October 20, 2020 Breaking News, Latest News, and Videos

Santa Monica-Based RadPad Raises $2M In Capital After Declining Acquisition Offers:

Santa Monica-based RadPad, a mobile rental marketplace in Los Angeles, has announced an additional $2 million in capital through new and existing investors, after rejecting two recent acquisition offers.

Jonathan Eppers, co-founder and CEO of RadPad, said it was “humbling to be in a position so early on where not only do two very respected companies want to buy you, but come to the table with such strong offers.”

“As a team, we’re just beginning to build the features that we’ve been thinking about since we started RadPad,” Eppers said. “We weren’t thinking about raising money this summer, but the acquisition offers presented us an opportunity to take in more capital very quickly at a value we felt was very fair. Ultimately this gives us a lot more runway and time to release major new features with the goal of becoming a one-stop shop for renters.”

RadPad’s latest round of funding was led by SG VC, L.P., with participation from existing investors Social Leverage L.P. and Michael Huffington.

New investors include Queensbridge Venture Partners (led by Nasir “Nas” Jones and Anthony Saleh) and Happy Walters (co-president of Relativity Media).

RadPad plans to use the new financing – which brings the total amount raised to $3.5 million – to support the development of new features and several key new hires in technology and operations.

Since the company’s launch in 2013, RadPad has grown to become the largest rental service in Los Angeles.

More than 63,000 renters every week choose to use RadPad to find their new apartment or home among the more than 600,000 rental listings on RadPad.

After dominating the Los Angeles rental market, RadPad has since formally introduced its services to several major metropolitan cities, including Chicago and Washington, D.C., although it is accessible across all cities in the US.

For more information, visit www.onradpad.com.

in News
Related Posts

Grand Jury Indicts Former Angel Employee in Tyler Skaggs’ Fatal Overdose

October 19, 2020

October 19, 2020

Fort Wayne grand jury indicts Eric Prescott Kay on drug distribution and drug conspiracy charges By Sam Catanzaro A federal...

YogaWorks Studios Closing Amid Pandemic: Santa Monica Beat – October, 19, 2020

October 19, 2020

October 19, 2020

Local news and culture in under 5 minutes. * YogaWorks Studios Closing Amid Pandemic * Carjacking Suspects in Custody All...

Edify TV: More Bike Lanes for Westside

October 19, 2020

October 19, 2020

A Westside city is adding more miles of protected bike lanes. Learn more in this video made possible by Santa...

Outgoing Santa Monica Police Chief Set to Receive Nearly $100K of Severance Pay

October 19, 2020

October 19, 2020

Santa Monica City Council approves retirement agreement for outgoing chief Cynthia Renaud By Sam Catanzaro Santa Monica’s outgoing police chief...

Intravenous Vitamin Therapy: A Natural, Effective Solution for the Flu

October 19, 2020

October 19, 2020

By Dr. Mahboubeh Hashemi, ND and Dr. Matthew Cavaiola, ND  As fall and winter are fast approaching, many people, and...

Edify TV: Deal to House Homeless People Near Freeways

October 18, 2020

October 18, 2020

After months of negotiations, the City and County of LA reached a $300 million deal to house thousands of homeless...

Santa Monica’s Police Chief Retiring

October 16, 2020

October 16, 2020

SMPD Cynthia Renaud announces retirement, to be replaced by former Chief Jacqueline Seabrooks By Sam Catanzaro Santa Monica has announced...

Virtual Staging Changing The Way We Sell Property?

October 16, 2020

October 16, 2020

Today on Westside Cribz, Chuck Lorre buys his neighbors home, Rage Against the Machine drummer Brad Wilk selling his Santa...

O.C. Man Faces Federal Charges for Allegedly Setting SMPD Car on Fire

October 16, 2020

October 16, 2020

Nathan Wilson, 27, faces up to 20 years in prison An Irvine man was taken into federal custody this week...

Santa Monica Spa Owner Admits Price Gouging in Sale of Scarce N95 Masks

October 15, 2020

October 15, 2020

Niki Schwarz, owner of Tikkun Holistic Spa, pleads guilty to federal charges A Santa Monica day spa owner was charged...

Council Challenger Earns Endorsement After Coming Out Against Controversial Project: Santa Monica Beat – October, 15, 2020

October 15, 2020

October 15, 2020

Local news and culture in under 5 minutes. * Council Challenger Earns Endorsement After Coming Out Against Controversial Project *...

Edify TV: Penmar Golf Homeless Encampment Update

October 15, 2020

October 15, 2020

The City of Los Angeles has taken new action in an effort to deal with a homeless encampment along Penmar...

French Restaurant Reopens in Santa Monica After a Decade

October 15, 2020

October 15, 2020

Le Petit Chez Mimi now open on Colorado Avenue in Santa Monica By Kerry Slater A restaurant that was located...