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Edison Housing Authority joins the New Jersey Purchasing Group by…

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Edison Housing Authority joins the New Jersey Purchasing Group by BidNet Direct

Registered vendors can access bids, related documents, addendum and award information.

Edison Housing Authority announced it has joined BidNet Direct’s New Jersey Purchasing Group and will be publishing and distributing upcoming bid opportunities on the system. BidNet’s New Jersey Purchasing Group connects participating agencies from across New Jersey to a large vendor pool and streamlines the bid and vendor management process. BidNet’s New Jersey Purchasing Group provides notifications to registered vendors of new relevant solicitations, as well as any addenda and award information from participating agencies across New Jersey, and can be accessed at http://www.bidnetdirect.com/new-jersey.

Edison Housing Authority joined the purchasing group in April, and will be utilizing the system to streamline their purchasing process including bid management, bid distribution and vendor relations. The New Jersey Purchasing Group is a single, online location for managing sourcing information and activities and provides local New Jersey government agencies the tools needed to minimize costs and save time throughout the purchasing process.

The New Jersey Purchasing Group expands an agency’s vendor pool and enhances vendor competition without increasing distribution costs. In addition to the existing vendors on the New Jersey Purchasing Group, all vendors looking to do business with Edison Housing Authority can register online: http://www.bidnetdirect.com/new-jersey. The Housing Authority invites all interested bidders to register today.

Registered vendors can access all open bids, related documents and files, additional addenda and award information. In addition, the New Jersey Purchasing Group offers a value-added service to notify vendors of new bids targeted to their industry, all addenda and advance notification of expiring term contracts. Registered vendors have access to not only Edison Housing Authority bid opportunities, but all participating agency bids.

“Our vendors can now save time and paper. They not only have direct access to our open bids, but those from other agencies throughout the state and can submit bids electronically. We invite all vendors to register on the New Jersey Purchasing Group to start receiving business opportunities,” stated Deborah Hurley, Executive Director of Edison Housing Authority.

Vendors may register on the New Jersey Purchasing Group at: http://www.bidnetdirect.com/new-jersey. BidNet’s vendor support team is available to answer any questions regarding the registration process or the bid system at 800-835-4603 option 2.

Other local New Jersey government agencies looking to switch from a manual bid process, please contact the New Jersey Purchasing Group for a demonstration of the no-cost sourcing solution.

About Edison Housing Authority:

Edison Housing Authority provides qualified lower income families with the best opportunities for safe and decent housing and communities and to provide the resources to become financially independent.

Edison Housing Authority seeks to establish a community where residents can thrive in secure, affordable housing and can strive to reach economic self-sufficiency through support and training, thus improving their lives.

By partnering with neighborhood organizations, local and state governments, private sector developers and property owners, and supportive service providers, the EHA contributes to the prosperity of Edison. Creating and sustaining urban communities offer all citizens growing opportunities for creating better lives on common ground and with dignity.

EHA offers residents offers a variety of programs, workshops, and seminars with the goal of financial self-sufficiency and/or homeownership.

EHA hosts a full calendar of activities that bring residents together. EHA believes that socializing with neighbors is the best way to cement a community.

About BidNet Direct:

BidNet Direct, powered by mdf commerce, is a sourcing solution of regional purchasing groups available at no cost to local government agencies throughout the country. BidNet Direct runs regional purchasing groups, including the New Jersey Purchasing Group, across all 50 states that are used by over 1,600 local governments. To learn more and have your government agency gain better transparency and efficiency in purchasing, please visit https://www.bidnetdirect.com/buyers

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Source: https://www.prweb.com/releases/edison_housing_authority_joins_the_new_jersey_purchasing_group_by_bidnet_direct/prweb17901022.htm

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As tech offices begin to reopen, the workplace could look very different

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The pandemic forced many employees to begin working from home, and, in doing so, may have changed the way we think about work. While some businesses have slowly returned to the office, depending on where you live and what you do, many information workers remain at home.

That could change in the coming months as more people get vaccinated and the infection rate begins to drop in the U.S.

As that happens, it is likely that more offices will reopen. We’ve already heard from major employers like Salesforce, which indicated it will be allowing a percentage of its workforce back to the office this month, starting with the company’s San Francisco headquarters. The CRM giant plans to move slow and follow the government’s lead, allowing 20% capacity at first and hoping to build to 70% over time.

