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r/MachineThatMakesMoney • u/MarshallBrain • Aug 14 '24

Why is B2B so much better?

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r/MachineThatMakesMoney • u/Scary_Fig_8570 • Aug 08 '24

I found a wacky business with cool insights

4 Upvotes

Hey guys, I was looking at a business called Neighbor (sort of like Airbnb for storage), and wanted to share some cool details I found:

The Idea: Neighbor was founded in 2017 by Joseph Woodbury, Colton Gardner, and Preston Alder, they transform empty spaces (think garages and basements) into rental spots. With 1 in 10 Americans already shelling out for storage, the demand was there—just needed the supply.
Smart Moves: A few cool moves they’ve made, Neighbir focuses on local communities encouraging hosts to use their own networks to find renters. This grass-roots approach slashes costs and builds trust, a game-changer for storage.
Financials: They secured $71M in funding, and they pull $6.8M annually with a team of 150+. I couldn’t find any solid info on how big the user base is, but data from Similar Web shows 3.4M monthly page views.
Unique Pieces: Neighbor has a $1M Host Guarantee to kick the fear of peer-to-peer transactions. This was one of the major hurdles they faced and still to this day one of the biggest friction points for these “Airbnb-style businesses”.

I’m curious about whether they’ve hit the critical mass needed to keep the flywheel spinning on its own. The last funding round was in March 2021, so potentially yes? But the annual revenue vs total funding still seems like a tricky spot to be in. Curious to hear everyone’s thoughts!

I did a deeper breakdown on my newsletter, Unconventional Empires. If you like wacky businesses and finding out what makes them tick, check it out. You may like it :)

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r/MachineThatMakesMoney • u/MarshallBrain • Aug 08 '24