Layoffs and an office auction sparked rumors that household rental startup Radpad was on its deathbed last yr. Following increasing more than $twelve million in funding, significant authorized costs from a “data scraping” lawsuit with Craigslist had place the LA-primarily based startup nearly out of enterprise. But TechCrunch has uncovered that RadPad has located by itself a new household. Dallas-primarily based LandLord Station has purchased them for an undisclosed cost. The RadPad web page will be saved substantially the identical and a several remaining workforce will be joining the new corporation. LandLord Station, which presents tenant screening, felt that RadPad complemented its enterprise. RadPad founder and CEO Jonathan Eppers will be stepping apart, but remaining on in an advisory role. Although he is relieved that another person wound up obtaining RadPad, he spoke to us about his frustration that RadPad didn’t get the end result he felt it deserved. “Craigslist had genuinely one particular purpose in mind and it was to place RadPad out of enterprise,” mentioned Eppers, who vehemently denies that his corporation scraped Craigslist for rental listings. He mentioned that there had been other possible consumers, but they “didn’t want to acquire RadPad beneath the settlement ailments that were agreed to.” Calling it “blackmail,” Eppers pointed to Craigslist’s litigious earlier and prompt that the corporation is striving to wield unfair lawsuits to damage scaled-down opponents. He mentioned that just before the drama with Craigslist, RadPad had about half a million energetic buyers seeking the web page for rental listings. They were also processing rent payments through the system and had to halt the provider, but LandLord Station intends to convey the aspect back by spring. The a few-yr-outdated startup had just $one.eight million in profits, but “we felt like we were on a route to profitability,” mentioned Eppers. They took a tiny fee on rental payments and had begun to acquire a percentage of profitable landlord listings. “This has been some of the most devastating six-eight months of my existence,” mentioned Eppers. It is a distressing reminder that even startups that increase tens of millions from VCs usually never perform out. Rapper Nas’ QueensBridge Enterprise Associates, SGVC and Altpoint Ventures were amongst the extensive checklist of investors. But LandLord Station is hoping that they will be equipped to employ back a several of the laid off RadPad workforce and continue on to grow its enterprise. “We believe that they had the design proper,” mentioned LandLord Station CEO Copley Broer. Extra reporting by John Mannes
Showcased Picture: TechCrunch
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Layoffs and an office auction sparked rumors that household rental startup Radpad was on its deathbed last yr. Following increasing more than $twelve million in funding, significant authorized costs from a “data scraping” lawsuit with Craigslist had place the LA-primarily based startup nearly out of enterprise. But TechCrunch has uncovered that RadPad has located by itself a new household. Dallas-primarily based LandLord Station has purchased them for an undisclosed cost. The RadPad web page will be saved substantially the identical and a several remaining workforce will be joining the new corporation. LandLord Station, which presents tenant screening, felt that RadPad complemented its enterprise. RadPad founder and CEO Jonathan Eppers will be stepping apart, but remaining on in an advisory role. Although he is relieved that another person wound up obtaining RadPad, he spoke to us about his frustration that RadPad didn’t get the end result he felt it deserved. “Craigslist had genuinely one particular purpose in mind and it was to place RadPad out of enterprise,” mentioned Eppers, who vehemently denies that his corporation scraped Craigslist for rental listings. He mentioned that there had been other possible consumers, but they “didn’t want to acquire RadPad beneath the settlement ailments that were agreed to.” Calling it “blackmail,” Eppers pointed to Craigslist’s litigious earlier and prompt that the corporation is striving to wield unfair lawsuits to damage scaled-down opponents. He mentioned that just before the drama with Craigslist, RadPad had about half a million energetic buyers seeking the web page for rental listings. They were also processing rent payments through the system and had to halt the provider, but LandLord Station intends to convey the aspect back by spring. The a few-yr-outdated startup had just $one.eight million in profits, but “we felt like we were on a route to profitability,” mentioned Eppers. They took a tiny fee on rental payments and had begun to acquire a percentage of profitable landlord listings. “This has been some of the most devastating six-eight months of my existence,” mentioned Eppers. It is a distressing reminder that even startups that increase tens of millions from VCs usually never perform out. Rapper Nas’ QueensBridge Enterprise Associates, SGVC and Altpoint Ventures were amongst the extensive checklist of investors. But LandLord Station is hoping that they will be equipped to employ back a several of the laid off RadPad workforce and continue on to grow its enterprise. “We believe that they had the design proper,” mentioned LandLord Station CEO Copley Broer. Extra reporting by John Mannes
Showcased Picture: TechCrunch
Layoffs and an office auction sparked rumors that household rental startup Radpad was on its deathbed last yr. Following increasing more than $twelve million in funding, significant authorized costs from a “data scraping” lawsuit with Craigslist had place the LA-primarily based startup nearly out of enterprise.
But TechCrunch has uncovered that RadPad has located by itself a new household. Dallas-primarily based LandLord Station has purchased them for an undisclosed cost.
The RadPad web page will be saved substantially the identical and a several remaining workforce will be joining the new corporation. LandLord Station, which presents tenant screening, felt that RadPad complemented its enterprise.
RadPad founder and CEO Jonathan Eppers will be stepping apart, but remaining on in an advisory role. Although he is relieved that another person wound up obtaining RadPad, he spoke to us about his frustration that RadPad didn’t get the end result he felt it deserved.
“Craigslist had genuinely one particular purpose in mind and it was to place RadPad out of enterprise,” mentioned Eppers, who vehemently denies that his corporation scraped Craigslist for rental listings. He mentioned that there had been other possible consumers, but they “didn’t want to acquire RadPad beneath the settlement ailments that were agreed to.” Calling it “blackmail,” Eppers pointed to Craigslist’s litigious earlier and prompt that the corporation is striving to wield unfair lawsuits to damage scaled-down opponents.
He mentioned that just before the drama with Craigslist, RadPad had about half a million energetic buyers seeking the web page for rental listings. They were also processing rent payments through the system and had to halt the provider, but LandLord Station intends to convey the aspect back by spring.
The a few-yr-outdated startup had just $one.eight million in profits, but “we felt like we were on a route to profitability,” mentioned Eppers. They took a tiny fee on rental payments and had begun to acquire a percentage of profitable landlord listings.
“This has been some of the most devastating six-eight months of my existence,” mentioned Eppers.
It is a distressing reminder that even startups that increase tens of millions from VCs usually never perform out. Rapper Nas’ QueensBridge Enterprise Associates, SGVC and Altpoint Ventures were amongst the extensive checklist of investors.
But LandLord Station is hoping that they will be equipped to employ back a several of the laid off RadPad workforce and continue on to grow its enterprise. “We believe that they had the design proper,” mentioned LandLord Station CEO Copley Broer.