Apartment List Doubles its Valuation with Recent Funding Round

December 27, 2020

Rental platform, Apartment List, has raised $50 million in a recent funding round, doubling its valuation to over $600 million, effectively beating predictions that 2020 would be a harsh year for the platform. In fact, real estate across all sectors has been resilient this past year. 

Founder and CEO John Kobs told Bloomberg:

“Our business is predicated on motion, and in 2020 we became profitable.

“Mobility stood out this year as more users on our platform looked to change their living situation.”

Kobs explained that even now, they are looking at a possible IPO in the very near future. Kobs said:

“Being public has always been a goal of mine, and there’s a lot of appetite from institutional investors to support a company like Apartment List.”

Leading the round was Janus Henderson 

Portfolio Manager for Janus Henderson, Denny Fish, further explained: 

“Apartment List’s unique value proposition — at the intersection of an industry we find attractive, a supportive macroeconomic backdrop and a huge market opportunity ahead — makes this a really unique and interesting investment for us.”

The new funding will go toward boosting sales and attracting more renters to its platform. The website already has 30 million registered users and over 5.5 million units available in its inventory. 

Apartment List is a Silicon Valley startup that launched in 2009. How the platform works is that it collects fees whenever a listed apartment is rented out. Apartment List has effectively helped 175,000 people in Texas find new rentals this year, alone.

December 27, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Hemnet Building With Logo Editado
​Hemnet Delivers Strong Q1 Results Amidst Product Innovation and Market Momentum​

Sweden's leading property portal, Hemnet, has reported impressive financial results for the first quarter of 2025, showcasing the robust growth...

Read More
Product Update 2025Apr25 1
Product and Services Roundup: Loopnet, Finn.no, REA Group, Rightmove, Housing.com, AtHome.jp

This week's Product Roundup is flush with some of the biggest names in global real estate. We'll start in Europe,...

Read More
Offerpad Opendoor Stock 2
American iBuyers Opendoor and Offerpad Both Face Delisting From Stock Exchange

U.S.-based iBuying firm Offerpad has received a notice from the New York Stock Exchange regarding non-compliance with continued listing standards....

Read More
Untitled Design 9 3
Zillow Begins Rolling Back its Two-Tab Search Experience

Zillow has begun rolling out a major update to its search experience, moving away from a rule it once implemented...

Read More

Editor's Pick