Tuesday, 26 April 2016 11:39

Spacer, Costockage partner to tackle Asia self-storage market

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Australian peer-to-peer and B2C marketplace for storage space, Spacer, has teamed up with Costockage, Europe’s largest peer-to-peer storage provider, to take on Asia’s lucrative self-storage market and support its international expansion.

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.

“From day one international expansion has always been part of Spacer’s growth strategy, especially into the lucrative Asian self-storage market which is ripe for disruption. Our partnership with Costockage facilitates this by allowing us to draw on each other’s market knowledge, resources and experience to launch into new markets.”

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.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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