Blueground’s Successful Business Model: Generating $560M in Revenue with $45M Boost in Latest Funding Round
Alex Chatzieleftheriou founded Blueground in 2013 after being frustrated with the dearth of short-term furnished apartments in Europe.
In 2022, the company gained a strong foothold in Latin America by buying Tabas, an operator of over 9,0000 furnished apartments in Brazil.
Blueground leases apartments in popular neighborhoods and then equips and furnishes them for renters.
The company didn’t reveal its new valuation, but Chatzieleftheriou said that the company’s value has increased since its previous round.
Sales jumped by 70% to $560 million in 2023 over 2022’s $300 million in gross revenue, Chatzieleftheriou said.
