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Roomi isn't accepting new investments

Roomi’s deadline was March 1, 2018

Follow the company to stay updated on their progress, including future investment opportunities


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Campaign ended
Logo of Roomi

Roomi

Shared housing marketplace with 14x growth in 2016 and 1M+ users
Immigrant Founders P2P B2C Marketplace Property Sharing & Rentals Apps
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Featured image of Roomi
$321,554
Raised
1,080
Investors
Successfully funded and closed on March 1, 2018.
Invest in Roomi

Open for investment

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Closed on March 1, 2018. Information may not be up-to-date. Campaign closed on March 1, 2018. Information displayed may not be up-to-date.

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Roomi Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Roomi Crowd SAFE
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Hear from some of the 1,080 investors in Roomi


Show more

Deal highlights

  • An app that makes it safer and easier to search for shared housing
  • 1M app installations and over 230K apartments listed as of Sept 2017
  • Grew by 14x in 2016
  • Has more than 3x more listings for 1+ month sublets in NYC than Airbnb
  • Raised over $16M from several noted VCs and AngelList syndications
  • Led by an immigrant repeat founder named among 2017 Forbes’ “30 under 30”
  • There are 32M people living with roommates with about 90M moves per year
  • Acquired room.me in 2016 and The Room Ring in 2017


The Problem

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But the process of searching for a place and a person to live with is complicated and outdated.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.

The Solution


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

Impressive growth numbers for total users, apartments listed & successful move-ins



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

Positioned to take over the sharing housing 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.




Team

Ajay Yadav

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.

Watch Ajay's spotlight on Forbes



Join Us!

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

Deal terms


Valuation cap

$55,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

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.

Minimum investment

$50

The smallest investment amount that Roomi is accepting.
Learn more

Funding goal

$1.07M

Roomi must achieve its minimum goal of $50K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Roomi needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

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. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Roomi Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Roomi Crowd SAFE

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Roomi.
Invest
$50
Receive
  • Thank you note from our CEO + Shout out on our website + Free background check when you list your open room
Invest
$100
Receive
  • "Investor" badge on your Roomi profile + Thank you shout out on Twitter by our CEO + All previous perks
Invest
$250
Receive
  • Invite to our new rent payment feature in beta, let Roomi process your first rent payment for free (rack up those credit card points!) + All previous perks
Invest
$500
Receive
  • Roomi swag bag (t-shirt, canvas bag, stickers, other surprises) + Invites to test all future beta products + All previous perks
Invest
$2,500
Receive
  • Unlimited access to all future Roomi community events (aka 'The R Collective') + All previous perks
Invest
$5,000
Receive
  • Featured on Roomi homepage + Stop by the office and tour Roomi HQ + All previous perks
Invest
$25,000
Receive
  • Flight and accommodation to meet the team and tour Roomi HQ (US based investors only) + All previous perks.

Why others invested

See all reviews (0) See all (0)

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!

Profile picture of Jose Centeno
Jose Centeno
Active investor
over 7 years ago

I invested in your company because I have had people tell me great things about the company service. I believe Roomi is the future!

Profile picture of Andre Moultry
Andre Moultry
Investor
about 7 years ago

I want to be a part of a new marketplace. The growth of roommate based search service seems to be a good market.

Profile picture of Jill King Miller
Jill King Miller
Investor
about 7 years ago

About Roomi

Legal Name
Roomi Inc.
Founded
Apr 2013
Form
Delaware Corporation
Employees
30
Website
roomiapp.com
Social Media
Headquarters
Google Map location of of Roomi
33 Irving Place , New York, NY
Headquarters
33 Irving Place, New York, NY, United States 10003

