Company Hits Major Milestone, Offering the Most Listings in Los Angeles; Raises Additional $1 Million


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[IN] RRL RLT MLM CPR

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-- WITH PHOTO -- TO BUSINESS EDITORS:

Los Angeles Renters Choose RadPad as Preferred Rental App; Company

Raises Additional Capital

LOS ANGELES, March 18, 2014 /PRNewswire/ -- The residents of Los

Angeles have spoken! RadPad, the Craigslist meets Instagram rental

marketplace app, today announced that it now has the most listings in

the second largest rental market in the country, Los Angeles. The

company has also reached a milestone among its audience, claiming 40

percent of Los Angeles millenials using RadPad to find their next

apartment.

Photo - http://photos.prnewswire.com/prnh/20140318/PH85154LOGO

In 14 months, RadPad has taken a large part of the rental market share

because of its focus on building the best mobile experience based

around full screen photos (at least three per listing), a touch and

swipe search interface and offering a text messaging feature to

quickly facilitate communication between both renters and property

owners.

In addition, the Venice-based startup recently closed an additional $1

million in capital through new and existing investors: Deep Fork

Capital, Post Investments, Michael Huffington, and Brian Lee (BAM

Ventures & Honest Co.), among other private investors.

"I started RadPad because I was having a difficult time finding an

apartment and became really frustrated due to a lack of great photos,

a lot of scams and difficulty communicating with property owners,"

says Jonathan Eppers, CEO, RadPad. "It's been humbling to watch RadPad

grow so fast in our hometown of Los Angeles. I believe our hyper-focus

on mobile, photos, transparency and breaking down all the friction

renters hate about the process of renting has really contributed to

why renters dig RadPad."

The rental industry is both complex and competitive. RadPad leverages

backend analytics to understand the needs of renters and property

owners. Here are just a few facts about the Los Angeles marketplace:

-- In Los Angeles, RadPad offers the most new listings in Beverly

Hills, Brentwood, Burbank, Culver City, Downtown Los Angeles, Encino,

Glendale, Hollywood, Los Feliz, North Hollywood, Pasadena, Silverlake,

Studio City, West Hollywood, and Westwood.

-- 62 percent of residents in Los Angeles are renters (the highest in

the entire country)

-- On average, there are 110,000 active renters in Los Angeles per

month

-- Most demanded rentals in LA are 1 bedrooms, priced at $2,000 a

month or less

-- Hottest neighborhoods are: Hollywood, West Hollywood and Silverlake

-- RadPad's audience: 20 percent or 1 in 5 renters in Los Angeles use

RadPad to find their next "rad pad." 40 percent of all millenials (34

years old and younger) in Los Angeles are using RadPad to find their

rental 82 percent access RadPad through the iPhone app About

two-thirds of RadPad renters are female

Looking to find your new pad? To view the coolest apartments or houses

for rent in Los Angeles, visit http://onradpad.com

About RadPad

RadPad (http://www.onradpad.com/) is the first photo-based mobile

rental marketplace that makes it easy for property owners and renters

to list and find the coolest rentals around town. Since launching in

January 2013, RadPad has focused on serving the renters of Los

Angeles, which has helped the brand quickly grow to become the largest

mobile rental marketplace in Southern California. Not in Los Angeles?

Not a problem. RadPad has listings nationwide, with some of the most

popular cities being Austin (TX), Boston, Chicago, Denver, Dallas,

Houston, Orlando, Portland, San Diego, San Francisco, Seattle, and

Washington, D.C. Stay "social" with us by following our Facebook and

Twitter pages.

CONTACT: John Yoon Email 562-495-6045

Read more news from RadPad.

SOURCE RadPad

-0- 03/18/2014

/Photo: http://photos.prnewswire.com/prnh/20140318/PH85154LOGO

PRN Photo Desk, photodesk@prnewswire.com

/Web Site: http://www.onradpad.com

CO: RadPad

ST: California

IN: RRL RLT MLM CPR

PRN

-- PH85154 --

0000 03/18/2014 12:30:00 EDT http://www.prnewswire.com

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