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ZeroDown

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ZeroDown
ISIN🆔
IndustryReal-estateTechnologyInternet
Founded 📆2018
Founder 👔Abhijeet Dwivedi, Hari Viswanathan, Laks Srini
Headquarters 🏙️,
San Francisco, California
,
USA
Area served 🗺️
San Francisco, San Mateo, Marin, Contra Costa, Santa Clara, Alameda
Key people
Abhijeet Dwivedi, CEO
Members
Number of employees
10
🌐 Websitewww.zerodown.com
📇 Address
📞 telephone

ZeroDown is a technology company based in San Francisco, California focused on providing homeownership solutions in the San Francisco Bay Area.[1][2][3] According to TechCrunch, ZeroDown is valued at $150 million as of 2019 after raising $30 million in total equity funding and $110 million in debt financing.[4]

ZeroDown is a graduate of the Y Combinator startup accelerator’s winter 2019 cohort.[5] Abhijeet Dwivedi is the current CEO of the company.

History[edit]

ZeroDown was founded in 2018 by Abhijeet Dwivedi, Hari Viswanathan, and Laks Srini. Abhijeet Dwivedi is the former chief operating officer of Zenefits; Laks Srini is Zenefits’ former chief technology officer and Hari Viswanathan is a former Zenefits staff engineer.[6]

The company has raised over $130M since inception as of 2019.[7][8], with its most recent funding amount being $100M in debt financing. This funding round was comprised of debt financing led by Credit Suisse.

The company currently has 10 employees that work out of their San Francisco office.

Products and Services[edit]

ZeroDown uses an algorithm to determine the buying power of a given customer. Based on this buying power calculation, ZeroDown shows previews of homes that best fit that customer’s profile. ZeroDown then buys the desired home, allows the customer to move in and pay as they go, building up credits they can use to purchase the home.[9]

Starting after year 2 and up to 5 years, a consumer can buy the home from ZeroDown using the credits they have built up.

References[edit]

  1. Lane, Ben (26 August 2019). "Real estate startup ZeroDown secures $100 million to buy San Francisco homes for its customers". Housing Wire.
  2. Geron, Tomio (22 September 2019). "Startups That Offer New Paths to Homeownership". WSJ.
  3. Kearns, Patrick (12 June 2019). "ZeroDown, a Bay Area startup, launches new rent-to-own service". inman.
  4. Clark, Kate (15 October 2019). "ZeroDown, valued at $150M, plans to take on Zillow". Techcrunch.
  5. Clark, Kate (21 March 2019). "To fund Y Combinator's top startups, VCs scoop them before Demo Day". Techcrunch.
  6. Clark, Kate (11 June 2019). "ZeroDown is constructing a new path to home ownership". Techcrunch.
  7. Dorbian, Iris (11 June 2019). "Real estate startup ZeroDown scores $30 mln". The PE Hub Network.
  8. "ZeroDown Crunchase Profile". Crunchbase. 11 June 2019.
  9. Budman, Scott (13 June 2019). "New Startup Makes Home-Buying in the Bay Easier". NBC Bay Area.


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