Skift Take
Growing numbers of remote workers and soaring travel and accommodation costs represent favorable conditions for house exchange platforms to thrive in, but are people ready to trust strangers during a time when confidence is low?
Home swapping platforms see an opportunity to cash in on the fast-growing flexible work trend and and the appetite for more “authentic” experiences.
And the fact they offer free, or at least more affordable, stays during a post-pandemic travel boom that's seeing flights, hotels and vacation rental costs soar is another favorable condition. But the challenge for the house exchange sector, once associated with classified ads and listings websites, will be to win guests’ trust.
A handful of well-known investors see the potential in one new network, with venture capital firm Andreessen Horowitz leading a $7.75 million funding round for a platform called Kindred in April this year.
Co-founders Justine Palefsky and Tasneem Amina previously worked at property technology company Opendoor, and in the round tapped former colleagues, Eric Wu, co-founder and CEO, and Rohan Seth — who co-founded audio platform ClubHouse. Elad Gil, who previously invested in Airbnb, also took part.
The concept with these platforms is you pay an annual subscription, and need to have an approved home yourself. You agree to swap with another home, and any cleaning fees. Kindred, for example, charges $300 a year, and a service fee can be around $30 per night service. However some platforms, such as Inte
