The acquisition terms were not disclosed. However, with this acquisition, Blueground gains access to Nestpick’s tech, integration infrastructure, and expertise, to establish its Partner Network. Blueground is set to launch an invite-only Partner Network that will consist of a curated set of pre-vetted, third-party furnished apartment providers and their portfolio of units. The network is commencing its launch with 18,000 units, and aims to expand even further by adding 50,000 units by the end of 2024. These apartments will be located in both established markets and new markets, as part of the company’s growth plan.
Blueground’s press release states that, this acquisition allows them to launch their newest product and strategic growth initiative, Blueground’s Partner Network. Their path to continue expanding their global network takes place via two strategies:
- Expansion of their core model, which is to partner with landlords, design and furnish apartments to add high quality furnished inventory; this being their model since inception.
- With the launch of the Partner Network, they are now adding existing furnished rental supply by collaborating with leading operators.
“Blueground has been building the future of living over the last decade with the goal of not only becoming the largest, curated global network for 30+ day stays, but also supporting people in their journey to find and book high quality, furnished rentals to explore the world easily.” said Alex Chatzieleftheriou, Blueground’s CEO and Co-founder.
“We are thrilled to welcome the Nestpick team to Blueground as we look forward to further developing the Partner Network and improving the rental experience for the 30+ day sector.” he added.
Blueground was Co-founded in 2013, by CEO Alex Chatzieleftheriou in Athens, Greece. Blueground is funded by 14 investors, with DisruptAD and Silicon Valley Bank being the most recent ones. Their platform offers thousands of quality, fully furnished apartments in major cities around the world for 30+ days stay, and also manages their entire stay through a guest app. Renters are free to book on the terms they want. Having over 15,000 move-in ready apartments in 30 cities worldwide, Blueground aims to reach 50 major cities and have around 40,000 apartments worldwide by 2025.
According to their website, they have 1200+ employees worldwide, 5,000 landlord and property owner partners, 4,000 organizations that book with them, 40,000 brand partners, and 32,000+ guests that they’ve hosted.
As per Crunchbase's and Growjo's data, Blueground is ranked 144,888 among websites globally based on its 349,431 monthly web visitors and their current estimated annual revenue is approximately USD 347.2M per year, with their current valuation being USD 750M (as of September 2021).
“During the last seven years, Nestpick has connected millions of people with furnished rentals around the globe and achieved profitability – something we are very proud of,” said Omer Kucukdere, VP of Blueground Partner Network.
He further adds, “We are looking forward to joining the Blueground team as we believe in the company and the combined power of the two companies to impact the 30+ day sector.”
Established in 2016, Nestpick is a digital platform connecting those seeking furnished rentals for 30+ days globally to properties around the world. The company’s founders are Anil Yeni, Fabian Dudek, Omer Kucukdere, Patricia Moubarak, Peter Hofman. The platform caters to expats, business travelers and international students. Nestpick’s marketplace consists of over 120 of the best operators offering monthly stays with 40,000 listings in 3,000 cities globally. It works with trusted partners such as Airbnb, Spotahome, Blueground, Bungalow, Kasa, Homelike, June Homes, Habyt, HousingAnywhere, Wunderflats, Pepe Housing and more. Nestpick is headquartered in Berlin, Germany and the New York City. The platform had over 15 million users and generated USD 80 million in gross booking value in 2022.
According to the data available on Crunchbase and Owler, Nestpick is funded by 6 investors. B2venture (formerly btov Partners) and Target Global being their most recent ones. Nestpick is ranked 160,108 among websites globally based on its 304,769 monthly web visitors and its estimated annual revenue is approximately around USD 5M-25M.
Blueground’s acquisition of Nestpick is a strategic move towards reshaping the landscape of their property management market.