Domio
| File:Domio logo.jpg | |
| Private | |
| ISIN | 🆔 |
| Industry | Hospitality |
| Founded 📆 | 2016 |
| Founder 👔 | Jay Roberts, co-founder & CEO; Adrian Lam, co-founder & COO |
| Headquarters 🏙️ | , New York |
Area served 🗺️ | Austin, TX; San Diego, CA; New Orleans, LA; Boston, MA; Nashville, TN; Philadelphia, PA; Chicago, IL; Phoenix, AZ |
| Members | |
Number of employees | 114 |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Domio is a technology platform focused on the travel sector serving apartment hotel accommodations to group travelers.[1][2][3]
History[edit]
Founded in August 2016, Domio is headquartered in New York and serves other US states.[4] The company's CEO and co-founder, Jay Roberts is a former real estate investment banker at Bank of America Merrill Lynch.[1][5] Roberts co-founded Domio with Forbes 30 Under 30 honoree, Adrian Lam.[1][6][7]
Funding[edit]
Domio raised $67 million in funding as of November 2018.[8] Most recently, the company raised $12 million in Series A funding from Tribeca Venture Partners and SoftBank Capital NY.[1][9] Upper90 invested $50 million into a joint venture with Domio in September 2018.[10][11][12][13]
Controversy, Illegal Permits and Lawsuits[edit]
Domio has come under scrutiny for their business practices in Boston, San Diego, Nashville and other cities. In Boston, Domio set up a fake Airbnb host named "Anthony" and rented out 88 units under the pseudonym.[14] In Nashville, co-founder and COO Adrian Lam received a court order from the Davidson County Circuit Court in June 2019 to stop renting out his North Nashville condominium, however, Lam was allowed to continue renting out another short-term rental property in East Nashville that doesn’t require him to live there to rent it out.
Other Domio employees who have been served with lawsuits over fraudulent permits for homes owned in their name include data scientist Hengyi “Harry” Zhu, revenue manager Juan Miguel Rivera Pecunia and marketing director Umer Usman.[15][16]
Services[edit]
Domio offers apartment hotel accommodations to group travelers especially business people at sharing-economy prices.[17][18][19]
In early 2019, the company opened its first location in New Orleans, in a venture with investment firm Upper90. As of May 2019, the company was in negotiations to open an additional 15 apartment hotels.[20]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 Menze, Jill (19 November 2018). STARTUP STAGE: Domio is targeting group travel with tech-forward apartment-hotels. PhocusWire.
- ↑ Moore, Clayton (8 October 2018). "Domio aims to dethrone Airbnb with new group travel accommodations". digitaltrends.com. Retrieved 24 January 2019.
- ↑ Nitkin, Alex (26 October 2018). "Domio acquires Reserve Rentals, bringing "apartment hotels" to Chicago". therealdeal.com. Retrieved 24 January 2019.
- ↑ "This NYC Startup is the New Name in Short Term Rentals". alleywatch.com. Retrieved 24 January 2019.
- ↑ "RETAIL Tapping Into The Group Travel Market With Apart-Hotels". pymnts.com. 31 October 2018. Retrieved 24 January 2019.
- ↑ Putzier, Konrad (20 November 2018). This debt startup wants to take on real estate VCs. The Real Deal.
- ↑ The 2019 30 Under 30. Forbes. 2019.
- ↑ "Domio Brings Total Funding to $67M with Latest Investment". bizjournals.com. 22 October 2018. Retrieved 24 January 2019.
- ↑ Loizos, Connie (19 October 2018). Domio raised $12 million in Series A funding to build ‘apart hotels’ across the US. TechCrunch.
- ↑ Hill, Jeremy (24 September 2018). "Upper90 in Group-Travel Joint Venture With Tech-Driven Domio". bloomberg.com. Retrieved 24 January 2019.
- ↑ Hill, Jeremy (24 September 2018). Upper90 in Group-Travel Joint Venture With Tech-Driven Domio. Bloomberg.
- ↑ Domio Encouraging Tech-Friendly Travel With ‘Apartment-Hotels’. Cheddar. 4 December 2018.
- ↑ Little, Corris (11 May 2018). "Why Are Travelers Open to Alternative Accommodations?". hotelbusiness.com. Retrieved 24 January 2019.
- ↑ Sullivan, Jack (2018-01-09). "Everyone knows Anthony in the North End – just not this one". CommonWealth Magazine. Retrieved 2019-09-23.
- ↑ Mazza, Sandy. "What is Domio, the short-term rental platform under fire in Nashville?". The Tennessean. Retrieved 2019-09-24.
- ↑ Mazza, Sandy (September 18, 2019). "Nashville says Domio, a short-term rental company, is operating illegially". The Tennessean. Archived from the original on 10 Nov 2019. Retrieved 2019-09-23. Unknown parameter
|url-status=ignored (help) - ↑ Wang, Jenna (30 September 2018). Why This 'Apart-Hotel' Startup Is Betting $50 Million On Group Travel. Forbes.
- ↑ Hedge Fund Jobs, Group Travel, Apple Marketing (Podcast)”. Bloomberg. 4 December 2018.
- ↑ Poczter, Sharon (3 April 2018). Move Over, Uber. Here Are the 2 Things Successful Sharing Economy Companies Are Doing Now. Inc..
- ↑ Putzier, Konrad (May 8, 2019). "Airbnb, Marriott Vie With Newcomers". The Wall Street Journal. Retrieved May 19, 2019.
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