Furnished apartment rental provider Blueground has acquired global monthly housing platform Nestpick and launched a network of apartment providers called the Partner Network, the company announced Tuesday.
Financial terms of the acquisition were undisclosed; both companies are privately held. Blueground in a statement said Nestpick’s digital platform generated $80 million in gross booking value in 2022.
Blueground’s acquisition of Nestpick preceded the launch of its invitation-only Partner Network, available now, which consists of vetted third-party furnished apartment providers and their portfolio of units, the company said. Blueground will utilize Nestpick’s “tech, integration infrastructure and expertise as a global platform to establish its Partner Network and grow Blueground’s business beyond its core network of managed properties,” the company said.
There is no fee for the Partner Network on the consumer side and the search experience “won’t be any different for customers,” a company spokesperson told BTN by email. Search displays will include listing details, such as which partner manages the listing, the spokesperson said.
Blueground’s Partner Network this year will bring 18,000 units to the company’s existing global apartment network, with plans to add 50,000 units in 2024, according to the company.
“Blueground is inviting and hand-selecting partners in the furnished rental space that fit our criteria,” such as Placemakr and Kasa, the company spokesperson said, adding that the company offers “attractive commissions.” Partners will also gain access to Blueground operations, including in-house marketing and photography, cleaning services, on-the-ground operations teams, customer service, background checks and insurance, the company said.
Nestpick will continue to operate as an independent platform, while current CEO Omer Kucukdere will become Blueground’s VP of the Partner Network. Nestpick’s connections include nearly 40,000 listings globally and 120 professional operators within the extended-stay sector.
This acquisition marks Blueground’s third in the last year, including furnished rental company Travelers Havenand Brazil-based startup Tabas.
