Roomi Acquires The Room Ring to Consolidate the Shared Housing Market in the United States

NEW YORK–(BUSINESS WIRE^[1])–Roomi^[2],
a peer-to-peer mobile-first platform transforming the rental and shared
housing industry, announced today the acquisition of New York-based
housemate finder company, The
Room Ring^[3].

The Room Ring was founded in 2015 as a mobile platform for finding
roommates and room rentals. With a focus on finding compatibility
between roommates and integrating into user’s social networks, The Room
Ring continues to add enthusiastic users to its growing community.

The acquisition follows Roomi’s own rapid growth since its launch two
years ago, during which time Roomi has grown its user base to over
750,000 users while expanding its services across 18 major cities. This
is the most recent acquisition following the acquisition of Room.me in
the Summer of 2016.

“Young people are looking to rent over buy now more than ever,” said
Ajay Yadav, CEO of Roomi. “Whether they are forced to because of student
loans and the high cost of living or they are embracing the nomadic
lifestyle, millennials need access to flexible, immediate, verified
shared housing options. The Room Ring agrees that these trends are not
going away anytime soon, and we are happy that our visions are so
closely aligned. For these reasons an acquisition made a lot of sense,
especially since their focus was also on NYC!””

The Room Ring users will be transitioned to the Roomi platform
immediately, adding additional new users in New York and other cities in
the US. The Room Ring’s user base will benefit from stronger
infrastructure and development support going forward.

“Roomi has established itself as the clear leader in the shared housing
space,” said Lia Wayman, CEO of The Room Ring. “This acquisition
provides The Room Ring’s users with access to a significantly larger
network of roommates across more geographies. Once we had the chance to
discuss our similar visions for the future of the rental industry, it
was a no-brainer to add our efforts to Roomi’s.”

About Roomi

Roomi^[4]
is a free mobile app and web experience that simplifies the housemate
and housing search in major cities, where it’s often unaffordable to
live alone. The shared living platform makes it easy for people to post
and list rooms and connect safely, reinventing the way people search and
find housemates in the rental industry. CEO and Founder, Ajay Yadav,
developed Roomi after witnessing the need for a platform that not only
helps people find housing, but also the right people to live with. With
Roomi’s personality and compatibility checks, users can take their
search to the next level – finding a home, not just a housemate. Roomi is
available in New York City, San Francisco, Los Angeles, Chicago, San
Diego, Houston, Dallas, Austin, Philadelphia, Boston, Washington D.C.,
Baltimore, Seattle, Miami, Orlando, Atlanta, Vancouver and Toronto, and
is expanding rapidly, both in the U.S. and internationally.