Roomi Acquires New York-Based The Room Ring, Consolidating Well-Regarded Shared Housing Service with Industry Leading Shared Housing and Roommate Market Platform
NEW YORK–(BUSINESS WIRE)–June 12, 2017–
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170612005328/en/
The Room Ring was founded in 2015 as a mobile platform for finding roommates and room rentals. With a focus on finding compatibility between roommates and integrating into user’s social networks, The Room Ring continues to add enthusiastic users to its growing community.
The acquisition follows Roomi’s own rapid growth since its launch two years ago, during which time Roomi has grown its user base to over 750,000 users while expanding its services across 18 major cities. This is the most recent acquisition following the acquisition of Room.me in the Summer of 2016.
“Young people are looking to rent over buy now more than ever,” said Ajay Yadav, CEO of Roomi. “Whether they are forced to because of student loans and the high cost of living or they are embracing the nomadic lifestyle, millennials need access to flexible, immediate, verified shared housing options. The Room Ring agrees that these trends are not going away anytime soon, and we are happy that our visions are so closely aligned. For these reasons an acquisition made a lot of sense, especially since their focus was also on NYC!””
The Room Ring users will be transitioned to the Roomi platform immediately, adding additional new users in New York and other cities in the US. The Room Ring’s user base will benefit from stronger infrastructure and development support going forward.
“Roomi has established itself as the clear leader in the shared housing space,” said Lia Wayman, CEO of The Room Ring. “This acquisition provides The Room Ring’s users with access to a significantly larger network of roommates across more geographies. Once we had the chance to discuss our similar visions for the future of the rental industry, it was a no-brainer to add our efforts to Roomi’s.”
Roomi is a free mobile app and web experience that simplifies the housemate and housing search in major cities, where it’s often unaffordable to live alone. The shared living platform makes it easy for people to post and list rooms and connect safely, reinventing the way people search and find housemates in the rental industry. CEO and Founder, Ajay Yadav, developed Roomi after witnessing the need for a platform that not only helps people find housing, but also the right people to live with. With Roomi’s personality and compatibility checks, users can take their search to the next level – finding a home, not just a housemate. Roomi is available in New York City, San Francisco, Los Angeles, Chicago, San Diego, Houston, Dallas, Austin, Philadelphia, Boston, Washington D.C., Baltimore, Seattle, Miami, Orlando, Atlanta, Vancouver and Toronto, and is expanding rapidly, both in the U.S. and internationally.