Rent.com has announced a 4
From last quarter, the company suffered a $31,000 decrease in advertising revenue, a decline of 13 per cent. Rent did see a $53,000 increase in direct customer profits however.
Last month the company celebrated half a million unique users on its platform. The platform now hosts and additional 25,000 users today.
Rent CEO Greg Bader says advertising revenue continues to be a challenge for the company, but expects a change in momentum in coming months.
“While Advertising Sales revenue declined 13
Rent also announced new expansions on its mobile application, Rentpay. The company has integrated direct e-payment onto the platform, allowing users to pay rent, see payment history and receive reminders.
The company expressed focus on the application growth and a move towards a subscription-based revenue model. Currently half of the company staff work in the software development.
The company also mentioned interest of increasing company funds by placement to shareholders.