The online marketplace helping students find reliable, short-term accommodation
Founders: Nitzan Yudan and Tomer Kalish
Founded: June 2010 (launched November 2010)
Despite university students and alumni increasingly inhabiting a transient world in which they pursue internships, exchanges, relocation, projects and travel, the accommodation solution was lacking. Coupled with a need for additional income, London Business School MBAs Nitzan Yudan and Tomer Kalish, both 33, hit upon their idea for Flat-Club, a marketplace that leverages social networks to find spare rooms and flats at up to 80% cheaper than hotels for the alumni and students of top universities.
The London-based company is generating good – but undisclosed – income from its commission charged on top of each transaction (a figure that depends on the length of stay). Flat-Club beat 650 global start-ups to the title of TechCrunch’s 2012 Pitching Challenge and the founders, who have successful careers in tourism, IT, finance and real estate between them, hope to replicate the model in major cities throughout the world.