The Ledger
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Pinata built its initial MVP using an external development shop
“You know, we actually found a development partner. And so we, you know, we basically iterated on that MVP initially with a development partner.”
B2B enterprise sales remain brutally hard even for free software
“And so I remember that, but again, even if it's free, it's still a difficult sales process when you're doing a B to B sale.”
Pinata reached 270,000 active renters on its platform
“I think we're Hovering around 270 ish renter, 270,000 renters. And these are renters that have been entered into our platform. So that does not account for the full portfolio size of some of our groups, knowing that our groups again will go in pilots.”
Pinata charges property managers starting at $1 per unit monthly
“So it starts at a dollar per unit per month. Now that price Will vary based on the actual product offering that they want to expose to their renters and the unit size.”
Pinata scaled to over 600 property management companies
“Yeah, so we have over 600 property management companies on the platform today.”
Small-to-medium operators own two-thirds of US rental units
“In the market right now, about two thirds of rental units are owned by small to medium shops, not the large institutional groups you often think about, the Gray Star, the Avalon Bays, and they actually don't represent the majority of rental units in the US rig…”
Pinata generated zero revenue during its 2021 pilot testing phase
“So about a year ago, early if we rewind early, 20, 21, we actually were not generating any revenue. And so we were Just coming off of that pilot phase where we weren't charging property management companies anything to use our platform. We were really running …”