Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 876

$UBER went public on Friday. Notwithstanding the initial stumble , Uber will go down in history as one of the most lucrative venture capital investments of all time.

The stock is down from its IPO price of $45 per share, but at that price, the initial seed investment of $510,000 that First Round Capital made back in 2010 was worth about $2.5 billion on Friday.

Here is a list of some of the other notable investors from Uber's seed round and what their initial investments grew to over the course of 9 years (chart from the WSJ ):

Of course, for every Uber, there are many more failed companies. And for every investor who turns $5,000 into nearly $25 million, there are many more who decided to pass on the opportunity.

In the case of Uber, many early investors couldn't see how the product could go mainstream. It initially started upmarket with limousines, which was actually a clever way to hack the chicken-and-egg problem that plagues marketplaces.

Many also wondered how many metro areas outside of San Francisco had the kind of urban density and supply and demand drivers to support this kind of a service.

Today, some nine years later and many billionaires later, lots of people -- including myself -- are still wondering: Will Uber turn out to be a great (i.e. profitable) business? Hindsight is always 20/20.

There's a lot of money at work right now trying to reinvent the way that homes are bought and sold. Perhaps the most popular trend is "instant buying" or algorithmic home buying . I have been writing about this for years, mostly because of Opendoor . But now there are lots of companies competing in this space. With this model, home sellers get the benefit of an almost immediate sale, though usually it's at a slightly lower price.

Redfin, on the other hand, is returning to something that it first tried out back in 2006: a buy now button on its online listings. It failed back then. But maybe it was simply too early. The feature allows unrepresented buyers -- that is, buyers without an agent -- to make online offers. Naturally, it's far from a single click process. But when accepted, the seller ends up paying about half the amount of commission.

According to the New York Times , the company started testing the feature in late March in the Boston area. Of the 120 homes listed on Redfin with a "start an offer" button, 5 ended up being purchased via an online bid. That's more than I would have expected. But Redfin positions these offers as being the stronger option because they save sellers money. There's also an option to tour the home on your own.

Given this initial response, the company is now working to roll out this feature nationally, market by market. Is this the future of home buying?

Equinox Holdings operates, among other things, 99 fitness clubs in the US, the UK, and Canada. And this June, the first Equinox Hotel will open in a 92-storey tower in New York's Hudson Yards. It will occupy floors 24 to 38. Below it will be Equinox's corporate headquarters. And above it will be residential condominiums.

Supposedly, the brand emerged out of a trend that the company saw over a decade ago: Its fitness club members were choosing to stay in hotels based on their proximity to an Equinox. They simply weren't satisfied with the gym offerings at other luxury hotels.

The full back story, which can be found here in WSJ. Magazine , is a good read. I think their ambition of trying to "own sleep" is a clever one. They are pitching their rooms as dark, quiet, and cool. I am sure other hospitality brands have tried to do this, but Equinox is clearly taking this directive very seriously. They even sponsored a sleep study with UCLA.

This feels like a natural extension of their existing brand. Equinox is focused on regeneration. What better way to accomplish that than through a good night's sleep?

Image: 35 Hudson Yards via Related-Oxford