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| Privately held company | |
| Founded | 2010; 11 years ago, Launch: March 2011; 9 years ago |
|---|---|
| Headquarters | Singapore[1] |
| Owner | eVentures, Redpoint, T-Ventures, Founders |
| Founder(s) | Stephan Uhrenbacher Roman Bach |
| Key people | Stephan Uhrenbacher, Chairman |
| Industry | Lodging |
| URL | www.9flats.com |
9flats is an online marketplace enabling people to lease or rent short-term lodging. The company does not own any lodging; it is merely a broker and receives commissions from both guests and hosts in conjunction with every booking.[2]
The site competes with Airbnb.[3]
It has over 50,000 members and 30,000 hosts in 104 countries.[4]
History[edit]
9flats was launched by German internet entrepreneur Stephan Uhrenbacher – founder of Qype, and former head of northern European operations for lastminute.com.[5]
The founders secured funding from venture capital fund E.ventures (CityDeal/Groupon) and launched 9flats.com in February 2011 with an inventory of 5,000 places.[6]
In May 2011, 9flats secured another round of investment from venture capital funds Redpoint Ventures (HomeAway), ProFounder (ex-lastminute.com) and Greycroft Partners, bringing the total funding to US$10 million.[7][8][9]
In late 2011, 9flats became the first well-known European or North American company in the social travel space to open an Asian office in Singapore, led by VP of Asia Ng Wei Leen, establishing a presence ahead of global competitors like Airbnb.[10][11]
In January 2012, 9flats completed a round of funding led by T-Venture, the venture capital arm of Deutsche Telekom AG. This round included Redpoint Ventures and E-Venture Capital Partners (Hamburg).[12]
In August 2012, 9flats acquired Toronto-based competitor iStopOver, extending its service to North America and growing its property base to 100.000 apartments.[13][14][15]
In August 2012, Wired ranked the company 6th on its list of hottest startups in Berlin.[16]
In March 2013, 9flats introduced bitcoin as payment method.[17][18]
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In February 2014, Roman Bach was named CEO; he vacated that post in April 2016. Uhrenbacher moved to the advisory board.[5]
In 2014, 9flats announced that it is the first profitable player in the social travel industry.[5]
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In November 2014, 9flats made prepayment optional and allowed user to pay with cash.[19]
In October 2016, 9flats acquired Wimdu.[20][21]
In December 2016, 9flats sold Wimdu to the Novasol brand of Wyndham Destinations.[22]
References[edit]
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- ^'9FLATS: Legal info'. 9flats.
- ^Couts, Andrew (23 May 2011). 'Travel hotel-free by finding unique lodging online'. Digital Trends.
- ^Palmer, Maija (28 October 2011). 'Berlin emerges as technology challenger'. Financial Times.
- ^'9flats.com'. 9flats LinkedIn page. LinkedIn.
- ^ abcO'Hear, Steve (February 20, 2014). '9flats Founder Steps Down From CEO As Hamburg-Based Airbnb Competitor Breaks Even'. TechCrunch.
- ^Seiderer, Sophia (16 March 2012). 'Schlafplatzvermittlung im Internet: Von Sofa bis Penthouse'. Die Welt.
- ^Bradshaw, Tim (31 May 2011). 'Airbnb moves 'aggressively' into Europe'. Financial Times.
- ^May, Kevin (May 17, 2011). '9Flats apartment rental platform brings total funding to $10M'. Phocuswire.
- ^O'Hear, Steve (May 17, 2011). '9flats, the European Airbnb, secures 'major investment' from Silicon Valleys' Redpoint'. TechCrunch.
- ^'9flats banks on security and customer service to make it big in Asia'. Northstar Travel Group. March 27, 2012.
- ^Wen, Chin Hui (November 16, 2012). 'Airbnb sets up Singapore office'. SG Magazine.
- ^Bernau, Varinia (12 January 2012). 'Was die Telekom mit Groupon und 9flats vorhat'. Süddeutsche Zeitung.
- ^O'Hear, Steve (August 6, 2012). '9flats Acquires iStopOver To Put The Heat On Airbnb, Doubles Its Rentals Capacity'. TechCrunch.
- ^Meyer, David (August 6, 2012). 'Airbnb rivals consolidate as 9flats picks up iStopOver'. Gigaom.
- ^May, Kevin (August 7, 2012). '9Flats buys iStopOver, targets home turf of Airbnb'. Phocuswire.
- ^PEMBERTON, ANDY (15 August 2012). 'Europe's 100 hottest startups 2012: Berlin'. Wired.
- ^Vigna, Paul (20 November 2013). 'Bitcoin Couple Travels the World Using Virtual Cash'. The Wall Street Journal.
- ^Prabu, Karthick (April 16, 2013). '9Flats pushes digital currency Bitcoin as form of payment'. Phocuswire.
- ^O'Neil, Sean (November 26, 2014). '9Flats makes prepayment optional, allows cash for home rentals'. Phocuswire.
- ^Sheivachman, Andrew (October 10, 2016). 'Airbnb's Most Well-Funded European Rival Wimdu Is Acquired by 9flats'. Skift.
- ^O'Neil, Sean (October 9, 2016). 'Wimdu and 9flats combine into one short-term rental company'. Phocuswire.
- ^Whyte, Patrick (December 5, 2016). 'Wyndham Steps Up Investment in Sharing Economy With Two New European Deals'. Skift.