Crowdfunding startup RealtyShares to cease investing, faces mass layoffs

Real estate crowdfunding company RealtyShares is set to lay off the vast majority of its staff and faces an uncertain future following a failed attempt to secure more funding, according to multiple sources familiar with the matter.

The startup has raised more than $63 million from venture capital players like Union Square Ventures, Cross Creek, Hone Capital and Blue Mountain, as well as Starwood Capital’s Barry Sternlicht and Chinese firm Danhuan Capital.