Tuesday, June 14, 2022
HomeVenture CapitalInvesting in Bounce | Andreessen Horowitz

Investing in Bounce | Andreessen Horowitz

I’m excited to announce that a16z is main the Collection A for Bounce, a market for shoppers to entry underutilized house in native companies.

Bounce permits shoppers to ebook short-term baggage storage and package deal retrieval at native companies–with extra providers coming quickly! As we speak, greater than 7,000 companies use the Bounce community to make additional income and improve foot site visitors. And hundreds of shoppers use Bounce day-after-day to dwell a extra versatile life.

Bounce is an organization that was virtually killed by the pandemic, with income falling to zero in a single day in March 2020 as small companies closed and shoppers stopped touring. The group went into survival mode for greater than a 12 months and shifted gears to give attention to constructing the community. The dedication to this long-term, strategic objective meant they had been prepared when the world opened again up. Bookings grew virtually 40x in 2021.

The necessity for Bounce is stronger than ever post-pandemic. Native companies perceive the significance of diversifying their income streams. Companies on Bounce vary from bike rental outlets, to gyms, to resorts and extra. Bounce brings free income to their door – first via the unique reserving, after which via the elevated foot site visitors. It’s seamless for these companies to simply accept and handle Bounce bookings, with insurance coverage and customer support taken care of by Bounce.

For the reason that begin of COVID, the corporate has generated greater than $1 million in income for small companies–they usually simply launched the BounceBack program to place $3 million extra into the fingers of small companies by the tip of summer season 2022. (In case you’re a small enterprise – take a look at what you possibly can earn via Bounce right here.)

On the shopper facet, the worth proposition is simply as robust. Journey has begun to rebound, with far more progress to come back: some predict that summer season 2022 may very well be the busiest journey season on file! Bounce’s baggage storage product serves vacationers who need to squeeze in an additional day of sightseeing, however possibly haven’t been capable of test into their lodge or Airbnb but, or need to discover a metropolis for a number of hours whereas on the way in which to their ultimate vacation spot.

Bounce additionally uniquely serves “digital nomads”, a cohort that exploded throughout COVID–climbing from an estimated 7 million in 2019 to fifteen million by the tip of 2021. Why get caught in a long-term lease when you possibly can work from anyplace? Bounce’s imaginative and prescient of “cloud storage for the bodily world” aligns completely with this new shopper conduct, and the corporate has grow to be a key a part of the infrastructure to allow many vacationers’ journeys – whether or not it’s for package deal or baggage storage.

Bounce founder Cody Candee is the right individual to construct this firm. After leaving Intuit in 2015, Cody traveled the world for 2 years chasing private initiatives, visiting greater than 60 international locations and relocating dozens of instances with only a few suitcases. He noticed firsthand the liberty Bounce can afford vacationers and people, and the potential for retailer homeowners all over the place.

With Bounce areas in over 1,000 cities together with cities like New York, London, Lisbon, and Paris, Bounce is without doubt one of the largest (if not the largest) world community of its sort. With this spherical, the corporate will develop to extra markets, construct extra instruments to serve Bounce companies even higher, and provide extra providers to shoppers.

Welcome Cody and group to the a16z portfolio!


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