Inman is Lead Investor in Curbed… October 30, 2007
Congrats to Lockhart Steele for getting an infusion of cash ($1.5M to be exact) to expand Curbed to new cities.
In reading the NYT’s coverage, nothing really surprised me much until the last two paragraphs where Brad explains why he is one of the investors:
If the downturn lasts long enough, “everyone suffers,” said Brad Inman, founder and publisher of the real estate news service Inman News. During bad times, “there’s always an uptick first” in real estate advertising, he said. “Nobody’s free of the dark shadow of a down market.”
Still, Mr. Inman was one of the lead investors of Curbed.com, in part because Curbed “is not a direct real estate play,” he said. “I didn’t even think of it in context of the market.”
I can’t figure out if I should be more surprised that Brad invested in Curbed (I’m not) or that he doesn’t see it as a real estate play… Either way, online real estate can be a small world, so it is especially nice to see Lockhart do so well.
By the way, last week word got around to me (and not from Brad) that a “real estate blog platform” was going to announce a large investment very soon. Needless to say, Curbed was not the blog platform that came to mind. 
- Posted in : Technology
- Author : Dustin
Comments»
Thanks D!
Hey Lock,
Any hints on the post-money valuation?
That would suggest that Brad doesn’t think of Inman News as a real estate play. He likely thinks of it as a media play. He’s a writer not a Realtor.