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When the former Zillow exec whose first venture sold for $120M starts a new company, people notice. No wonder the VCs behind Uber and eBay also backed Pacaso. Their platform sells fractions of premier properties, rewriting a $1.3T market. And it works, earning over $110M in gross profit to date.

What to know about the streetcar derailment in Lisbon

The Associated Press
September 04, 2025

The derailment of a popular streetcar in Portugal's capital killed 17 people and injured 21 others, emergency services said, in what officials are calling one of Lisbon's worst tragedies in recent memory.

Here's what to know:

Investigation underway

Official details about the crash were still scant Thursday morning. Authorities called the derailment on Wednesday an accident, and the government said that an investigation was underway.

Witnesses told local media that the streetcar appeared out of control as it careened down a hill at around 6 p.m. during the evening rush hour. One witness said that the streetcar toppled onto a man on a sidewalk.

The sides and top of the yellow-and-white streetcar, known as Elevador da Gloria, were crumpled and it appeared to have crashed into a building where the road bends.

Carris, the company that operates the streetcar, said that scheduled maintenance had been carried out.

Officials declined to speculate on whether a faulty brake or a snapped cable may have caused the derailment.

Death toll rises

Seventeen people were killed, Margarida Castro Martins, head of Lisbon's Civil Protection Agency, told reporters on Thursday. The death toll, revised upward from Wednesday night, included two of the people who were receiving hospital care.

Another 21 people were injured in the crash, an official said. They included Portuguese nationals as well as two Germans, two Spaniards and one person each from France, Italy, Switzerland, Canada, Morocco, South Korea and Cape Verde.

President Marcelo Rebelo de Sousa offered his condolences to affected families, and Lisbon Mayor Carlos Moedas said that the city was in mourning.

"It's a tragedy of the like we've never seen," Moedas said.

National grieving

Portugal was observing a day of national mourning on Thursday.

"A tragic accident ... caused the irreparable loss of human life, which left in mourning their families and dismayed the whole country," the government said in a statement.

European Commission President Ursula von der Leyen also sent her condolences.

"It is with sadness that I learned of the derailment of the famous Elevador da Gloria," she wrote in Portuguese on X.

140 years of service

The streetcar, technically called a funicular, is harnessed by steel cables and can carry more than 40 people, seated and standing. The service, up and down a hill on a curved, traffic-free road, was inaugurated in 1885.

It's classified as a national monument, and it attracts many of the millions of tourists who visit Lisbon each year. People typically wait in long lines for the brief ride.

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