INSUBCONTINENT EXCLUSIVE:
Airbnb has well and truly disrupted the world of travel accommodation, changing the conversation not just around how people discover and
book places to stay, but what they expect when they get there, and what they expect to pay
Today, one of the startups riding that wave is announcing a significant round of funding to fuel its own contribution to the
marketplace.Domio, a startup that designs and then rents out apart-hotels with kitchens and other full-home experiences, has raised $100
million ($50 million in equity and $50 million in debt) to expand its business in the U.S
and globally to 25 markets by next year, up from 12 today
actually closed in August of this year, was led by GGV Capital, with participation from Eldridge Industries, 3L Capital, Tribeca Venture
Partners, SoftBank NY, Tenaya Capital and Upper90
Upper90 also led the debt round, which will be used to lease and set up new properties.Domio is not disclosing its valuation, but Jay
the company has tripled its revenues in the last year
a valuation north of $1 billion
Others like Guesty, which are building platforms for others to list and manage their apartments on platforms like Airbnb, recently raised
$35 million with a valuation likely in the range of $180 million to $200 million
Airbnb is estimated to be valued around $31 billion.Domio plays in an interesting corner of the market
For starters, it focuses its accommodations at many of the same demographics as Airbnb
estate investment banking
not a real estate company as much as it is a tech-powered business
it not just on what consumers are searching for, but also weather patterns, economic indicators and other factors
After identifying a city or other location, it works on securing properties.It typically sets up its accommodations in newer or completely
Instead, they are considering an option like Domio as an alternative to selling as condominiums or apartments, something that might come up
if they are sensing that there is a softening in the market
This gives the startup a much more favorable rate and terms on those deals
level, and a gym.Using technology to identify where to grow is not the only area where tech plays a role
That will include ordering room service, getting more towels, booking experiences and getting restaurant recommendations
the retail experience using the app
as hotels (and perhaps even more prominent, depending on who you are talking to), the wider travel and accommodation market is still ripe
WeWork, which itself does not own the property it curates and turns into office space for its tenants
The short-term nature of customer stays and the combination of experience/price required to maintain loyal customers are natural enforcers
They have the right combination of vision, speed and agility
The global travel and tourism spend is $2.8 trillion with 5 billion annual tourists
