In a radio interview with Spanish radio broadcaster RNE, the CEO and Co-Founder of Spotahome Alejandro Artacho has revealed that his company is working on a new product around longer-term rentals which he described as “purely transactional”.
Known for medium-term rentals in major European cities catering to the international ex-pat and student market, in June Spotahome had to undergo a restructuring because of Covid related travel restrictions. Now though, according to Artacho, his company’s focus is on longer-term tenancies catering to domestic demand, a strategy which could be said to be mirroring that of Airbnb which itself has shifted focus to longer-term stays.
In an engaging interview, the serial entrepreneur revealed that Spotahome was his fourth business venture and that when he went on a Series B funding round to Silicon Valley in 2018 (which resulted in a landmark investment of some $40 million from Kleiner Perkins), he and his fellow founders suffered from a lack of confidence.
Speaking more broadly on the subject of entrepreneurship in Spain, Artacho said that entrepreneurs should be celebrated more in the country like they are in America and that he has a responsibility to be an example for future generations of Spanish founders.