Melbourne-based rental management startup Pleased.Property has been acquired for $2 million by ASX-listed real estate platform buyMyplace.com.au, almost exactly two years after it was founded.
The $2 million acquisition figure is comprised of $1.4 million in buyMyplace shares, plus $600,000 in cash.
Launched in 2016 by co-founders Gerard Holland, Domenic Saporito and Jeremy Goff, Pleased.Property provides a platform directly connecting landlords and tenants.
The app allows users to communicate, make transactions and even conduct property inspections via video link, without the need for third-party management companies.
Speaking to StartupSmart, Holland says the founders launched the company “because we hated our real estate agents”.
As both a landlord and a tenant himself, Holland wanted to improve the relationships between the two.
“As a landlord, if I know my tenant and if they know me, they will be more incentivised to look after the property,” he says.
“Having this person in the middle can make that experience worse for both parties,” he adds.
The startup was sold as a pre-revenue business, with buyMyplace focusing on the acquisition of the technology, Holland says. Read more
Stephanie Palmer-Derrien – Startup Smart – 10 Sep 2018