Startup Expands to DC to Fill Space Void
Kinglet, which helps people find office space, is expanding to the DC region in March. Co-founder Alex Kopicki says the marketplace, which launched in Baltimore last September, connects suppliers of small, furnished office space with emerging companies ready to move on from co-working space but not ready for long-term leases. (Can we coin the term "Goldilocks companies"?) It can range from a single desk to a small office. The suppliers set the price, list the space for free, and Kinglet adds a 10% service fee.
Kinglet, which raised $500k in angel funding in early December, has over 300 available spaces in the Baltimore metro area and has attracted clients like COPT and Cordish, as well as companies leasing too much space. Alex, who has a real estate background, says he hopes to have 200 to 300 DC metro spaces by March and expects to see demand from emerging companies of five to 25 people. Kinglet also has plans to expand to Philadelphia in Q3 and then NYC by the end of the year.