42Floors (YC W12) Raises $12.3M Led By NEA
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42Floors (YC W12) Raises $12.3M Led By NEA
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Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#2Since launching a year ago, 42Floors says that it has connected some 1,000 businesses with over 2 million square feet of office space
Assuming very conservatively that an office with 20 employees requires 4400 sq ft, 2million/4400=454. Isn't that an extremely low number for one year of operations?
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#3Since launching a year ago, 42Floors says that it has connected some 1,000 businesses with over 2 million square feet of office space Assuming very conservatively that an office with 20 employees requires 4400 sq ft, 2million/4400=454. Isn't that an extremely low number for one year of operations?
I know nothing about the industry, but I'd guess you'd have to compare that number against how many office placements traditional commercial real estate agents place. Using your number, that's still more than one company placed per day, which sounds pretty impressive to me.
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#4Since launching a year ago, 42Floors says that it has connected some 1,000 businesses with over 2 million square feet of office space Assuming very conservatively that an office with 20 employees requires 4400 sq ft, 2million/4400=454. Isn't that an extremely low number for one year of operations?
"1,000 businesses with over 2 million square feet of office space."
They are connecting on average 2,000 sf per office, so they are smaller startups, probably averaging 10 employees.
>Isn't that low for one year of operations?
I'd be pretty happy with that ramp. Those are serious numbers in a short span of time. I worked in Multifamily brokerage so we sold apartment complexes rather than renting office space, but the average broker would sell between 1 and 5 assets a year.
Helping to facilitate 1,000+ transactions from a ramp of zero is awesome.
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#5Since launching a year ago, 42Floors says that it has connected some 1,000 businesses with over 2 million square feet of office space Assuming very conservatively that an office with 20 employees requires 4400 sq ft, 2million/4400=454. Isn't that an extremely low number for one year of operations?
Not necessarily. With startups it's all about growth, and your calculation misses that completely. For example, your number implies they do a "sale" about once a day, however if they've seen good growth, they might have been doing one "sale" a week last year, and 30 "sales"/week today.
Remember that in the early stages exponential growth looks worse than even linear growth. (example: http://www.wolframalpha.com/input/?i=y%3D1.5%5E%28x-3%29%2C+...)
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#6My early stage startup has been looking for commercial real estate in New York City and the entire process is just broken. No transparency, no reputation system, no repeat game for brokers. I'm hopeful 42Floors can bring needed innovation to this industry.
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#7My early stage startup has been looking for commercial real estate in New York City and the entire process is just broken. No transparency, no reputation system, no repeat game for brokers. I'm hopeful 42Floors can bring needed innovation to this industry.
let us know if we can be helpful Seth. It's a tough, tough problem. But we're working our asses off to make it easier...
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#8Congrats to 42floors.
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#9So...when are you coming to Boston?
Re: 42Floors (YC W12) Raises $12.3M Led By NEA
#10Since launching a year ago, 42Floors says that it has connected some 1,000 businesses with over 2 million square feet of office space Assuming very conservatively that an office with 20 employees requires 4400 sq ft, 2million/4400=454. Isn't that an extremely low number for one year of operations?
This is a marketplace business. You can't expect explosive growth when dealing with a two-sided market. You have to grow solidly on both sides or you risk having too much supply or demand, and alienating your early customers.