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kommu
UCLA's Next Big Startup
Curtis Chou
April 17, 2024
The idea of Airbnb was absurd during their early stages but now they have a market cap of 99.92 billion. However, there hasn’t been much innovation in the rental market since then. The rental market is long overdue for innovation.
Which is why I’m excited to share kommu 🤠
kommu was co-founded by Bo Abrams, one of the most authentic and passionate people I’ve met in the entrepreneurial space. Big thank you to Bo for letting me share his company!
-Curtis
One Liner
kommu: Unlocking 140 million primary homes for sharing through trusted networks, transforming how we travel and connect.
Problem
The professionalization of Airbnb as a transactional marketplace has left its core users out to dry…
The pandemic unlocked demand of travel and sent short-term rental (STR) prices skyrocketing, all while most of Airbnb’s core users can’t host because they are renters or don’t want to host because they don’t want a stranger in their homes – they want strangers in their short-term rental platforms which are increasingly 2nd homes that people don’t actually live in.
Solution
A connected home-sharing and travel platform that links users with their personal network and empowers them to host trusted friends, interest groups, and communities in their home on their terms. Through kommu, users manage their home-sharing preferences, find affordable stays through those they know, and learn when friends are in the same city, fostering real-life connections during their trips.
Traction and Fundraising
In just a few months, kommu saw:
4,300+ downloads
1,500+ nights booked
470+ hosts
kommu is also in the process of closing out a Pre-Seed Round.
Differentiation / Market
Although similar to Airbnb, kommu differentiates themselves primarily by addressing the next generation of hospitality, capturing a market left on the table by Airbnb. kommu aims to capture millennial & Gen Z travelers that prefer cost-saving listings & bookings free from regulations imposed by Airbnb and other entities.
kommu’s target users are paying about $50 per year to list in top Facebook/WhatsApp travel groups in order to save $1k+ annually as hosts/guests, demonstrating the market’s willingness to pay for such as product.
Generations of Hospitality:
Model | Method | |
Gen 1 | Business to Stranger. | Hotels and Hostels. |
Gen 2 | Stranger to Stranger. | Airbnb, Craigslist/Facebook, Couchsurfing. |
Gen 3 | Trust-based Networks. | Renting through friends and trusted communities (kommu). |
Revenue Model
Free
list/book with direct connections
manage your home & availability
$199 annual subscription
access to 2nd-degree connections & groups
24/7 customer support
Background
We founded kommu not just as a business venture but as a solution to a problem we personally faced. As renters who were capable of working remotely even before the pandemic, our own travel desires were curtailed by the financial impracticalities of leaving our homes unlisted while away. This wasn't just a market gap; it was our dilemma. In seeking to solve our own issue, we uncovered a broader opportunity with the potential to rival Airbnb head-to-head.
This realization came against the backdrop of the COVID-19 pandemic, which has drastically altered the landscape of work and travel, making our personal challenge a widespread concern. With the pandemic fostering an environment of unlimited travel demand against a backdrop of limited supply, inflated prices, and inaccessible travel options for many, we saw the urgency for a platform like kommu. It's designed to empower renters in major cities and beyond, offering an affordable, community-driven travel and home-sharing alternative.
Our direct experience as part of the demographic affected by these shifts uniquely positions us to address these issues. We're not just building a platform; we're crafting a solution to a problem we've lived. Our diverse backgrounds in finance, venture capital, technology, and product management, combined with our firsthand understanding of the challenges facing remote-capable renters, drive us to innovate beyond the traditional models. Through kommu, we aim to unlock new possibilities for travel and home sharing, directly challenging the status quo set by incumbents like Airbnb.
