Buy the Homes, Control the Outcome: Lessons from Wander
Originally a thread on X/Twitter:
Gigantic businesses can be created when an amazing Founding team focuses its attention on a rock-solid business idea that’s perfectly aligned with an emerging mega trend.
This is what #Founders and #VCs live for.
Curious what this looks like for a 15-month-old company?
The Problem Statement
The pandemic has taught the world that it’s possible to effectively work remotely. One result of this discovery is that many knowledge workers are interested in occasionally working from “destination locations” that allow them to mix work with fun.
But there hasn’t been a great way to find rentals in vacation destinations where being able to work remotely is a requirement.
On sites like Airbnb, what you see and what you get varies wildly. Reliable high-speed internet and dedicated work zones are rarely “as advertised.”
The Solution Statement
Jon Andrew Entwistle came up with a solution after experiencing the frustrations firsthand.
He realized that Airbnb couldn’t control the experience because they didn’t control the inventory.
@wander was born from this simple yet profound insight.
@wander buys properties in stunning destinations. The houses are specifically designed for the use of individuals/teams that can work remotely.
Each house is equipped with multiple desk setups and high-speed internet to make working remotely easy and seamless.
The houses are equipped as Smart Homes for keyless entry, automated lighting and window shade controls.
Every property has a gym/Peloton and a Tesla in the garage. The “look and feel” of each property is intended to emulate that of a luxury hotel.
The Early Traction
Jon Andrew built it and they came:
– 11 Properties and more coming
– 100,000+ Wander accounts created
– 513 trips booked
– 2,092 nights (5 years of happiness)
– 94.6% customer satisfaction rating
Amazing considering birthdays only have an 89% rating!
And the “why” is easy to understand:
Mega-Trend
The pandemic shifted attitudes towards remote work
Concept
Who wouldn’t want to work out of an Insta-worthy house with luxury amenities in a great location?
Team
The execution has been flawless
And There’s More
With strong proof that the model is working and ultra-high satisfaction levels from its loyal members, the @wander team has decided to step on the accelerator.
New properties are being onboarded every few weeks and the innovation agenda has been accelerated.
Which brings us to a major new offering that @wander launched earlier this week: Wander Atlas.
Wander Atlas is an investment vehicle that allows its members to become part of the Wander family AS OWNERS.
This is a big deal because ownership will drive preference and loyalty.
At the center of the Atlas program is a REIT structure that allows members to invest directly in the cash flows of the @wander properties while benefiting from regulatory and tax benefits.
The capital will be used to onboard additional properties and turbocharge growth.
The current version of Atlas is only available to accredited Investors, but down the line this requirement could be lifted.
And the team is already thinking about web3 integrations and a possible public listing in the future.
This changes the game!
https://x.com/wander/status/1583122101485326337
The TL;DR is obvious.
It’s not often that an amazing team comes together to tackle the perfect problem at precisely the right time, but when the stars align the result is amazing.
It’s what Founders and Investors dream of!