Coliving platform is featured on the Inc. 5000 for the third straight year
ATLANTA, Aug. 13, 2024 /PRNewswire-PRWeb/ -- PadSplit, the country's largest co-living marketplace designed for the workforce, is being recognized for the third straight year as one of the fastest-growing private companies in the United States. With its return to the prestigious Inc. 5000 list, PadSplit ranks no. 1,162 overall on the 2024 list, with an impressive revenue growth of 440 percent. Among other real estate companies, PadSplit ranks as the 24th fastest-growing in the country. It comes in at no. 56 for Georgia-based companies.
"It's challenging for any company to achieve consistent year-over-year growth, especially a social impact startup like PadSplit," said Founder and CEO Atticus LeBlanc. "Being on this list three years in a row proves it's possible to do well and good. We're certainly proud of our growth, but more importantly, we're inspired by countless stories from our members about the life-changing impacts PadSplit has helped them realize."
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. In all, this year's Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
This recognition adds to the string of awards PadSplit has won for its innovation, social impact, and organizational culture. Earlier this year, PadSplit was named one of Atlanta Business Chronicle's Best in Real Estate honorees. Additionally, Inc. Magazine named the company to its Best of Business list, and the Atlanta Business Chronicle named CEO Atticus LeBlanc one of its Corporate Citizens of the Year. PadSplit has also been honored as a Proptech Breakthrough platform of the year, and one of the Atlanta Journal-Constitution's Top Workplaces.
PadSplit was founded in 2017 by LeBlanc as a way to align incentives between property owners, cities, and individuals who seek affordable housing. Today, the company offers more than 13,000 affordable housing units in 18 cities and has housed more than 30,000 people through its marketplace. Each shared home, or "PadSplit," includes private, furnished, lockable bedrooms and fixed utility costs, as well as access to 24/7 telehealth, credit monitoring, and job matching services. No minimum credit score or security deposit is required, and PadSplit offers flexible commitment terms, all designed to reduce barriers to entry and maximize flexibility. The median annual income for PadSplit members is $27,636.
On average, PadSplit rooms cost 40-50 percent less than traditional apartments, enabling individuals to save hundreds per month between housing, utility, and transportation costs. At the same time, PadSplits typically increase yield by more than 2X for property owners, which spurs them to create a more cost-effective housing supply. All of this occurs without any direct public subsidy.
PadSplit is structured as a public benefit corporation. For more information, visit padsplit.com.
About PadSplit
PadSplit is the country's largest coliving marketplace that provides housing specifically designed for the workforce. As a public benefit corporation, PadSplit is intentional about doing well and doing good, so its focus is on increasing the housing supply and decreasing barriers to access. Their award-winning model allows individuals to find a flexible, long-term rental option that includes furniture, utilities, and access to public transit, all without a minimum credit score. PadSplit's technology platform enables personalized rent payments that facilitate easier budgeting and allow residents to improve their financial health. A fully remote company, PadSplit offers more than 13,000 shared housing rooms nationwide. Apply to become a resident or a property owner at PadSplit.com.
Media Contact
Hela Sheth, PadSplit, 1 678-938-1318, [email protected], padsplit.com
SOURCE PadSplit
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