'Uber Meets Airbnb'—This Homesharing Startup Just Raised $2.5M
Overnight, a homesharing app built for last-minute bookings, just announced the close of a $2.5M seed round led by venture capital firms Accomplice and CrossCut Ventures.
One of the participants in the funding round? None other than Bisnow Media co-founder Elliott Bisnow (pictured). Elliott says that Overnight is the next evolution in the sharing economy, as hotels and platforms like Airbnb aren't set up for last-minute travelers.
Users simply drop a pin on the app's map in the area where they want to stay the night, and then are able to check out listings available. "We’re in this on-demand world," Elliott tells us exclusively. "People don’t make reservations and plans anymore."
By not showing guests spaces until their request has been approved—and only showing pads available immediately—Overnight streamlines the booking process a bit. "It's more like Uber meets Airbnb," Elliott tells us.
The company says it takes a lower commission from hosts than Airbnb, and plans to launch in LA with their seed money—with further plans to launch in Austin, just before SXSW. (Impeccable timing.)