Peerspace Explained

Type:Private
Industry:Venue rental platform
Founded: in San Francisco, California
Location:San Francisco
Area Served:Global
Products:Rideshare

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 was originally only available in the San Francisco Bay Area. It has since expanded and states that it lists over 45,000 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] Structure Capital led a $1.5 million seed funding round.[3] Chammas and Bendett, his co-founder, previously worked together at Electronic Arts (EA).[4]

Following its 2014 launch in San Francisco, Peerspace expanded to Los Angeles and then to New York City in November 2015. The expansion to New York City coincided with a $5 million series A round of capital led by Foundation Capital.[5] In January 2016, the company launched in Seattle.[6] Two years later, in 2018, GV led a $16 million series B round.[7]

The company began its international expansion in 2021, launching in Canada and the United Kingdom.[8] By December 2022, it had more than 2000 hosts active in London.[9] It launched in France and Australia in 2022.[10] [11]

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. The marketplace allows hosts to set hourly rental rates and booking terms while taking 15% of the booking cost and providing liability insurance.[12]

Eric Shoup became CEO of the company in 2018.[13] In 2024, Shoup was replaced as CEO by Kevin Yuann.[14]

Notes and References

  1. Web site: Press | Peerspace. try.peerspace.com.
  2. Web site: Introducing PeerSpace, An Airbnb For Small Businesses. Jeff. Bercovici. Forbes.
  3. News: PeerSpace raises seed funds backed by Structure Capital .
  4. Web site: PeerSpace Raises $1.5 Million to Create an Airbnb for Creative Work and Meeting Spaces . 17 September 2014 .
  5. Web site: PeerSpace gets Series A to propel its quest for offbeat spaces to rent in N.Y.C. .
  6. Web site: Peerspace launches in fourth city, brings short-term meeting space marketplace to Seattle – GeekWire.
  7. News: Alphabet's GV leads $16 million investment in site rental firm Peerspace .
  8. Web site: Peerspace expands venue rentals in Australian market . 6 September 2022 .
  9. Web site: Londoners rent out homes as meeting spaces amid cost of living crisis. Emma. Magnus. December 8, 2022. The Standard.
  10. Web site: Peerspace expands venue rentals in Australian market. September 6, 2022.
  11. Web site: Peerspace throws the doors open in Australia .
  12. Web site: 2022-06-13 . At More Homes, Every Square Foot Is a Stage (for Rent by the Hour) . The New York Times.
  13. Web site: 2018-03-15 . Exclusive: Airbnb-like service for event venues is on a growth streak . 2024-11-02 . www.bizjournals.com.
  14. Web site: 2024-05-28 . San Francisco startup poaches NerdWallet executive for CEO . 2024-11-02 . www.bizjournals.com.

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