INSUBCONTINENT EXCLUSIVE:
cryptocurrency, in the search for better product-market fit
One that found its groove early on, however, is today announcing an acquisition to expand its existing business into a new market category
Clutter, the on-demand removals and storage company backed by SoftBank, is today announcing that it has acquired The Storage Fox, a startup
Storage Fox is currently active.The deal is valued at $152 million, Clutter said
acquisition, but said his company is likely to be taking on more financing in the future for growth.To date, Clutter has raised $310
million, according to PitchBook, including a $200 million round earlier this year led by SoftBank that valued the company at $600 million
exploring how to grow internationally
Hamoui, partner at Sequoia Capital, in a statement
Storage Fox are extremely rare, and this acquisition signals that Clutter is uniquely positioned to take on and succeed in the self-storage
the messy business of helping people move and store their worldly possessions, from which Clutter makes revenues by charging service
the storage centers themselves tend to be far outside city centers
On top of this, Clutter has largely operated on a long-term lease model with the facilities that it uses.In that regard, this acquisition
will be giving the company a couple of interesting new possessions of its own, to tap the self-storage market, estimated to be worth $40
centers, since the model is predicated more on people being able to dip in and out of their storage units quickly and potentially very
In its case, its facilities today are in Yonkers, White Plains, Queens and Brooklyn.It will also give Clutter a trove of real estate that it
actually owns, it will also give the company a point of entry into a new range of business services alongside self-storage
Could that extend into something like office space, potentially pitting Clutter against one of its portfolio neighbors, WeWork? Mir declined
Earlier this year, it acquired the storage business of Omni, which itself is currently focusing on rentals.Storage overall has not been an
movement of it might be tied up in all kinds of backstories that make getting from A to B and eventually back to the owner again very
are quick to publicly complain about when something has gone awry
