SpareRoom’s goal is to expand its presence in France and grow its brand.
On the acquisition, Rupert Hunt, CEO and Founder of SpareRoom, said:
“In the past, we had already acquired smaller competitors in Great Britain and across the Atlantic. But this is our first large-scale acquisition in Europe. This project motivates us greatly. We are very much looking forward to expanding in France to grow our global base of over 11 million users."
With this acquisition, Apparteger will be further optimized. SpareRoom will focus next on product development, improving customer satisfaction, pump more funding into marketing, and expand its share in the French market.
“For several years we have been watching the French colocation market with attention. We have always considered launching a SpareRoom entity in France. Acquiring Appartager thus offers us the possibility of nurturing this ambition by relying on a recognized and popular brand.”
When asked about the development potential of shared accommodation in France, Hunt explained that with the increase in rent prices in metro areas and the Covid-19 crisis affecting many financially, home-sharing is expected to jump up in popularity, similarly to the 2008 financial crisis.