Most companies aren’t the size of Salesforce, which boasts a worldwide workforce of more than 50,000 employees. These smaller companies often don’t control entire skyscrapers, as Salesforce does in San Francisco. That creates complicating factors, including managing people who aren’t willing to be vaccinated, dealing with social distancing and masking, and sharing buildings or floors with other companies.

Even more, many companies have discovered that their employees work just fine at home. And some workers don’t want to waste time stuck on congested highways or public transportation now that they’ve learned to work remotely. But other employees suffered in small spaces or with constant interruptions from family. Those folks may long to go back to the office.

On balance, it seems clear that whatever happens, for many companies, we probably aren’t going back whole-cloth to the prior model of commuting into the office five days a week.

Last August, we spoke to a number of tech company executives about what returning to the office could look like. We recently went back to most of those same executives, as well as a Rhode Island state official and a medical expert we spoke to then to revisit the idea and talk about what’s changed and what work could look like as move slowly toward the post-pandemic era.

The office will never be the same

While their approaches vary, all of the executives I spoke to said that they foresee adopting a hybrid model when they can return in earnest, although there were definitely different interpretations of what that means, and what the office structure will look like.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/05/11/as-tech-offices-begin-to-reopen-the-workplace-could-look-very-different/

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Digging into digital mortgage lender Better.com’s huge SPAC

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Better.com, a venture-backed digital mortgage lender, announced this morning that it will combine with a SPAC, taking itself public in the second half of 2021. The unicorn’s news comes as the American IPO market is showing signs of fresh life after a modest April.

The Better.com deal comes just over a month after it sold $500 million of its existing shares to SoftBank at a valuation of $6 billion. At the time, TechCrunch described the deal as “further proof” that unsexy industries were able to secure attractive valuations despite their relative lack of pizzazz.

The SoftBank secondary round was hardly Better’s only recent mega-deal; the company raised a $200 million round at a $4 billion valuation in November 2020.


The Exchange explores startups, markets and money. 

Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday.


But the company’s SPAC combination will affix an even higher price than its April round managed, providing the Kleiner Perkins-backed Better with what it describes as a “post-money equity value of approximately $7.7 billion.”

SoftBank is doubling down on Better, putting together a $1.5 billion private investment in the deal’s public equity, or PIPE, in effect repricing its own preceding investment. For the Japanese telecom and investing powerhouse, making successive bets in companies at ever-higher prices is essentially gospel. So, don’t read too much into the commitment.

As with all SPAC combinations, we have a pile of new data from the company that is going public as part of the transaction. So, this morning, we’re getting our hands dirty.

Our goals are simple: We want to understand whether Better is a weak business, an acceptably strong business, or a great business. To get there, we’ll have to start by digging into how the company functions. From there, we’ll discuss its valuation stacked against its trailing metrics. We’ll also take a look at its growth expectations and bring in the recent Compass IPO, a company that focuses on a different part of the mortgage market, to see if we can get a better handle on Better’s new valuation.

Ready? The deck is here. Let’s have some fun.

What’s Better.com?

If you have heard of Better but really had no idea what it does before this morning, welcome to the club. Mortgage tech is like pre-kindergarten applications — it applies to a very specific set of folks at a very particular moment. And they care a lot about it. But the rest of us aren’t really aware of its existence.

For the rest of us: Better is an online mortgage lender that aims to offer lower-than-standard fees to consumers looking for credit to help them buy a house. As the company explains on its website, it generates income by selling loans that it helps generate. Per its investor deck, Better also derives top line from selling insurance products.

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Source: https://techcrunch.com/2021/05/11/digging-into-digital-mortgage-lender-better-coms-huge-spac/

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Real Estate

Digging into digital mortgage lender Better.com’s huge SPAC

Avatar

Published

on

Better.com, a venture-backed digital mortgage lender, announced this morning that it will combine with a SPAC, taking itself public in the second half of 2021. The unicorn’s news comes as the American IPO market is showing signs of fresh life after a modest April.

The Better.com deal comes just over a month after it sold $500 million of its existing shares to SoftBank at a valuation of $6 billion. At the time, TechCrunch described the deal as “further proof” that unsexy industries were able to secure attractive valuations despite their relative lack of pizzazz.

