How could investors reduce risks and ensure profitability? How could they get a clear understanding of future revenue? In what way could real estate investors benefit from a revenue generation simulation solution? Founder of Airbtics, Jae Seok An and myself addressed some of these questions in a recent conversation.
Introducing Jae Seok An, Founder of Airbtics, a revenue generation simulation solution
Brought up in South Korea, Jae (pronounced Jay) moved to Singapore and the United Kingdom to study computer science. He attended Oxford and then moved on to work at Facebook as a contractor. He realized very soon that, as his family was mostly made up of entrepreneurs, he felt more confortable lauching his own company rather than work for someone else. He continued on at Facebook to get the necessary skills and specifically the ability to learn how to scale a technology and a software.
Launching Airbtics, a revenue simulation tool for real-estate investors
Then, he launched Airbtics. Aggregating over 4 million rows of data, Airbtics provides revenue simulation to property owners putting up their place for rent on AirBnB as well as real estate investors. And it offers revenue simulations based on rates, as well as occupancy rates in every single town where AirBnB operates.
The data is enriched on a monthly level to ensure that it’s up to date and provides realistic simulations. In addition, Jae has also launched a podcast in which he interviews some of his clients to ensure that the simulation predicts real revenue figures.
The startup is mostly focused on Asian cities and is also targeting real estate investors who are considering buying a flat and renting it out on AirBnB.
The book taught him how to bootstrap and launch his own startup without relying on any kind of venture capital money. More specifically, he realized that reaching out to her virtual assistant on Upwork or creating a podcast to develop one’s network are very useful in reducing operational costs while still having an impact on the market.
He’s also very active on social networks, including a number of Facebook groups such as the business-to-business founder group and a few others too.
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