Topics
previous
AI
Amazon
Image Credits:Wirestock(opens in a new window)/ Getty Images
Apps
Biotech & Health
Climate
Image Credits:Wirestock(opens in a new window)/ Getty Images
Cloud Computing
mercantilism
Crypto
endeavour
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
privateness
Robotics
Security
societal
Space
Startups
TikTok
Transportation
Venture
More from TechCrunch
consequence
Startup Battlefield
StrictlyVC
Podcasts
TV
Partner Content
TechCrunch Brand Studio
Crunchboard
get hold of Us
StartupZeus Livingis the former casualty in the proptech world .
The Airbnb - back inauguration is reportedly “ wind down operations , ” as describe byThe Information . TechCrunch has reached out to the company for commentary but not see back at the time of penning .
Zeus Living has raised $ 150 million in debt and equity ( about $ 125 million of that was equity ) and its backers , besides Airbnb , includeInitialized Capital , CEAS Investments , TI Platform , NFX , Opendoor ’s Eric Wu and Y Combinator .
plant in 2015 , Zeus Living protrude its living by redecorating landlords ’ homes and lease the furnished property principally to relocated worker for 30 - day stays ( or longer ) for a new type of incarnate housing . It then extend its focus and develop into a company that afford people — not just corporate employees — more options to generally move around with less commitment . The company list home plate on its site , emphasizing that it was not a marketplace and rather direct do the homes it offer — from curation to contrive to belongings management and service .
When Zeusraised $ 55 millionin October of 2021 , CEO and co - founding father Kulveer Taggar told TechCrunch that the capital would go toward “ engender more home . ” The fellowship was at the metre still benefiting from the remote work rotation fueled by the attack of the COVID-19 pandemic .
But interest rate since then have climbed to their highest level in two ten , making it harder and more expensive to purchase homes and cutting into revenue that companies like Zeus could make on their investments . According to The Information , the party pen in an email to landlord Monday that it was “ struggling financially ” and would “ no longer be capable to make payments on menage . ”
Airbnb invested in the company’s$55 million Series B roundin 2019 , when the ship’s company had grow to a $ 100 million revenue run pace and was valued at $ 205 million .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
By contrast , another startup in the pliable living blank that continue to grow isAnyplace , whichrecently raised $ 8.27 million in Series B financial support .
material acres tech companies continue to get hammered by high-pitched mortgage rates
