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Help Millennials Thrive in Cities with Co-Living Communities

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500 Startups

The document discusses a company called OpenDoor that helps address the issue of millennials being unable to afford living in cities by themselves. OpenDoor builds community for people by managing roommate rentals, generating $50k in monthly recurring revenue from 3 properties and having plans to scale further by partnering with developers to manage bedrooms in apartment buildings. The company aims to operate efficiently with zero vacancy loss, low monthly user churn, and 100% referral rates.

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Live Better Together. founders@opendoor.io angel.co/opendoor-2
$50k MRR 3 properties founders@opendoor.io angel.co/opendoor-2
88% Millennials are flocking to cities but can’t afford it. live with roommates founders@opendoor.io angel.co/opendoor-2
US roommate rentals $105B founders@opendoor.io angel.co/opendoor-2
Traditional OpenDoor founders@opendoor.io angel.co/opendoor-2
People crave community. We build it. founders@opendoor.io angel.co/opendoor-2
Recurring fee on rents 15% gross margin $200/mo margin per resident = founders@opendoor.io angel.co/opendoor-2
ZERO 2% Vacancy Loss Monthly Churn 100% Referral Rate Operating Efficiently founders@opendoor.io angel.co/opendoor-2
Scaling via Developers SIX $170k 50-100 MRR in signed deals developer partnerships bedrooms per building founders@opendoor.io angel.co/opendoor-2
We live it. Ben Provan COO Jay Standish CEO founders@opendoor.io angel.co/opendoor-2
$50k MRR 140 pipeline bedrooms $105B market founders@opendoor.io angel.co/opendoor-2

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