![\"zumper--padmapper\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2016\/02\/zumper-padmapper.png\")
<\/a>Image: Zumper<\/a><\/em><\/p>\nTwo online apartment-rental services move closer together as Zumper announces today it has acquired PadMapper.<\/p>\n
\u201cThe deal was a mix of cash and stock, less than $10 million,\u201d Devin O\u2019Brien, a Zumper spokesperson, tells BuzzBuzzHome News via email. \u201cWe unfortunately cannot disclose exact numbers.\u201d<\/p>\n
Forbes reports the deal was for \u201ca bit less than $10 million,\u201d citing an unnamed source.<\/p>\n
The two brands will remain distinct entities while Zumper acts as the parent company. However, both PadMapper\u2019s Chief Executive Officer Eric DeMenthon and its Chief Technology Officer Rob Crowell are joining Zumper.<\/p>\n
Zumper is an online rental listing service that also lets apartment seekers submit rental applications digitally. PadMapper is a map-based rental search engine that pulls listings from a variety of sources, as well as offering its own.<\/p>\n
Anthemos Georgiades, Zumper\u2019s CEO, notes in a statement what the deal means for his company.<\/p>\n
\u201cTogether, Zumper now becomes one of the largest players in the rental space, bringing us one step closer to our vision of bringing the ease of hotel booking into the apartment rental industry,\u201d Georgiades says.<\/p>\n
Zumper boasts more than a million rental listings, and says it drew four million visitors to its site in January alone. Based on projected Web and mobile traffic, it now expects to attract 67 million visitors in 2016.<\/p>\n
On PadMapper\u2019s blog today, Eric DeMenthon, the company\u2019s CEO, outlines some of the challenges of running what in some ways was a small business despite its popularity.<\/p>\n
\u201cOur office was some combination of my apartment living room and our local public library. The park outside the library was our call room,\u201d DeMenthon remembers.<\/p>\n
He also touches on how his company, which at the time of purchase has a staff of four, will benefit from the larger Zumper.<\/p>\n
\u201cFortunately, Zumper has figured out a lot of the things we haven\u2019t been good at historically, and we have very well aligned visions for the long-term,\u201d DeMenthon writes.<\/p>\n
\u201cHaving a dedicated mobile team\u201d and \u201cactual partner support, instead of just me answering emails when I find time between deploying new HAProxy configs\u201d are among the motivations for joining forces with Zumper, DeMenthon says.<\/p>\n
From the time DeMenthon founded the company in summer 2008, PadMapper has typically shelled out less than $1,000 annually on marketing. Beyond $20,000 of DeMenthon\u2019s own savings and $14,000 from startup fund Y Combinator in summer 2010, the company has been \u201cessentially bootstrapped,\u201d the CEO says.<\/p>\n
Certainly Zumper \u2014 and its existing 27-member team \u2014 will be able to provide PadMapper with additional resources.<\/p>\n
Since launching in 2012, Zumper has drawn venture capital funding totalling $20.2 million.<\/p>\n
Two online apartment-rental services move closer together as Zumper announces today it has acquired PadMapper.<\/p>\n","protected":false},"author":23,"featured_media":145700,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[8692],"apple_news_notices":[],"yoast_head":"\n