|By PR Newswire||
|February 21, 2014 06:22 AM EST||
HAMBURG, Germany, February 21, 2014 /PRNewswire/ --
Stephan Uhrenbacher moves to advisory board / Roman Bach now CEO
9flats.com launched by Stephan Uhrenbacher in March 2011 as the first European player in the segment.
http://www.9flats.com has evolved into a leading provider of private housing for travellers. In just three years, the Hamburg company has now achieved operating breaking even.
Starting as a first mover of the sharing economy in Europe, 9flats not only experienced the usual dynamics that govern the start-up industry. The company quickly found itself in an aggressive market environment, shaped by financial investors placing lots of money with imitators and international companies launching in Europe. Competitive pressure has further increased with the hotel lobby and rising advertising costs in the online travel.
"Becoming profitable in this tight market within the first three years make me proud," Stephan Uhrenbacher (43) admits. "It is an impressive example of business acumen. Roman Bach, who accompanied the venture from the start, played an important role in this."
Stephen Uhrenbacher explains further: "I can now hand over a stable business to Roman. As CEO, he will take over from now on. As chairman of the advisory board, I will forward the strategic advancement of 9flats.com."
Roman Bach (43) sees great opportunities for 9flats.com: "This segment is the fastest growing business model in online travel. 9flats.com continues to grow faster than the market. Achieving profitability is an important step for our further growth. Yet the next years are not only about profits, but also about continued growth. We're right on track on that score."
9flats.com (http://www.9flats.com) currently offers worldwide over 100,000 flats for overnight stays. Withits innovations, the company consistently distinguishes itself from the competition, i.e by showing final prices without hidden fees. As the first company to do so, 9flats.com introduced insurance for all travellers without extra charge. And 9flats.com is the only provider of overnight accommodation accepting Bitcoins. In addition to Upspring Holding, investors include the venture-capital firms eVentures, T-Venture and Redpoint.
Upspring Holding GmbH
Lerchenstrasse 16a, 22767 Hamburg, Germany