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.
Zillow has been named in a letter penned by American lawmakers urging the Federal Trade Commission (FTC) to call for...
Read More
Rightmove will be relegated from the FTSE 100 Index and join the FTSE 250 this month, according to FTSE Russell,...
Read More
This week's roundup starts with news that Lifull operates the number one rental portal in Japan, with some interesting analysis...
Read More
Nodalview, the real estate marketing platform used by more than 22,000 professionals in around 30 countries, has announced its acquisition...
Read More
