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| BIRMINGHAM – This high school dropout sold Shipt to Target for $550M – his next startup could be worth double. As the way Americans live and work has changed, Landing offers its members (who pay $199 a year) fast access to move-in-ready apartments with the flexibility to rent for as little as one month. Cheaper than a hotel or a corporate apartment and more predictable than an Airbnb, Landing markets itself to Millennials with the flexibility to work remotely, as well as to others (traveling nurses, empty nesters, those new to a city) who don’t want the hassle of figuring out housing and buying furniture for a temporary stay. The bulk of Landing’s $200 million revenue (2022, projected) comes from its markup, typically 30% to 40% over what it pays to lease apartments from owners of multifamily buildings, including mega-landlords American Landmark and Northwood Ravin. It operates in 81 markets across the country, but its biggest are fast-growing Sun Belt cities like Las Vegas, Phoenix, Austin, Atlanta, Nashville and Tampa.(Amy Feldman, Forbes) |
