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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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