Roommate-matching startup Roomi acquires third rival

Company raised $11M in November

TRD New York /
Mar.March 01, 2018 09:00 AM

Ajay Yadav, Peter and Simone Kalmakis

Merger mania in the roommate matching economy continues. Roomi, an online room rental platform, said Thursday that it is acquiring its rival Symbi.

Symbi is the third competitor Roomi is acquiring, following deals with in 2016 and The Room Ring last year. Founded by Ajay Yadav in 2015, Roomi recently raised $11 million in a Series A round.

Roomi’s mobile app is a little like Tinder for roommates: users can swipe through profiles of potential roommates or room listings until they hit a match. The company offers background checks on users and a basic roommate agreement. It charges up to 10 percent of the first month’s rent for any lease signed through the app.

Symbi was founded in 2014 by Simone and Peter Kalmakis and markets an app similar to Roomi’s. Yadav said he decided to acquire the company because of its customer base — which he will try to move over to Roomi — and its roommate-matching algorithm.

Yadav claims Roomi has 1.1 million registered users and 280,000 rooms listed on its app. Eventually, he predicted, a single firm will dominate the New York roommate listing market the way Facebook does social media. “One leader needs to evolve,” he said. “I think we have a clear chance of making it.”

Related Article

Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind LLCs anymore

Aggressive iBuyer Opendoor acquires title and escrow company

Here are 5 takeaways from TRD’s deep dive into Eklund-Gomes’ national expansion

Fears about privacy and Big Brother-like tactics in real estate are taking hold

Nashville broker posts oral sex selfie alongside kitchen and pool listing pics