The Office Exchange revenue, CEO Devin Davie, team size, customer count, churn, and more in 2022.

hey folks my guest today is devin davies the founder and ceo of the office exchange after graduation from radford university in 2012 he began with an internship at thompson reuters and then he began working full-time for cgi federal in 2012 as a software developer now he's building the office exchange which is effectively airbnb for commercial real estate devin you ready to take us to the top let's do it all right so first off how do you get access to the commercial real estate are you buying it are you leasing it how do you do that so it's a great question you know the way in which we're able to get access to the various different spaces in the sierra realm is you know working with you know folks that are looking to offload some of that space you know times are changing in the way in which we leverage space and to be able to get to those individuals you have to understand where they are currently at and there's been a delta in the way in which we work right in the way in which you know folks are moving to hybrid types of models and by proxy of you know reaching out to them either you know directly or you know them finding us eventually on the platform we're able to close that gap to show folks that you know there is a future in how we're able to leverage cre kevin just to be clear how many where do you have office space today is it just in radford so the office space is actually across the nation so the platform is basically a conduit to be able to close the loop on the future of the workflow okay and how many how many individual offices do you have currently on the platform and what's the total uh square footage oh great question so we've got about 50 to 100 different listings on the platform currently and we're growing literally uh just before jumping on this podcast i was having a discussion with another person within the cre realm that's looking to onboard their spaces to the platform and the goal is to really be able to bring the cre space into the future and be able to close the loop on the future of the workforce and again uh for for cre yeah devin the vision makes sense i think my audience gets that what i'm trying to figure out here is why you're gonna be the one that wins that that's what i'm trying to dig here right so breather tried this didn't go so well it was basically an aqua hire when they sold what are you going to do differently oh that's a great question a great question so simplicity right simplicity is number one on the platform okay but devon what does that mean i use breather personally as a customer probably spent over thirty thousand dollars booking stuff it was very easy to use there was no problem with simplicity in my opinion right well you know going to the office exchange is like leveraging how you will book an airbnb it's about how you would go about uh you know easily getting uber eats or anything of that nature it's it can literally take less than 10 minutes to obtain that space you know devin i know that breather did this though like that there they were simple i could do it under 10 minutes it didn't it didn't work it didn't work they flash sold it was a great guy didn't work so what are you doing differently well we're also taking it from the perspective of everybody wins you know a lot of platforms there is a cost to be on the platform to be on the on the office exchange there is no cost to be on our platform whatsoever we take no cost for a host to be on the platform zero so to join the platform you simply are able to create a create your credentials and once your credentials are created you're able to then be able to leverage it instantaneously and posts don't pay you if hosts don't pay you to be on the platform how do you make sure when a consumer like me goes on to book space that that host is actually going to have that space for you why wouldn't they go well wouldn't it just be whoever whichever network brings me the the leaser first is who i'm going to give it to that's a that's a great query as well so what we do is we provide value to the host the hosts are just as important as the guests on our platform right when you are getting the analytics the ai the data to know how to specifically how to better price your space how to better connect to your guest and to actually have the marketing handled by the office exchange by proxy of the office exchange we're able to close that gap and close that loop and that's one of the ways in which we differentiate oh what's going on there youtube good to see you guys now imagine this you love watching these interviews with sas founders but imagine if we took all of the valuation data out from over 2807 interviews i've done manually saves you a lot of time well we've done this we've built it into the beautiful interface inside of founder path check this out i'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for valuation this year now the secret evaluation is there's many different ways to value a sas business so the reason you're going to see three or four different valuations inside of your frowner path dashboard this is all free by the way is because depending on who's doing the buying of your sas company you're going to get a different valuation a vc is going to pay a different valuation private equity firm is different if you're going to do a minority sale that's different and if you sell the whole business that's a different valuation you can see all those when i hover over here right so the teal is what a vc would pay yellow is what private equity and red is if you sold the whole thing outright now what's cool about this is this is not built off random data again you guys hear these interviews on youtube all these datas are built from real time valuation data points founders share with us on the show so traction 1.2 million seed round 3.7 raise they sold 22 percent of their business go in here and filter by the event maybe you only want to see companies that have sold the whole business well here are a bunch that have been acquired the valuation and the multiple maybe you're going out right now and you're raising your seed round well go in here and look at all this recent seed deals that went down what they raised what valuation they raised at and what percent that they sold there's never been a larger data set of sas valuations than what you can get now inside of founder path and we're thrilled to bring it to you all right we're going to go back to the youtube video here in a second but if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash evaluations or if you go to founderpath.com and hover over products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform i hope to see you there all right let's jump back into the interview but pricing do you have great pricing optimization though you need a massive data set i mean everything you just mentioned are what companies that have scale can do airbnb can do pricing optimization because they have the largest data set they can book you because they have the larger the most amount of eyes on them their app has millions of downloads you don't have any of this yet so what's your mouse trap how are you gonna get going yeah so great great question as well you know the the the name of the game is being able to uh execute on exactly the fundamentals of the office exchange and that's providing work-life balance back to folks and in a time in which there is so much uh disruption in this this realm by being able to close the loop from a technological standpoint sorry i just i don't know what that i don't know what that means like can you can you give me real examples here instead of sort of marketing jargon so so it's being able to be tactful about how you reach out to the guest and you actually connect them with the software in and of itself being able to actually bring folks onto the platform and provide value to those hosts be it intrinsic but over time those analytics and data components will add additional value to those folks to keep them on the platform so 50 50 to 100 hosts have signed up today um i think you're getting ready to launch correct me if that's wrong but how do you have anyone that has actually booked time or space in one of those listings yet so we actually got a few folks that are in the process of going through the uh but nobody closed yet no one has actually paid and physically sat in the office that you leased them correct not as often not as yet like i said you know we are still in uh you know soft launch mode and we are launching actually at the end of this month and everything that's cool that's an obviously very exciting time so what is your plan to go find the other side of the marketplace do you have 100 listings how do you go find people to book oh that's that's a great query you know we are we are focusing on heavily on marketing and we're focusing heavily on being able to obtain the right type of uh of folks and companies that are really looking to...