Tim Choate, CEO, RedAwning
After building two technology startups, Tim Choate founded RedAwning in 2010. The company offers branded vacation rentals as well as technology services to property owners and managers.
The U.S.-based vacation rental platform received $40 million of funding in 2017, in a round led by Silversmith Capital Partners.
Competition in the vacation rental space is fierce from both a B2C and B2B perspective.
Existing players are expanding their presence and new entrants are jostling for position.
RedAwning, based in the U.S., has been around for almost a decade and has, in some respects, operated under the radar, making acquisitions and growing steadily.
The company received funding of $40 million in 2017 giving lead investor Silversmith Capital Partners a “significant minority stake.”
In an interview recorded during The Phocuswright Conference in November 2019, RedAwning CEO Tim Choate discusses the intense competition in the sector.
He also touches on the company’s acquisitions made in 2018 of web services specialist Blizzard in April and Leavetown later in the year.
Choate also talks about funding and trends in the rental accommodation sector, as well as a blurring of lines between private and traditional accommodation for where people sleep when on the road.
The march of Google in vacation rental distribution was part of the discussion, alongside the potential for the “rundle”, or revenue recurring bundle - a phrase brought up by Kara Swisher during her appearance at the same conference.
Watch the full interview below.
In The Big Chair LIVE: Tim Choate at RedAwning (PhocusWire @ Phocuswright Conference 2019)