proptech

Enterprise, Startups

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.

Max Chen
March 28, 2024
1 Comment

Enterprise, Startups

Proptech Startup Collapses Due to Unfavorable Interest Rate Climate

Here, a fractional short-term vacation rental marketplace, has shut down after just over two years of operation. In a statement on its website, the company said its goal was to sell all of the properties that it holds within the next six months. According to the publication ShortTermRentalz, the marketplace gave investors a way to acquire partial ownership of vacation rentals. Just last week, TechCrunch broke the news that Frontdesk, a short-term rental provider, had laid off its entire staff and was on the verge of shutting down. Last November, we reported on Zeus Living reportedly shutting down after raising $150 million in debt and equity.