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“Quality rental choose Ziroom” |
| Founded: 2011 in Beijing, China
Category: Real estate & rental services Primary office: Beijing, China Core technical team: Beijing, China Status: Private Employees: over 10,000 Amount raised: $2.1 billion (4 rounds – 2020) |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
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Sells
- Rental services
- Ziroom Youjia: Long-term flat share to young professionals with limited budget
- Ziroom Zhengzu: Long-term entire house rental to young professionals with good budget
- Ziroom Lvju: Short-term bed and breakfast for travelers
- Ziroom Yu: single high-quality youth apartment for Generation Z
- Additional Services
- Ziroom moving services
- Ziroom cleaning services
- Ziroom home maintenance services
- Ziroom U Pin: Sell furniture and household items to users
Channels
- Mobile app and website (with user-friendly interfaces)
- Service marketing: provide quality service to enhance customer satisfaction and increase loyalty
- Organize interactive social activities to attract new users and enhance company/customer interactions (e.g., night running club, cycling club…)
- Social media marketing (e.g., Weibo and Wechat)
- New user first month rent free
- Targeted advertisements
- “Haiyan Plan”, which provides special support for new university graduates with their rental payments and avoiding deposit
Competencies
- Deep understanding of targeted users (white-collar workers and Generation Z in big Chinese cities)
- Community building and inventing a new rental market pattern using online-to-offline model
- Data modelling, artificial intelligence
- Software research and development build an online rental service platform covering all aspects of renting
- Development of technologies for controlling apartment smart devices using an App
Resources
Assets
- Powerful stakeholder – Lianjia
- Created largest online-to-offline youth community in China
- Quality rental housing resources and professional staff to provide services (all properties are professionally designed, fashionably decorated, brand appliances, ensuring the quality and comfort of the house; provide tenant insurance, double week cleaning service, professional maintenance, and moving services)
- Strategic partnerships (e.g., JD.com to launch Ziroom Baitiao; real estate developers for housing resources and shared customer base; home appliance suppliers and furniture suppliers; China Quality Certification Center to promote the establishment of industry standards; and China Foreign Economy and Trade Trust Co., Ltd. to issue asset-backed securities)
- Highly educated, high income clients living in big cities with quality of life requirements
Processes
- Houses and apartments are sourced from their owners, renovated using standardized template, and then rented out at above-market prices
- Ziroom Yu apartments are directly sourced from real estate developers, with common areas including gyms, game rooms, cafes, restaurants
- Additional services provided over-and-above straight renting (e.g., moving services)
- Processes to ensure and improve the professionalism of employees and to better serve customers
- Processes to build communities
- 3-day full refund option for dissatisfied tenants
Priorities
- Customer first with a focus on the good interaction between customers and the company
- Innovation of products and services
- Diversification of product and service offerings
- Increase number of partnerships
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Increase demand by using scientific and technological advances to develop innovative products and services
- Increase demand of products and services by combining two or more resources in a way that the value created from them exceeds the sum of the value created from each resource separately
- Increase sales by offering a variety of products and services to each market
- Advance product designs and high-quality customer services to increase demand
- Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
