Madrid-based medium-term rentals platform is set to reach profitability for the first time next year, says CEO Alejandro Artacho.
The startup has raised almost €100M in funding since its inception in 2014 but has undergone numerous rounds of layoffs to stay afloat, including cutting up to 80% of jobs during the pandemic, with Artacho openly admitting that a number of high-profile C-level hires hadn't worked out.
In an interview with Spanish publication Expansión, Artacho highlighted lower costs as the key driver to Spotahome's brighter future. Artacho forecasted transactions processed through its marketplace will reach €300M in 2023, a 50% increase on 2022.
Artacho said the company will earn up to €30M in revenue this year, while losses will drop to €2M in 2023, down from €6M in 2022
“Each quarter we burn less money; we expect to be fully profitable in 2024,” Artacho commented.
Spotahome currently has over 120,000 fully-online rentals in nearly 100 cities on its platform.
The rental portal operator Rent.com.au has released a report on its activities for Q3 of the Australian financial year. Highlights...
Read More
Schibsted, the Norwegian conglomerate that operates marketplaces in the Nordics, Europe and Latin America, has released its Q1 2024 numbers...
Read More
Adevinta has received regulatory approval for its imminent acquisition by Aurelia Bidco Norway, comprised of the Permira and Blackstone consortium....
Read More
This week's hiring roundup is shorter, but our two stories both come straight from the C-suite. Lamudi Philippines hires...
Read More
