• Like New Condition - Launched on November 2019 -

Hi there, we are three co-founders selling our old startup to launch a new one. As part of this deal, you will get a sweet 1% stake in our new startup.

Homebase launched on November 6th of 2019 as a marketplace that connected renters looking for shared housing. It matched renters to roommates and then matched them to properties. We did this by leasing vacant properties at a discount and then subleasing them at a premium. Our costs were high due to rent obligations and low tenant volume, but we were able to grow to $10,300 MRR by February of 2020.

Then COVID-19 happened and we were forced to renegotiate our lease/sublease contracts with our landlords over to a fee-based monthly commission (10%)—losing a lot of properties in the process. With this new fee-based model, our MRR dropped to $200 in March, but we were able to survive because we had no contractual obligation to pay rent. As you can imagine, we were broke and living together.

In April of 2020, we were accepted into Parallel 18, a top 20 startup accelerator, because we had good traction and a big market with our new pivot. We were no longer a shared housing marketplace, but rather, a robo-property manager that automated away property management for landlords. This turned out to be a mild success and we quickly grew to $1,100 MRR over the following 5 months of the startup program—all the while lowering fees to 5%.

On October, we were invited to interview with YCombinator for W2021. At this point, things were going well, and despite our low cash balance, the company was able to maintain itself from revenues. We also stopped paying ourselves $1,500/mo salaries in November to stay alive while growing at ~4-5% week-over-week.

Our interview in December didn’t go to well, and we were not accepted. We had to shut-down by mid-January.

You’ll be getting our startup, all of our code, some help from us to transfer over our IP, the domain name renthomebase.com, and a 1% stake in our next company. We’ll even throw in our old users (if we can convince them) and some of our old equipment (a laptop, some Ikea desks, stereotypical startup books, pens, a camera so you can photograph your users’ properties, and two chairs).