If you have any questions, please contact Innisfree M&A Incorporated, the Company’s proxy solicitor, at (877) 456-3402.

No action is required by existing Company stockholders with respect to the ticker symbol or exchange listing change.

About Fifth Wall Acquisition Corp. I

Fifth Wall Acquisition Corp. I is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

About SmartRent

Founded in 2017, SmartRent is an enterprise smart home and smart building technology platform for property owners, managers and residents. The SmartRent solution is designed to provide property managers with seamless visibility and control over all their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents. For more information please visit smartrent.com.

Important Information for Investors and Stockholders

This document relates to the proposed merger involving Fifth Wall Acquisition Corp. I ("FWAA") and SmartRent.com, Inc. ("SmartRent"). FWAA filed an amended registration statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") on July 26, 2021, which included a preliminary proxy statement/prospectus in connection with FWAA’s solicitation for proxies for the vote by FWAA’s shareholders in connection with the proposed transactions and other matters as described in such Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to SmartRent’s shareholders in connection with the completion of the proposed transaction. The definitive proxy statement/prospectus has been mailed to the stockholders of FWAA, seeking any required stockholder approvals. Investors and security holders of FWAA and SmartRent are urged to carefully read the entire definitive proxy statement/prospectus and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by FWAA with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from FWAA upon written request to Fifth Wall Acquisition Corp. I, 6060 Center Drive, 10th Floor, Los Angeles, California 90045.

FWAA, SmartRent and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in favor of the approval of the merger and related matters. Information regarding their interest in the transaction is contained in the Registration Statement and definitive proxy statement/prospectus. Free copies of these documents may be obtained as described in the preceding paragraph.

This document does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction. This document also does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor will there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, FWAA’s and SmartRent’s expectations or predictions of future financial or business performance or conditions, SmartRent’s product roadmap, including the expected timing of new product releases, SmartRent’s plans to expand its product availability globally, the expected composition of the management team and board of directors following the transaction, the expected use of capital following the transaction, including SmartRent’s ability to accomplish the initiatives outlined above, the expected timing of the closing of the transaction and the expected cash balance of the combined company following the closing. Any forward-looking statements herein are based solely on the expectations or predictions of FWAA or SmartRent and do not express the expectations, predictions or opinions of Fifth Wall in any way. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends" or "continue" or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in the section of FWAA’s Form S-1 titled "Risk Factors," which was filed with the SEC on February 4, 2021. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are based on FWAA’s or SmartRent’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and neither FWAA nor SmartRent is under any obligation and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which FWAA has filed or will file from time to time with the SEC.

In addition to factors previously disclosed in FWAA’s reports filed with the SEC, including FWAA’s most recent reports on Form 8-K and all attachments thereto, which are available, free of charge, at the SEC’s website at www.sec.gov, and those identified elsewhere in this document, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: risks and uncertainties related to the inability of the parties to successfully or timely consummate the merger, including the risk that any required regulatory approvals or stockholder approvals of FWAA or SmartRent are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the merger is not obtained, failure to realize the anticipated benefits of the merger, risks related to SmartRent’s ability to execute on its business strategy, attract and retain users, develop new offerings, enhance existing offerings, compete effectively, and manage growth and costs, the duration and global impact of COVID-19, the possibility that FWAA or SmartRent may be adversely affected by other economic, business and/or competitive factors, the number of redemption requests made by FWAA’s public stockholders, the ability of SmartRent and the combined company to leverage Fifth Wall’s limited partner and other commercial relationships to grow SmartRent’s customer base (which is not the subject of any legally binding obligation on the part of Fifth Wall or any of its partners or representatives), the ability of SmartRent and the combined company to leverage its relationship with any other SmartRent investor (including investors in the proposed PIPE transaction) to grow SmartRent’s customer base, the ability of the combined company to meet Nasdaq’s listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the merger, the inability to complete the private placement of common stock of FWAA to certain institutional accredited investors, the risk that the announcement and consummation of the transaction disrupts SmartRent’s current plans and operations, costs related to the transaction, changes in applicable laws or regulations, the outcome of any legal proceedings that may be instituted against FWAA, SmartRent, or any of their respective directors or officers, following the announcement of the transaction, the ability of FWAA or the combined company to issue equity or equity-linked securities in connection with the proposed merger or in the future, the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments; and those factors discussed in documents of FWAA filed, or to be filed, with the SEC.

Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in FWAA’s most recent reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov, and will also be provided in FWAA’s proxy statement/prospectus, when available. Any financial projections in this document are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond FWAA’s and SmartRent’s control. While all projections are necessarily speculative, FWAA and SmartRent believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this document should not be regarded as an indication that FWAA and SmartRent, or their representatives, considered or consider the projections to be a reliable prediction of future events.

Annualized, pro forma, projected and estimated numbers (including projected revenue derived from committed units) are used for illustrative purposes only, are not forecasts, and may not reflect actual results. Presentation of historical 0% customer churn (which occurs when an existing customer removes SmartRent installed units) is illustrative only, and is not intended to be predictive of future churn, particularly as business continues to grow. When used herein, the term "committed units" includes both (i) units that are subject to binding purchase orders from customers and (ii) units that existing customers who are parties to a SmartRent master services agreement have informed SmartRent that they intend to order.

