42floors

42Floors
Private
Industry Real estate
Founded 2011
Headquarters New York City
Key people

Jason Freedman, founder & CEO
James Bracy, Co-founder
Jon Bracy, Co-founder
Ben Ehmke, Co-founder

Alison DiSpaltro, Co-founder
Website www.42floors.com

42Floors is a web-based real estate company providing tenants, brokers, and landlords the ability to see available commercial real estate in a given market.[1][2][3] 42Floors was founded in November 2011 by Jason Freedman, Alison DiSpaltro, Ben Ehmke, and brothers, James and Jon Bracy.[4][5] The company is headquartered in South of Market, San Francisco, California.[1][4]

History

42Floors first went through the tech accelerator Y Combinator in the winter of 2012.[6][7] The company initially launched service in San Francisco, California.[2][8][9] In its first year, 42Floors helped over 1,000 companies find more than 2 million square feet of office space.[10][11]

In November 2012, 42floors launched its services in New York City.[7][9][12] Initially the company built an eCommerce platform called showroom in order to generate revenue.[6][13] Later 42Floors experimented with tenant broker partnerships and took revenue from a referral fee at the close of a real estate transaction.[3][9][14] In late 2014, the company created its own real estate brokerage team in San Francisco and New York City.[15] At the start of the second quarter in 2015, 42Floors discontinued its real estate broker services and refocused on being a national search engine for office space.[15]

Funding

42Floors raised $400,000 from Y Combinator (company) and SV Angel's Start Fund.[3]

In 2012, the company announced its $5 mm series A round of funding.[2][7][9][12] Notable investors included the owner of Kushner Properties, Jared Kushner, his brother, Joshua Kushner, and Jeremy Levine of Bessemer Venture Partners.[7][12]

In 2013, 42Floors raised another $12.3 mm for the company's series B funding.[2][6][10][11] The round was led by New Enterprise Associates, included Columbus Nova, and saw participation from Series A investors Bessemer Venture Partners and Thrive Capital.[2][10]

References

  1. 1 2 "Company Overview of 42Floors Inc.". bloomberg.com. Bloomberg LP. Retrieved 1 July 2015.
  2. 1 2 3 4 5 Perez, Sarah (March 19, 2012). "42Floors Takes Commercial Real Estate Online". techcrunch.com. AOL Inc. Retrieved 1 July 2015.
  3. 1 2 3 Sinan, Michael (March 19, 2012). "42Floors: hacking commercial real estate so you can find a dream office". venturebeat.com. Venture Beat. Retrieved 1 July 2015.
  4. 1 2 "42Floors". crunchbase.com. AOL Inc. Retrieved 1 July 2015.
  5. ↑ Bury, Erin (March 19, 2012). "42Floors Launches Commercial Real Estate Search Tool". betakit.com. BetaKit, Inc. Retrieved 1 July 2015.
  6. 1 2 3 Grant, Rebecca (January 31, 2013). "42floors takes $12.3M to hack commercial real estate at home, abroad". venturebeat.com. Venture Beat. Retrieved 6 July 2015.
  7. 1 2 3 4 Shontell, Alyson (November 16, 2012). "35 Of The Best Early Stage Investors Just Put $5 Million Into Office Lease Search Engine, 42Floors". Business Insider. Retrieved 6 July 2015.
  8. ↑ Newton, Casey (March 19, 2012). "42 Floors offers listings of office space". sfgate.com. San Francisco Chronicle. Retrieved 6 July 2015.
  9. 1 2 3 4 Empson, Rip (November 16, 2012). "42Floors Raises $5M From Dave McClure, Alexis Ohanian, Others, Expands Office Search Site To New York". techcrunch.com. AOL Inc. Retrieved 7 July 2015.
  10. 1 2 3 Carney, Michael (January 31, 2013). "42Floors gets $12.3M to make finding office space suck less". pando.com. Pando Daily. Retrieved 6 July 2015.
  11. 1 2 Dineen, JK (January 31, 2013). "42 Floors raises $12.3M, plans expansion". bizjournals.com. San Francisco Business Times. Retrieved 6 July 2015.
  12. 1 2 3 Carney, Michael (November 17, 2012). "For 42Floors, it's not how much but how". pando.com. Pando Daily. Retrieved 7 July 2015.
  13. ↑ Blum, Jonathan; Alex Dalenberg (July 16, 2013). "Entrepreneur Finds a Niche in Tenant-Friendly Commercial Space Listings". entrepreneur.com. Entrepreneur. Retrieved 7 July 2015.
  14. ↑ Weiss, Lois (January 15, 2014). "Brokers and owners take to cyber space for tenants". New York Post. Retrieved 7 July 2015.
  15. 1 2 Colleen, Taylor; Sarah Buhr (March 3, 2015). "42Floors Lays Off Half Of Staff As It Cuts Brokerage Team, Refocuses On Search". techcrunch.com. AOL Inc. Retrieved 14 July 2015.

External links

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