Her Roomies
Her Roomies, as the name suggests, is a platform that focuses on women's rental housing. A simple, clear and single-click new venture. Before analyzing the four elements of new ventures, we must first introduce a fundraising tool that is very common in foreign countries, but Taiwanese investors do not like to use - Convertible Bond / Note. In Chinese, it is translated into convertible corporate bonds, but as I just said, knowing Chinese is not quite useful, and it can only help you to check it on Wikipedia. If you really want to use it, you have to find overseas investors.
Here, in order to let everyone know more about convertible corporate bonds, I found an article that is clearer than Wikipedia. Those who are interested can take a moment to read: Investment does not have to take shares immediately.
The following officially enters the analysis of Her Roomies:
1. Pain points:
Her Roomies' briefing, which doesn't mention pain points, uses a positive statement about how big the Addressable Market is:
- Europe plus the US, a $985 billion market
- Europe plus US, 264 million tenants
- 50% of tenants worldwide are women (nonsense)
- 30% of women who live in Share House want their roommates to be women
2. Solution:
- Market Positioning: Claims to be the only platform that focuses on women's rental housing
- Business model: Bilateral fee system
- Peripheral service expansion opportunities, such as: shopping, tourism, activities -> From the perspective of an investor, I do not agree with the development of peripheral services by the team.
Since I found a market that has the opportunity to subdivide and monopolize, I should All-in and bet all resources. As mentioned at the beginning of the briefing, copy the crazy to Europe and the United States, betting that you can go public or be acquired by Airbnb and so on.
Click through and see a better example, that is, ChargeSpot, which shares mobile power supplies, has now occupied four countries, and ChargeSpot has been using the power of crazy distribution and funds to build strong barriers to competition.
3. Competitive barriers:
- 6003 registered users in 2021
- 44,000 listings
- Rental Request Value 2021, 2021 is for people who want to rent a house, with a cumulative revenue of 708,000 euros
4. Team:
- Co-Founder and Joint MD Chiara Fraser, from experience, it seems that most of them are doing marketing and activities. In addition, she has done a project related to housing rental in 2017, "Working directly with the CEO to develop and launch a new "student housing concept for Spain" is relatively worth noting, but the CEO is obviously her father, so she just uses a statement to package her own entrepreneurial project to help her father.
- Co-Founder and Joint MD Nick Fraser, who founded YOU Student Living in 2017, looks like the predecessor of Her Roomies, plus Nick himself claims to have 35 years of real estate investment and operating experience, which is a plus.
On the whole, I think this place can be invested or not. I have invested in it myself, but that was when I did not fully read the fundraising case last night. From what I can see now, their expansion plans and fundraising plans are in conflict. For example, in 2023, it is expected to hit the market in five countries, but it is only expected to raise 300,000 euros. This money will only build teams in these five countries. It is probably not enough.
In reverse, it is the team, or the logic is not good enough, or the ambition is not strong enough, so for the above two points, I give Her Roomies 2.5 stars.
How many stars do you think Her Roomies has? Please leave a comment below, like and share!
Fundraising link for Her Roomies:
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