US: Furnished rental operator Blueground has announced the acquisition of monthly furnished housing provider Nestpick, its third purchase in the last 12 months.
Through the acquisition, Blueground will launch an exclusive, invite-only Partner Network that will consist of a curated set of pre-vetted, third-party furnished apartment providers and their portfolio of units. The Partner Network will initially add over 18,000 units to Blueground’s established network of apartments around the world and will provide guests with additional options and access to furnished apartments around the world.
A digital platform for furnished rentals of 30+ day stays, Nestpick had over 15 million users and generated $80 million in gross booking value in 2022. Blueground will now utilise Nestpick’s technology, integration infrastructure and expertise as a global platform to establish its Partner Network and grow its business beyond its core network of managed properties.
Founded ten years ago, Blueground claims to operate the largest, curated global network of furnished rentals for 30+ day stays for individuals and corporate clients alike.
Alex Chatzieleftheriou, co-founder and CEO of Blueground, said: “Blueground has been building the future of living over the last decade with the goal of not only becoming the largest, curated global network for 30+ day stays, but also supporting people in their journey to find and book high quality, furnished rentals to explore the world easily. We are thrilled to welcome the Nestpick team to Blueground as we look forward to further developing the partner network and improving the rental experience for the 30+ day sector.”
Launching initially with 18,000 units, Blueground is aiming to add 50,000 units to its Partner Network by some point in 2024. The apartments will be located both in existing Blueground markets, as well as markets the company is not yet in, as it continues its strategic and ambitious growth plan.
Nestpick currently works with 120 professional operators in the 30+ day sector and connects with nearly 40,000 listings around the world. Blueground says that it will bring selected partners and their portfolio of listings over to the Partner Network, such as Kasa Living and Placemakr, based on established criteria to meet the needs of current and future Blueground guests.
The Partner Network properties will be listed on Blueground‘s website, denoting the partner operator, creating an easier way for travellers to find trusted rentals for monthly stays.
Partners will also benefit by having access to Blueground’s core operations expertise including in-house marketing and photography, cleaning services, on the ground operations teams, 24/7 customer service, background checks, and insurance.
Founded in 2016, Nestpick will continue to operate as an independent platform under the leadership of Aycan Özcan, while current CEO Omer Kucukdere will join Blueground as VP of the Partner Network.
Kucukdere said: “During the last seven years, Nestpick has connected millions of people with furnished rentals around the globe and achieved profitability – something we are very proud of. We are looking forward to joining the Blueground team as we believe in the company and the combined power of the two companies to impact the 30+ day sector.”
It represents Blueground’s third acquisition in the last twelve months, following the purchase of Brazilian proptech startup Tabas in November and on-demand furnished rental company Travelers Haven in February.
In April, Blueground quietly announced company-wide layoffs [although it is unclear how many employees were affected], with some staff claiming on social media that the redundancies were due to economic uncertainty following the collapse of Silicon Valley Bank [SVB].