The SoftBank secondary round was hardly Better’s only recent mega-deal; the company raised a $200 million round at a $4 billion valuation in November 2020.


The Exchange explores startups, markets and money. 

Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday.


But the company’s SPAC combination will affix an even higher price than its April round managed, providing the Kleiner Perkins-backed Better with what it describes as a “post-money equity value of approximately $7.7 billion.”

SoftBank is doubling down on Better, putting together a $1.5 billion private investment in the deal’s public equity, or PIPE, in effect repricing its own preceding investment. For the Japanese telecom and investing powerhouse, making successive bets in companies at ever-higher prices is essentially gospel. So, don’t read too much into the commitment.

As with all SPAC combinations, we have a pile of new data from the company that is going public as part of the transaction. So, this morning, we’re getting our hands dirty.

Our goals are simple: We want to understand whether Better is a weak business, an acceptably strong business, or a great business. To get there, we’ll have to start by digging into how the company functions. From there, we’ll discuss its valuation stacked against its trailing metrics. We’ll also take a look at its growth expectations and bring in the recent Compass IPO, a company that focuses on a different part of the mortgage market, to see if we can get a better handle on Better’s new valuation.

Ready? The deck is here. Let’s have some fun.

What’s Better.com?

If you have heard of Better but really had no idea what it does before this morning, welcome to the club. Mortgage tech is like pre-kindergarten applications — it applies to a very specific set of folks at a very particular moment. And they care a lot about it. But the rest of us aren’t really aware of its existence.

For the rest of us: Better is an online mortgage lender that aims to offer lower-than-standard fees to consumers looking for credit to help them buy a house. As the company explains on its website, it generates income by selling loans that it helps generate. Per its investor deck, Better also derives top line from selling insurance products.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/05/11/digging-into-digital-mortgage-lender-better-coms-huge-spac/

Continue Reading

Real Estate

Digging into digital mortgage lender Better.com’s huge SPAC

Avatar

Published

on

Better.com, a venture-backed digital mortgage lender, announced this morning that it will combine with a SPAC, taking itself public in the second half of 2021. The unicorn’s news comes as the American IPO market is showing signs of fresh life after a modest April.

The Better.com deal comes just over a month after it sold $500 million of its existing shares to SoftBank at a valuation of $6 billion. At the time, TechCrunch described the deal as “further proof” that unsexy industries were able to secure attractive valuations despite their relative lack of pizzazz.

The SoftBank secondary round was hardly Better’s only recent mega-deal; the company raised a $200 million round at a $4 billion valuation in November 2020.


The Exchange explores startups, markets and money. 

Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday.


But the company’s SPAC combination will affix an even higher price than its April round managed, providing the Kleiner Perkins-backed Better with what it describes as a “post-money equity value of approximately $7.7 billion.”

SoftBank is doubling down on Better, putting together a $1.5 billion private investment in the deal’s public equity, or PIPE, in effect repricing its own preceding investment. For the Japanese telecom and investing powerhouse, making successive bets in companies at ever-higher prices is essentially gospel. So, don’t read too much into the commitment.

As with all SPAC combinations, we have a pile of new data from the company that is going public as part of the transaction. So, this morning, we’re getting our hands dirty.

Our goals are simple: We want to understand whether Better is a weak business, an acceptably strong business, or a great business. To get there, we’ll have to start by digging into how the company functions. From there, we’ll discuss its valuation stacked against its trailing metrics. We’ll also take a look at its growth expectations and bring in the recent Compass IPO, a company that focuses on a different part of the mortgage market, to see if we can get a better handle on Better’s new valuation.

Ready? The deck is here. Let’s have some fun.

What’s Better.com?

If you have heard of Better but really had no idea what it does before this morning, welcome to the club. Mortgage tech is like pre-kindergarten applications — it applies to a very specific set of folks at a very particular moment. And they care a lot about it. But the rest of us aren’t really aware of its existence.

For the rest of us: Better is an online mortgage lender that aims to offer lower-than-standard fees to consumers looking for credit to help them buy a house. As the company explains on its website, it generates income by selling loans that it helps generate. Per its investor deck, Better also derives top line from selling insurance products.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/05/11/digging-into-digital-mortgage-lender-better-coms-huge-spac/

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