Peerspace

Peerspace operates an online marketplace, accessible via website and mobile apps, through which owners of spaces list them for hourly rental to businesses and individuals. Listed venues include art galleries, lofts, rooftops, dance studios, photography studios and private homes, and are used for meetings, offsites, classes, photo and video productions, and events. Unlike home-sharing platforms that restrict gatherings, Peerspace venues are intended for events.

The company was founded in San Francisco by Rony Chammas and Matt Bendett, who had previously worked together at Electronic Arts, with the goal of building a business-to-business analogue to Airbnb for productive spaces. Early customers included employees of LinkedIn, Instacart, General Assembly and Fitmob using the platform for Bay Area offsites. Hosts create listings through a mobile app, set hourly rates and booking terms, and manage their calendars and booking requests. As of May 2024 the marketplace listed more than 45,000 venues with operations in seven countries across three continents; a separate account cited roughly 40,000 spaces across North America, Europe and Australia.

Founding story

Rony Chammas conceived the idea while a student at NYU Stern School of Business, when he needed meeting places for student organizations he belonged to. He founded the company in San Francisco with Matt Bendett, a former colleague from Electronic Arts, aiming to create a B2B version of Airbnb for productive spaces.

Business model

Peerspace runs a two-sided marketplace connecting space owners (hosts) with guests booking by the hour. Hosts set their own hourly rates and booking terms; the platform takes 15% of the booking cost and provides liability insurance.

Commission on bookings, reported at 15% of the booking cost, with liability insurance provided as part of the platform offering.

Traction

Early after launch the company reported 37% month-over-month booking growth and 30% repeat usage among customers who tried the platform. By May 2024 it reported one million cumulative bookings, half a billion dollars in sales completed through the platform, and more than 45,000 listed venues. A 2024 account described the company as profitable with $100 million in revenue on $500 million of turnover.

Latest developments

Kevin Yuann became CEO in May 2024, arriving from NerdWallet. The company stated it intends to expand beyond venue rentals into adjacent categories. Reporting from 2024 described the business as profitable with $100 million in revenue from $500 million in turnover.