News and Announcements
Australia StartUp Lets Australians Do Chores Instead of Paying Rent
- Published May 18, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The Room Xchange platform, is a new Australian Startup, which works like a mixture of Airtasker and AirBnB- no money can be exchanged between the host and/or guest. The Boarder offers labour for tasks the host puts on their profile, such as babysitting, gardening and cooking for up to 14 hours per week.
KEY TAKEAWAYS:
- Founder and chief executive Ludwina Dautovic said her idea addresses a need for many young Australians locked out of the property market and homeowners with no spare cash after paying off the mortgage.
- The startup, which already claims to have users in 24 countries from a soft launch earlier this year, generates revenue by charging a $2 per day for the duration of each stay from both the host and guest.
- However, to lure new users, for a limited time it’s offering the first exchange for free.
“The Room Xchange provides immediate relief to critical social and economic issues by unlocking 7 million unused spare rooms across Australia,” she said.
“Hosts get their time back and guests gain access to affordable mid- to long term housing.”
Economist and Grattan Institute productivity growth director Dr Jim Minifie, who was at Tuesday’s launch in Melbourne, said the real estate sector had done very well out of the sharing economy concept.
“I believe new businesses in this sector will benefit from AirBnB’s success, as many people have had positive experiences — so they are more willing to try new platforms,” he said.
The project has been bootstrapped thus far, with Dautovic mortgaging the family home to get the company off the ground. The venture is now seeking its first external capital, opening up the round at the launch this week and aiming to close on June 30.
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