The partnership will see Spacer and Costockage leverage each other’s networks and operational and marketing resources to fast track entry into new markets, commencing with Asia and targeting Singapore, Hong Kong, and Tokyo as the first target cities.
The two companies have also indicated a potential co-investment in the future by drawing on shared investor networks.
According to Mike Rosenbaum, co-founder and CEO of Spacer, the self-storage market is expanding rapidly in Asia, driven in part by tech-savvy startups, high density living and economic growth, which is fuelling a booming middle class with high disposable income and household spending - all of which, contribute to an ever-increasing need for storage.
Costockage CEO Levy-Zaubermann said, “The partnership is not only great news for our business, but also our customers. Together, Spacer and Costockage offer a better solution to those looking to solve space dilemmas or make extra money by tapping into the many benefits of the sharing economy. We look forward to working with Mike and the team to build the world's dominant marketplace for space.”
According to Rosenbaum the partnership with Costockage comes off the back of a “strong six months for Spacer, recording an impressive 600% growth rate as it continues to disrupt the $754m self-storage market”.
He said since its launch in October 2015, Spacer has grown its membership base to over 5,000, with 750 active listings experiencing more than 15,000 site visits every month, and expects to have 1,500 active sites by June 2016.