This document is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in FWAA and is not intended to form the basis of an investment decision in FWAA. All subsequent written and oral forward-looking statements concerning FWAA and SmartRent, the proposed transaction, or other matters and attributable to FWAA and SmartRent or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

Investor Contact:
investors@smartrent.com

Media Contact:
SmartRent@Inkhouse.com

PR Newswire

BEEPLUS Increases the Value of Existing Real Estate While Harnessing the Growth Potential of the Companies It Serves

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SHENZHEN, China, July 16, 2021 — With the continued evolution of the Internet and with more and more companies focused on innovative technologies, the requirements for an office are shifting from the need for basic functions to a communal workspace that is more humanized, creatively-designed and fully functional. To this end, the asset-light output model of commercial office space has quietly become popular. As one of the first "asset-light" brands in the industry, BEEPLUS, founded in 2015, has gone beyond the conventional expectation for office space in terms of design and operation with its own unique "new office ecology" concept: an "asset-light output model" that repurposes existing real estate, provides corporate services and integrates office and living.

"We are creating a new office scenario, and win-win cooperation model through ‘asset-light output’ – providing an innovative and high-quality office experience for urban white-collar workers while enhancing efficiency and soft power for the enterprise and increasing the value of the property for the owner," said Jia Fan, CEO of BEEPLUS. "We aim to become the Marriott of the flexible workspace industry."

In the past, when an office space needed to be leased, the company’s executives had to choose a location, then decide on the design and supervise the outfitting of the office on their own, all of which took a lot of time and effort and often ended with an unsatisfactory result. In order to address the problematic issue for new and growing companies, BEEPLUS has packaged the entire process to provide companies with quality office solutions.

In early 2019, BEEPLUS created a customized design for Plateno Group’s Shenzhen headquarters office and oversaw its implementation. The office features a well-lit and spacious reception area, a bright and colorful lounge space, innovatively-designed rooms where phone calls can be made in private, ergonomic 9am digital height-adjustable workstations, professional rowing exercise equipment, and sail-themed walls in line with Plateno Group’s philosophy.

In addition to creating the office space, BEEPLUS will also provide a full range of operational support services to Plateno Group over the next five years.

In 2019, the Reith & BEEPLUS business center, an American-style community jointly built by BEEPLUS and the Reith Group, opened in Shenzhen. The project not only eschewed traditional approaches to the design of the workspace, but also became a model for what the workspace of the future would look like.

Despite the highly desirable geographical location in the popular Bao’an District, the immediate neighborhood was lacking in support facilities. In 2019, the Reith Group brought in BEEPLUS to re-architect the property, and signed on for BEEPLUS’ one-stop services including design, construction, operation and investment support.

After renovation of the space and commencement of operations, the project quickly achieved 100% occupancy, with tenants coming from many emerging industries. The project became a typical example of "new office ecology" in enhancing the value of what was originally a depressed property. At the same time, it caused all the surrounding properties to appreciate in value with many medium- and long-term leases having been signed, creating a cluster of local business professionals. The end result has been the arrival and establishment of businesses to support the cluster, stimulating the economic vitality of the area where the property is located. 

BEEPLUS’ concept of packaging a business center brand with an adjacent accommodations facility and then scaling the concept by creating a chain of such facilities, coupled with the development of four core competencies to make it possible to execute on the concept: international design, renovation of depressed properties, support services including build-out and operation of high-end living spaces alongside the workspace, as well as operations and investment, have enabled the company to achieve an occupancy rate of over 95% in its projects in Shenzhen, Zhuhai and Guangzhou.

Related Links :

http://www.beeplus.com

PR Newswire

E-Home Household Service Holdings Limited Announces Pricing of Initial Public Offering

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FUZHOU, China, May 14, 2021 — E-Home Household Service Holdings Limited (the "Company"), a household service company based in Fuzhou, China, today announced the pricing of its initial public offering ("Offering") of 5,555,556 ordinary shares at a public offering price of US$4.5 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading today, May 14, 2021 under the ticker symbol "EJH".

The Company expects to receive aggregate gross proceeds of US$25 million from this Offering, before deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 666,667 ordinary shares at the public offering price. The Offering is expected to close on or about May 18, 2021, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for investment in product development, sales and marketing activities, and technology infrastructure; improvement of corporate facilities and other general and administrative matters; acquisition of, or investment in, technologies, solutions or businesses that complement our business; and general corporate purposes.

The Offering is being conducted on a firm commitment basis. Joseph Stone Capital, LLC is acting as the lead underwriter for the Offering. Bevilacqua PLLC is acting as counsel to the Company, and Davidoff Hutcher & Citron LLP is acting as counsel to Joseph Stone Capital, LLC in connection with the Offering.

A post-effective amendment to the registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission ("SEC") (File Number: 333-233468) and was declared effective by the SEC on May 4, 2021. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Joseph Stone Capital, LLC, by email at ccao@josephstonecapital.com, by calling +1 888-425-7593 or standard mail to Joseph Stone Capital, LLC, 42 Broadway, Suite 301, New York, NY 10004, USA. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About E-Home Household Service Holdings Limited

E-Home Household Service Holdings Limited is a household service company based in Fuzhou, China. The Company provides integrated household services through its website and WeChat platform "e家快服", primarily including home appliance services and housekeeping services. For more information, visit the Company’s website at http://www.ej111.com/ir.html.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s proposed Offering. Specifically, the Company’s statements regarding trading on the NASDAQ Capital Market and closing the Offering are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com