Spacenow Company Profile

Background

Overview

Spacenow is a global peer-to-peer marketplace that connects individuals and businesses with underutilized spaces, enabling short-term rentals ranging from hours to years. Founded in 2015 in Sydney, Australia, the platform offers a diverse array of spaces, including offices, studios, event venues, and more, facilitating flexible and efficient use of commercial real estate.

Mission and Vision

Spacenow's mission is to create a more sustainable world by reducing underutilized space and making it accessible to those in need. The vision is to foster a sharing economy that promotes financial, social, and environmental sustainability through the efficient use of existing assets.

Primary Area of Focus

The company focuses on activating underutilized spaces, allowing property owners to monetize their assets and providing businesses with flexible, short-term rental options. This approach supports entrepreneurship and innovation by lowering the barriers to accessing commercial spaces.

Industry Significance

Spacenow operates within the sharing economy, a sector valued at $100 billion and projected to reach $330 billion by 2025. By facilitating the efficient use of commercial real estate, Spacenow contributes to the growth and evolution of this industry.

Key Strategic Focus

Core Objectives

Activation of Underutilized Spaces: Empowering property owners to monetize unused areas, thereby increasing income and reducing vacancies.

Support for Entrepreneurs: Providing flexible, short-term rental options that enable startups and small businesses to access commercial spaces without long-term commitments.

Sustainability Promotion: Encouraging the efficient use of existing assets to promote environmental sustainability.

Specific Areas of Specialization

Diverse Space Offerings: Listing a wide range of spaces, including offices, studios, event venues, and more, catering to various business needs.

Flexible Rental Terms: Offering rentals from as short as one hour to several years, accommodating different business requirements.

Key Technologies Utilized

Online Marketplace Platform: A user-friendly interface that connects space owners with renters, facilitating easy booking and management.

Concierge Service: A dedicated team that assists clients in finding and booking spaces tailored to their specific needs.

Primary Markets Targeted

Entrepreneurs and Startups: Providing affordable and flexible space solutions to foster business growth.

Established Businesses: Offering temporary spaces for events, pop-ups, and other short-term needs.

Financials and Funding

Funding History

Specific details regarding Spacenow's funding history, total funds raised, and recent funding rounds are not publicly disclosed. The company has established strategic partnerships, such as the one with Dubai's SEED Group, to support its expansion plans.

Notable Investors

Information about individual investors is not publicly available.

Utilization of Capital

Capital raised has been directed towards expanding Spacenow's platform, enhancing technological capabilities, and supporting international growth initiatives.

Pipeline Development

Key Pipeline Candidates

Spacenow continually expands its network of listed spaces, focusing on diverse offerings to meet various business needs. The company is also developing its proprietary incubation program, NOW Incubator, to support entrepreneurs in growing their businesses.

Stages of Development

Platform Expansion: Ongoing efforts to increase the number and variety of spaces available on the platform.

Program Development: Establishing and refining the NOW Incubator program to provide resources and support to entrepreneurs.

Target Conditions

The focus is on creating a sustainable and efficient marketplace for short-term commercial space rentals, benefiting both property owners and businesses.

Anticipated Milestones

Platform Growth: Achieving significant increases in the number of listed spaces and active users.

Program Launch: Rolling out the NOW Incubator program to support a growing community of entrepreneurs.

Technological Platform and Innovation

Proprietary Technologies

Online Marketplace Platform: A scalable and secure platform that facilitates the listing, discovery, and booking of spaces.

Concierge Service: A personalized service that assists clients in finding and booking spaces tailored to their specific needs.

Significant Scientific Methods

Data Analytics: Utilizing data to understand market trends, user preferences, and optimize space offerings.

User Experience Design: Implementing design thinking principles to create an intuitive and engaging platform for users.

Leadership Team

Key Executives

Daniel Gunning – CEO and Founder: With extensive experience in Australia's real estate industry, Daniel leads Spacenow's strategic direction and partnerships.

Barrett Ovens – Founder and Chief Technical Officer: An entrepreneur and UX designer, Barrett oversees the technological development of the platform.

Baydr Strik – Founder and Chief Financial Officer: A seasoned business accountant, Baydr manages the financial operations and strategic financial planning.

Nick Leary – Founder and Chief Creative Officer: A renowned photographer and creative strategist, Nick drives the creative vision and branding of Spacenow.

Leadership Changes

No significant leadership changes have been publicly reported.

Competitor Profile

Market Insights and Dynamics

The global sharing economy is experiencing rapid growth, with projections estimating a rise from $100 billion to $330 billion by 2025. This expansion is driven by increased demand for flexible and short-term space solutions across various industries.

Competitor Analysis

Venyooz: A platform offering short-term space rentals, focusing on diverse space categories.

SpacetoCo: An online marketplace for short-term space bookings, emphasizing community engagement.

Spacer: Provides self-storage and space rental solutions, catering to personal and business needs.

Strategic Collaborations and Partnerships

Spacenow has formed strategic partnerships to enhance its market presence and service offerings:

SEED Group: A Dubai-based conglomerate, SEED Group partnered with Spacenow to establish its Dubai office and expand into the Middle East and North Africa (MENA) region.

Operational Insights

Spacenow differentiates itself through its diverse space offerings, flexible rental terms, and a user-friendly platform, positioning itself as a leader in the activated-space economy.

Strategic Opportunities and Future Directions

The company aims to: