Myplace Raises $5.8M To Scale Its Private Home-Sharing Social Network
03/03/22, 2:00 PM
Money raised
$5.8 million
Industry
travel and tourism
community and lifestyle
New York-based MyPlace, a social network designed to help friends share their private homes, has raised $5.8 million in seed funding led by Freestyle Ventures. The platform was originally launched in 2019 by entrepreneurs Zach Bell and Rameet Chawla as a way for them to share their private homes with their friends. Since then, the platform has grown into a social network used by thousands of people in 86 countries.
Company Info
Additional Info
Since then, the platform has grown into a social network used by thousands of people in 86 countries. The platform has a running beta community of over 3,000 community members and a waitlist of over 7,500 people. Throughout 2021, the company saw organic user growth of 40% month-over-month. The platform also has private groups that users can invite each other to. Image Credits: MyPlaceChawla said the platform currently has two different demographics. Bell notes that MyPlace is for sharing private spaces with friends or friends of friends, whereas short-term rental services are dedicated to renting out spaces for profit.