The app is launching in London, followed by other European cities On the heels of acquiring yet another rival, online roo...
Millennials are moving more than ever — on average a Roomi user is only staying in one place for 4.3 months. With rising rent prices, looming student debts and a preference for flexible, nomadic lifestyles, shared housing is becoming the new normal.
But the process of searching for a place and a person to live with is complicated and outdated. (Did we mention it’s also unsafe??) Sites like Craigslist do not verify the apartment listings or vet the users and there’s often a risk of a scam or expensive, hidden broker fees.
SAFE:
Multiple verification features like background check, ID verifications and Facebook, LinkedIn and Instagram integration
Secure in-app messaging to instantly and safely connect users
Provides all of the details needed to make an informed decision on where to live and who to live with
EASY:
Ability to instantly book online and set up automatic, online rent payments
Browse individualized search results based on income, location and budget
Creates individualized results using income, location, and budget differences
Proprietary algorithms help users save time and money while searching for an apartment and roommate
Traction
Business Model
Early revenue streams proven highly scalable
Roomi's revenue model is directly related to move-ins. If booked online, Roomi collects a fee between 1-10%. Value add services like background checks, ID verifications, and roommate agreements are included if booked online and otherwise available to purchase separately. Roomi also has partnerships with landlords/ property owners in which they receive a fee every time Roomi helps current tenants find a roommate that leads to a lease renewal.
Projections
Based on current growth trajectory and market estimations, Roomi aims to reach over 15,000 move-ins by the end of 2017 and 45,000 move-ins by the end of 2018. At that rate, Roomi’s projected revenues for 2017 and 2018 should be around $750,000 and $5 million. *Please note these projected figures are entirely speculative and might be inaccurate.
USE OF PROCEEDS:
Capital raised privately and via Republic will generally go towards operating expenses, staffing, marketing, customer acquisition and other undertakings that the team believes may be helpful for revenue and growth.
Market
Roomi is already even with Craigslist for supply of rooms in NYC and the market itself is growing rapidly. There are about 90 million moves a year and the percent of adults living with roommates is steadily increasing. This market has largely been ignored by the big players, like Airbnb and Craigslist, leaving Roomi well positioned to dominate this space.
Ajay built his first company when he was 17 years old and scaled it to 200 clients and 35 employees while attending college full-time in NYC. He came up with the idea for Roomi shortly after moving to the US. He wrote the code for Roomi himself until he could afford to hire employees.
A Forbes 30 under 30, Ajay is proud of his humble immigrant background and believes entrepreneurship can and should be more inclusive. Roomi is hosting this crowdfunding campaign because of Ajay’s passion to empower anyone to invest in Roomi’s future and allow YOU to be part of our journey towards market leadership.
Wish you had invested in the early rounds of Airbnb or Tinder? Join Roomi and our venture investors to redefine shared housing forever. Thank you for your support!
- Ajay
$55,000,000
The maximum valuation at which your investment converts
into equity shares or cash.
Learn more
20%
If a trigger event for Roomi occurs, the discount provision
gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.
$1.07M
Roomi must achieve its minimum goal of $50K before the deadline. The maximum amount the offering can raise is $1.07M.
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Crowd SAFE
A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event.
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I have used the app. It works, it is solid. it is well designed. It looks to me like there are a decent number of listings for several cities. I am happy to invest in competent teams!
I invested in your company because I have had people tell me great things about the company service. I believe Roomi is the future!
I want to be a part of a new marketplace. The growth of roommate based search service seems to be a good market.
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