Spacer.com.au Pty. Ltd., an Australia-based peer-to-peer self-storage marketplace, has partnered with Paris-based peer-to-peer storage business Costockage to jointly expand service to Asia. The companies will leverage each other’s networks as well as operational and marketing resources. The businesses indicated other international markets and a potential co-investment in shared investor networks could be explored in the future, according to a press release. The companies targeted Asia due to the growth in the self-storage market fueled by an increase of disposable income among the middle class, the release stated.
“From day one, international expansion has always been part of Spacer’s growth strategy, especially into the lucrative Asian self-storage market, which is ripe for disruption,” said Mike Rosenbaum, co-founder and CEO of Spacer. “Our partnership with Costockage facilitates this by allowing us to draw on each other’s market knowledge, resources and experience to launch into new markets. Together, our goal is to build the world’s dominant peer-to-peer marketplace for space.”
“Asia holds unlimited potential, with space in major cities like Shanghai, Tokyo and Hong Kong a luxury that many don’t have, with conveniently located quality self-storage facilities in short supply,” added Adam Levy-Zauberman, CEO of Costockage. “We look forward to working with Spacer to expand into this market and explore together other growth opportunities for both businesses.”
Since its launch last October, Spacer has amassed a membership base of more than 5,000, with 750 active listings receiving more than 15,000 site visits each month, the release stated. The company expects to have 1,500 active storage sites by June.
In addition to international expansion, Spacer is examining other types of shared-space services to add to its platform. “Office co-sharing, commercial-space sharing and warehousing present a huge opportunity to expand our offerings and increase the types of real estate we have listed on our platform,” Rosenbaum said. “Our goal is to empower everybody to earn a secondary income from their unused space, whether this is a commercial property or a shed in the suburbs.”
Costockage launched in 2013 and provides more than 5,000 listings and 600,000 cubic meters of storage space in France.
Spacer enables people in need of storage to find available space in their local area from businesses and homeowners. All rental payments are made through Spacer, which collects a 15 percent commission. The company raised $1.2 million from angel and private investors in October 2015.