Roomi Team
Everyone helping build Roomi, not limited to employees

Profile picture of Ajay Yadav
Ajay Yadav
Founder & CEO
Founder & CEO @Roomi • Forbes 30 Under 30 • Investor • Forbes Real Estate Council • New York Institute of Technology-Old Westbury
Profile picture of Alex Larsen
Alex Larsen
Chief Operating Officer
COO @Roomi • Panelist and Guest Lecturer • MBA @Pepperdine University • BS Engineering @Miami University
Profile picture of David Segura
David Segura
Chief Strategy Officer
CSO @Roomi • Many time panelist • Entrepreneur • Angel Investor • Founder of Giant Media (acquired by AdKnowledge)
Profile picture of Adam Berlinsky-Schine
Adam Berlinsky-Schine
Head of Engineering
Seasoned software engineering leader with 11 years of industry experience from big companies (Amazon, Yelp) to startups (Nommery, Coffee Meets Bagel)
Profile picture of Carli Evilsizer
Carli Evilsizer
Brand & Communications Manager
Carli has spent her career helping start-ups, from CPG to tech, build and tell their stories
Profile picture of Tuesday Grey
Tuesday Grey
Listings & Security Manager
Ensures the quality of every listing is up to Roomi standard before approval
Profile picture of Patou Saubusse
Patou Saubusse
Listings Manager
Manages the entire listing approval process
Profile picture of Chumi Gonzalez
Chumi Gonzalez
Marketing Manager
Responsible for the day-to-day execution of marketing campaigns across New York City and beyond
Profile picture of Sherry Wang
Sherry Wang
Product Designer
Oversees the entire product design for Roomi
Profile picture of Brian  Epp
Brian Epp
Board Member
Profile picture of Kevin Quinn
Kevin Quinn
Board Member
8 more team members
Ajay Yadav
Founder & CEO
Alex Larsen
Chief Operating Officer
David Segura
Chief Strategy Officer
Adam Berlinsky-Schine
Head of Engineering
Carli Evilsizer
Brand & Communications Manager
Brian Epp
Board Member
Kevin Quinn
Board Member
Tuesday Grey
Listings & Security Manager
Patou Saubusse
Listings Manager
Chumi Gonzalez
Marketing Manager
Sherry Wang
Product Designer

Press

Roommate-matching startup Roomi expands internationally
The Real Deal New York The Real Deal New York
·
May 24, 2018

The app is launching in London, followed by other European cities On the heels of acquiring yet another rival, online roo...

Roomi hits 1 million users and raises $11 million to grow...
VentureBeat VentureBeat
·
Nov 13, 2017

Roomi, a peer-to-peer marketplace for finding roommates, has raised $11 million in a series A round of funding led by Ata...

Roommate-matching startup Roomi raises $11M in Series A r...
The Real Deal New York The Real Deal New York
·
Nov 13, 2017

Atami Capital led the round Online roommate finder Roomi raised $11 million in a Series A round, as investors continue to...

Roomi raises $11 million to find you a roommate
TechCrunch TechCrunch
·
Nov 12, 2017

Looking for a roommate on Craigslist can be cumbersome. And it can be difficult to determine what the person will be like...

How expensive is it to live in New York City nowadays? Yo...
CNBC CNBC
·
Jul 8, 2017

Carrie Bradshaw might want to rethink whether she can afford that Cosmo. Manhattan real estate prices have been notorious...

Roomi Acquires The Room Ring to Consolidate the Shared Ho...
Businesswire Businesswire
·
Jun 12, 2017

Roomi, a peer-to-peer mobile-first platform transforming the rental and shared housing industry, announced today the acqu...

How Getting Robbed By His Roommate Prompted Ajay Yadav To...
Inc42 Media Inc42 Media
·
Oct 7, 2016

Advertisement Advertisement "When life gives you lemons, make lemonade." Well, Ajay Yadav went a step further - he not on...

Roomi Announces Partnership With Lemonade So Users Can Ea...
Prnewswire Prnewswire
·
Jan 15, 2016

Roomi is committed to making every step of the renting experience safer and is extending their offerings to ensure users'...

These startups are betting the house on co-living
The Real Deal New York The Real Deal New York
·
Oct 9, 2015

A look at Roomi, Common and other firms in the space When Ajay Yadav first began telling landlords and brokers about his ...

Why Every Startup Should Host A Crowdfunding Campaign
Forbes Forbes

Crowdfunding takes a lot of work. There's no way around it. But, the return on energy is worth the investment - both with...

Property Pros: These 30 Under 30s Will Create Your Perfec...
Forbes Forbes

AJAY YADAV Roomi | 30 Party animals and early risers alike can find the perfect pad thanks to Yadav's app, which has secu...

The Millennial's Guide to Moving to NYC
DNAinfo New York DNAinfo New York

MANHATTAN - Millennials, be forewarned before moving to the Big Apple: You'll need a roommate, you'll likely pay at least...

How To Raise Capital As A Solo Founder
Forbes Forbes

I've played a role in founding three startups, but I'd never tackled the trials of fundraising until Roomi. Within a year...

Show all
Logo of Roomi

Roomi

Roomi successfully raised $321,555 from 1080 investors on March 1, 2018
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Jose, Mark, Geison, Rory, Michael, and 1075 others invested. 433 Reviews
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