Dublin startup ReAlpha plans to buy up to 15,000 Airbnb rentals

A Dublin startup plans to buy up to $ 1.5 billion in homes with the aim of becoming the country’s largest short-term rental property owner.

The company, called ReAlpha, seeks to reinvent the industry by allowing individual investors to own shares of specific properties that would be leased through Airbnb. ReAlpha hopes to purchase at least 15,000 Airbnb homes within five years, starting in the United States but eventually expanding across the world.

“Over the next few years, we hope to be the largest owner of Airbnb properties,” said Giri Devanur, CEO of ReAlpha. “There are 660,000 US properties on Airbnb. There is no clear leader.”

The company said it was raising $ 75 million privately for the company by selling 7.5 million shares at $ 10 each. The biggest initial investor is Dublin-based development firm Crawford Hoying, which has committed $ 6 million to the project.

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