Find Your Next Roommate with MyRoomie
Today’s featured founder is Dominikos Pritis of MyRoomie
MyRoomie (English version here) was founded a year ago after founder, Dominikos Pritis, realized pain points in the Greek housing market. With rent prices being sky high and current options to find housing were oddly and poorly designed, Dominkos asked “Why don’t I create something for myself?”
An exciting success is that MyRoomie has recently received 50,000 Euros from the Dragons on Dragon’s Den, the Greek version of Shark Tank. Check out their spot on the episode by clicking here! Disclaimer - it's in Greek!
To date, MyRoomie experiences 1500 DAU, 80% MOM growth, and an MRR of 3,000 Euros.
These numbers have been achieved through guerilla marketing tactics - utilizing mainstream media and personal networks to create content that users connect with. Gaining awareness through word of mouth advertising and connections with agencies and larger companies has propelled MyRoomie to the forefront of housing apps in the Greek and Polish markets.
What is MyRoomie?
MyRoomie is an easy-to-use platform that provides vetted listings and roommates for users to choose from.
“People are used to living together, but there are no other solutions for them. MyRoomie is designed to be easy and non-distracting - find a room and a roommate.”
-Dominikos Pritis, Founder of MyRoomie
Amidst a war and economic crisis, rent prices are so high that many people are shut off from affordable housing. MyRoomie aims to soften the blow by allowing users to find a reputable and trustworthy roommate in order to share costs, thus making housing affordable. MyRoomie also has a deeper mission - to secure a more equitable and sustainable future.
“MyRoomie, is at the forefront of the shared economy movement and is helping people take control of their finances by providing them with an affordable housing solution. With the rise of inflation, finding a place to call home has become increasingly difficult, but MyRoomie is here to change that. Our platform uses cutting-edge technology, such as machine learning and AI, to match people with compatible roommates and rental options that fit their budget. Not only does this help combat inflation, but it also promotes sustainability by encouraging shared living spaces. MyRoomie is more than just a platform, it's a movement for a more equitable and sustainable future.”
-Dominikos Pritis, MyRoomie Founder
MyRoomie utilizes ML to gather data on what types of people connect as roommates and what listings they go for. The process is not fully automated at this point, but as more users and listings are accepted on the platform the ML models will be able to provide users with personalized lists of potential roommates and listings that match their profiles.
To date, MyRoomie has enabled 75 accommodations, meaning 150 people have found a room and a roomate. MyRoomie currently has 2,500 individuals and over 1,000 listings on the platform.
How MyRoomie Works
In order to take advantage of MyRoomie, potential roommates undergo background checks consisting of proof of bills and paychecks (similar to documentation required by housing agencies).
MyRoomie then goes beyond this and conducts interviews to determine the viability of allowing users on the platform. “We were getting people on the site who were looking for significant others, not a place to live” stated Dominikos in an interview. The vetting process MyRoomie utilizes is designed to remove users who are not serious about finding a roommate and housing situation.
A second prong in the business model is that MyRoomie connects with real estate agencies to add listings to their site. Similar vetting processes are designed to locate and secure listings that roommates find valuable. Once a listing is selected to be on the platform, MyRoomie administrators and moderators personally visit the sites to make sure that they are up to the MyRoomie standard.
A unique aspect that MyRoomie is taking advantage of are large companies who are building new offices and hiring thousands of people- who will need a place to live. MyRoomie is determining how to best connect with these large companies in order to alleviate burdens of finding housing solutions for the influx of new workers.
So far, Dominikos has reached out to one company, and true to his marketing background, leveraged this interaction as a beta test to determine the best avenues to close on these big contracts and provide meaningful solutions to their problems.
MyRoomie Goals for 2023
MyRoomie is looking to expand its user base around three segments: consumers, agencies, and large corporations. They are expanding into different housing markets as well, currently targeting Poland, Czechia, and several other European markets.
Continuous improvements to their AI and ML models are essential to automate and accommodate this user growth.
Advice for Fellow Founders
“Buy a domain, build a website and pursue that great idea you had for sometime now. Don’t sit and wait.”
-Dominikos Pritis, MyRoomie Founder