Launch of the “Airbnb of storage” Neighbor service in Dallas

Neighbor is kicking off in Dallas on Thursday with a dedicated staff, as it aims to convince you to store your stuff in one of your neighbors’ homes rather than one of the metro area’s many warehouses.

The service was born as an idea to help people monetize the “value that has just been locked in people’s homes,” said Joseph Woodbury, CEO and co-founder of Neighbor.

Neighbor offers affordable peer-to-peer self-service storage locations in user neighborhoods through its dedicated website and app. Hosts can sign up to rent additional space in their home that they’re not using – a driveway, barn, guest room, and even closets – and set their own rental prices.

For those looking to rent storage space, Neighbor offers prices at roughly half the cost of traditional storage companies.

A quick search of storage units around Dallas shows options for renting a 5×5 square foot unit for almost $ 40 per month. Neighbor advertise that users can find the same space closer to their homes for $ 20 per month on average.

“With Neighbor, people literally store up with their neighbors,” said Woodbury. “It really helps build communities because people make connections that they didn’t have before. “

Neighbor also provides insurance for tenants and hosts on its platform. Hosts receive a $ 1 million liability warranty and tenants receive a $ 25,000 warranty on stored items.

The startup began in the Silicon Slopes area of ​​Utah in 2017 and launched in Los Angeles two years later. Dallas is the first city outside of these two regions to see dedicated corporate resources.

“Texas spends about $ 5 billion a year on storage and Dallas is, of course, Texas’ largest market,” Woodbury said.

On top of that, Woodbury said Dallas is “just a friendly place”. This is important because the viability of the business depends on the willingness of the users to do business with the person down the street.

Neighbor hired a community manager to lead efforts on the ground, such as onboarding new hosts and cutting edge marketing.

The company’s expansion was fueled by a recent $ 10 million funding round led by venture capital firm Andreessen Horowitz. He also doubled his board of directors of former and current board members of Uber and Airbnb.

“It’s really kind of a validation of our efforts so far,” said Woodbury.

The new renovated offices of Helion Technologies in Garland.  Forty employees have already moved in and the company is looking to triple its workforce in the coming years.

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