HundredRooms says its profitable and hiring
17 Oct 2017
Spanish vacation rental aggregator HundredRooms.com denied newspaper reports that it is in a financial crisis. It released a statement late today, saying it is profitable in all its markets and is hiring new staff.
The company statement is a vigorous denial of an El Confidencial report alleging HundredRooms had laid off half its staff and is on the verge of running out of cash.
It “unequivocally” rejected the claims and insinuations in the article, namely that HundredRooms had burned through some €11 million ($12.9 million U.S.) of investment funding.
The statement, which the AIM Group received from HundredRooms COO Jorge Cuneo Fokkelman, said the only “objective and certain” fact in the El Confidencial story was that HundredRooms is restructuring its team. According to the statement, there were various reasons for this, including “strategy/optimization, letting individuals go who did not meet company expectations, and [letting go] volunteers”.
It added that the company is still hiring and it currently has eight vacancies. Start-up hub AngelList lists seven job openings at HundredRooms: one backend developer and six region-specific marketing assistant roles.
HundredRooms further stated it is profitable in each of the markets in which it operates — Spain, France, Germany, the U.K., Mexico and Italy — and “is near to achieving global profitability”.
The key claim in El Confidencial’s report was that HundredRooms had lost the confidence of its investors, including major Spanish players Seaya Ventures, Mediaset, and Media Digital Ventures. In its response, HundredRooms said its investors “unequivocally deny” holding the critical views ascribed to them by the article. And that they had not been contacted by the article’s author, or anyone from El Confidencial, and were “indignant” at having been represented as sources of inaccurate information.
HundredRooms did not respond to the claim it had left its Madrid headquarters and is operating solely out of Palma de Mallorca.
Recently lauded as one of Spain’s top start-ups, HundredRooms has, thus far, given every impression of being successful.