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Giggster will triple its revenue with the money invested by the syndicate.
What happened: Unable to verify whether Giggster's revenue tripled after the syndicate investment.
Verify at source ↗Not to our knowledge, they didn't. They were happy being able to say, we don't own any inventory, largest hotel group in the world without any buildings, you know, that kind of talk. And also, it probably if you look at what happened with the pandemic and the slowdown they had just before coming back on, that would have been a double nasty hit to have a bunch of mortgages to have to pay for, you know, you look at asset light marketplace versus asset heavy.
And of course the short-term rental space, Airbnb and HomeAway VRBO, they're very, very different beasts. You cannot book a production in an Airbnb. It's in their terms of use. They will ban you for it. It's a bad thing because the impact of a production is very different from the impact of a family stay overnight.