Ignite Startups: Navigating Tech and Real Estate - A Conversation with Tore Steen | Ep57

Ignite: Conversations on Startups, Venture Capital, Tech, Future, and Society

In this episode of the Ignite podcast, Tore Steen recounts his extensive journey through the evolution of the internet and business, discussing pivotal moments that shaped his career trajectory and led to the creation of CrowdStreet. Initially, Steen ventured into the tech scene in 1998 by joining AAA to strategize on internet implications for traditional businesses. His early career pivoted to more innovative roles in internet companies like EarthLink, where he contributed significantly during the dot-com bubble by developing sustainable business models for online advertising and partnerships. Steen's narrative continues with his transition to WebTrends, where he focused on web analytics and spearheaded corporate development. Despite challenges in scaling the business under private equity, this period honed his skills in navigating the complexities of corporate and strategic growth in tech-driven environments. This experience played a crucial role in preparing him for future ventures. The foundation of CrowdStreet marked a significant chapter in Steen's story, where he leveraged the JOBS Act to democratize real estate investing through an online platform. This innovative venture allowed individual investors access to commercial real estate investments, disrupting traditional funding mechanisms. Steen's insights into the regulatory landscape and strategic partnerships helped propel CrowdStreet from an idea on a napkin to a leading player in real estate tech. Throughout the podcast, Steen shares lessons on resilience, innovation, and the importance of timing in business. His journey exemplifies how embracing technological changes and understanding market needs can create new opportunities. The episode encapsulates a rich history of tech evolution and entrepreneurial spirit, providing listeners with valuable perspectives on business development, innovation, and the future of internet-driven markets. Chapters 00:00 Introduction and Background 15:08 Inception of CrowdStreet 24:52 Acquiring Investors through Affiliate Partnerships 26:30 Building a Marketplace 28:00 Exploring the Early Stages of CrowdStreet 32:30 Pivoting to Focus on the Investor 34:22 Transitioning from CEO to a Board Role 42:50 Involvement with NADA: Unlocking Home Equity 53:32 Lessons from Tore Steen's Father