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Zumper, Inc. announced it raised $28.4 Million in an initial filing from an offering of $50 Million

Zumper, Inc. announced it raised $28.4 Million in an initial filing from an offering of $50 Million

01/27/22, 11:09 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/PA.svgsan francisco
Money raised
$28.4 million
Industry
real estate
hospitality
travel

Company Info

Company
Zumper, Inc.
Location
555 montgomery st., #1300
san francisco, panamá province, panama
Additional Info
The San Francisco company historically has connected renters to landlords for long-term leases, with short-term rentals only being a very small portion of its business. To that end, the company has raised $30 million in a Series D1 round of funding led by Kleiner Perkins to help it in its efforts to enhance its product to better serve people looking for short-term rental options. Despite the latest raise being an extension of that round, Georgiades told TechCrunch that the company saw a “significant step up” in valuation. Ilya Fushman, a partner at Kleiner Perkins, notes that the venture firm has invested in each of Zumper’s funding rounds since its 2012 inception, The company makes money by charging multi-family and single-family landlords a subscription to its platform to get their inventory in front of Zumper’s users. In the short-term space, it’s a bit more transactional, with the company taking a fee at the point when the rental is booked at an average of 10% of the booking value generated. Last year, Zumper had about 1 million listings and over 70 million users. The executive declined to disclose the figure at which Zumper is currently valued, but sources familiar with the company’s internal operations told TechCrunch that it is now “above $500 million.”He did say that the money has mostly gone toward funding the product development toward all the above trends. Acknowledging that there is “some overlap,” Georgiades said Zumper is “focused on helping people find places to live versus Airbnb being focused on helping people find places to stay, often when they travel or on vacation.”

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