Company:Peerspace
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| Type | Private |
|---|---|
| Founded | 2014 in San Francisco, California |
| Founders |
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| Headquarters | San Francisco |
Area served | Global |
Key people |
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| Products | Venue rental platform |
| Website | www |
Peerspace is a company operating an online marketplace for hourly venue rentals for meetings, productions, and events. The company was founded in San Francisco by Rony Chammas and Matt Bendett, with backers including GV and Foundation Capital. The company lists 40,000 spaces across North America, Europe, and Australia.[1]
History
Peerspace was founded in 2014 in San Francisco, California by Rony Chammas and Matt Bendett with the intention of becoming a B2B version of Airbnb offering rentals of productive places.[2] The idea originated while Chammas was a student at NYU Stern School of Business and needed to find meeting places for various student organizations he was a part of.[2] Peerspace venues are designed for events unlike Airbnb which bans disruptive events.[3] Structure Capital led a $1.5 million seed funding round.[4] Chammas and Bendett, his co-founder, previously worked together at Electronic Arts (EA).[5]
Following its 2014 launch in San Francisco, Peerspace expanded to Los Angeles and then to New York City in November 2015.[5] The expansion to New York City coincided with a $5 million series A round of capital led by Foundation Capital.[6] In January 2016, the company launched in Seattle.[7] Two years later, in 2018, GV led a $16 million series B round.[8]
The company began its international expansion in 2021, launching in Canada and the United Kingdom.[9] By December 2022, it had more than 2000 hosts active in London.[10] It launched in France and Australia in 2022, and rebranded a year later.[11][12][13] By 2024, the company was profitable with $100 million in revenue from $500 million in turnover.[14]
Operations
Peerspace is a two-sided marketplace operating a website and mobile apps that allow businesses to rent out locations to other businesses or individuals.[5] The marketplace allows hosts to set hourly rental rates and booking terms while taking 15% of the booking cost and providing liability insurance.[15][16] Users are connected to spaces including art galleries, lofts, rooftops, and other venues.[17][18]
Eric Shoup became CEO of the company in 2018.[19] In 2024, Shoup was replaced as CEO by Kevin Yuann.[14]
References
- ↑ Atherton, Annie (28 August 2024). "These People Make $250 an Hour Renting Out Their Homes for Commercial Shoots". Money. https://money.com/hourly-house-rentals-for-production/.
- ↑ 2.0 2.1 Bercovici, Jeff. "Introducing PeerSpace, An Airbnb For Small Businesses". https://www.forbes.com/sites/jeffbercovici/2014/02/25/introducing-peerspace-an-airbnb-for-small-businesses/.
- ↑ Griff, Brianna (22 December 2022). "Forget Airbnb, rent a Houston venue for your next party with Peerspace". https://www.chron.com/life/travel/article/rent-houston-venue-peerspace-17665068.php.
- ↑ "PeerSpace raises seed funds backed by Structure Capital". https://www.pehub.com/peerspace-raises-seed-funds-backed-by-structure-capital/.
- ↑ 5.0 5.1 5.2 "PeerSpace Raises $1.5 Million to Create an Airbnb for Creative Work and Meeting Spaces". 17 September 2014. https://techcrunch.com/2014/09/17/peerspace/.
- ↑ "PeerSpace gets Series A to propel its quest for offbeat spaces to rent in N.Y.C.". https://www.bizjournals.com/newyork/news/2015/11/10/peerspace-gets-series-a-to-propel-its-quest-for.html.
- ↑ "Peerspace launches in fourth city, brings short-term meeting space marketplace to Seattle – GeekWire". 20 January 2016. https://www.geekwire.com/2016/peerspace-launches-fourth-city-brings-short-term-meeting-space-marketplace-seattle/.
- ↑ "Alphabet's GV leads $16 million investment in site rental firm Peerspace". https://www.reuters.com/article/technology/alphabets-gv-leads-16-million-investment-in-site-rental-firm-peerspace-idUSKBN1K720P/.
- ↑ "Peerspace expands venue rentals in Australian market". 6 September 2022. https://thenibbler.com.au/article/peerspace-expands-venue-rentals-in-australian-market/.
- ↑ Magnus, Emma (December 8, 2022). "Londoners rent out homes as meeting spaces amid cost of living crisis". https://www.standard.co.uk/homesandproperty/interiors/working-from-home-costs-rent-out-home-work-space-b1043606.html.
- ↑ "Peerspace expands venue rentals in Australian market". September 6, 2022. https://thenibbler.com.au/article/peerspace-expands-venue-rentals-in-australian-market/.
- ↑ "Peerspace throws the doors open in Australia". https://www.architectureanddesign.com.au/news/peerspace-throws-the-doors-open-in-australia.
- ↑ Fulleylove, Rebecca (10 January 2023). "Mother Design's branding for Peerspace is inspired by its users" (in en-UK). https://www.creativereview.co.uk/mother-design-branding-peerspace/.
- ↑ 14.0 14.1 Bloomberg, Sara. "San Francisco startup poaches NerdWallet executive for CEO". https://www.bizjournals.com/sanfrancisco/inno/stories/news/2024/05/28/peerspace-hires-nerdwallet-executive-new-ceo.html.
- ↑ "At More Homes, Every Square Foot Is a Stage (for Rent by the Hour)". 2022-06-13. https://www.nytimes.com/2022/06/13/style/private-residence-rental-studios.html.
- ↑ Kristof, Kathy (7 May 2020). "Peerspace lets you put your house to work". https://www.latimes.com/business/story/2020-05-07/review-sidehusl-peerspace.
- ↑ "Introducing the Editor-Approved Airbnb for Hosting and Entertaining" (in en-US). 2022-12-14. https://www.housebeautiful.com/lifestyle/entertainment/a41758206/peerspace-review/.
- ↑ Brotsky, China; Eisinger, Sarah Mendelson; Vinokur-Kaplan, Diane (2019). Shared space and the new nonprofit workplace. New York, NY: Oxford University Press. pp. 158. ISBN 9780190940485.
- ↑ "Exclusive: Airbnb-like service for event venues is on a growth streak". 2018-03-15. https://www.bizjournals.com/sanfrancisco/news/2018/03/15/peerspace-growth-event-venues-airbnb.html.
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