Co-living companies

• They are defined as companies that provide private bedrooms for rent in large buildings, where some facilities such as bathrooms or kitchens are shared, similar to sharing a house or apartment with roommates.
• The difference lies in the flexibility, higher standard, and membership communities that are created.
• The possibility to use an App to handle repairs and billing is also a plus.
• Examples of Co-living companies in the US include Common, Starcity, WeLive, Quarters, and X Social Communities.
•  Ollie is another company in the Co-living space.
•  Rent24 is a Co-living company with assets in Europe.

Valuation of Co-living companies

• PMG has partnered with a private equity firm called Raven Capital Management to build XSC with $300 million in equity.
• XSC has plans for 10,000 units for rent in the US.

• Starcity has been founded in 2016 and received Series A funding of $16.5 million in March 2018 from 7 investors led by Bullpen Capital.
• Its latest funding round was a Series B of $12 million in March 2019.
• It has raised a total of $32.23 (20.3+12) million since its foundation through three funding rounds: a Seed round, a Series A round, and a Series B round. 
• The company is based in San Francisco. 
• Starcity has a value estimated at $50-$100 million.
• Its revenue is estimated at $3 million. 
• Its portfolio consists of 7 communities in San Francisco and 3 in Los Angeles. 
• Starcity has received approval to build two new community buildings in San Francisco and San Jose, due to open in 2021, with respectively 270 and 803 new units. 

• Ollie was founded in 2012 in New York and received $15 million over 2 rounds, the latest being Series A in January 2018.
• The company is seeking a further $50 million in the next round.

Shared Spreadsheet