Apartment List Doubles its Valuation with Recent Funding Round

December 27, 2020
Share this Post: 

Rental platform, Apartment List, has raised $50 million in a recent funding round, doubling its valuation to over $600 million, effectively beating predictions that 2020 would be a harsh year for the platform. In fact, real estate across all sectors has been resilient this past year. 

Founder and CEO John Kobs told Bloomberg:

“Our business is predicated on motion, and in 2020 we became profitable.

“Mobility stood out this year as more users on our platform looked to change their living situation.”

Kobs explained that even now, they are looking at a possible IPO in the very near future. Kobs said:

“Being public has always been a goal of mine, and there’s a lot of appetite from institutional investors to support a company like Apartment List.”

Leading the round was Janus Henderson 

Portfolio Manager for Janus Henderson, Denny Fish, further explained: 

“Apartment List’s unique value proposition — at the intersection of an industry we find attractive, a supportive macroeconomic backdrop and a huge market opportunity ahead — makes this a really unique and interesting investment for us.”

The new funding will go toward boosting sales and attracting more renters to its platform. The website already has 30 million registered users and over 5.5 million units available in its inventory. 

Apartment List is a Silicon Valley startup that launched in 2009. How the platform works is that it collects fees whenever a listed apartment is rented out. Apartment List has effectively helped 175,000 people in Texas find new rentals this year, alone.

December 27, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Rightmove Opt 1
Rightmove Appoints Former Just Eat MD, Matthew Bushby as Its New CMO

British market leader Rightmove has announced the appointment of Matthew Bushby as its new Chief Marketing Officer. Bushby joins the...

Read More
Shutterstock 603344765
Casai Merges with Fellow LatAm Short Term Rentals Specialist Nomah After Job Losses

The Mexican short-term rentals marketplace operator Casai has merged with its Brazilian counterpart Nomah. Existing investors including a16z and Monashees...

Read More
Shutterstock 147091049
REA India Sidesteps Agents with Country's First User Subscription Service - 'Housing Premium'

The REA India-owned real estate portal Housing.com has announced the launch of a new user subscription service that aims to...

Read More
North Media Posts Q2 Financial Results—BoligPortal on Track

North Media, the media group and operator of Danish Portal BoligPortal, released its Q2 2022 financial report, with results "as...

Read More

Editor's Pick