- We had sensed an opportunity in the market, which was nascent at that time for a fully serviced, plug-and-play space that startups and even mature companies could use to house their employees and focus on their business rather than manage administrative and operational tasks,” Shesh says.
- Blume Ventures, an investor in Bhive, had last July said that the founders had been travelling to mobilise funds, and had tweaked the business model to make it an asset-light model.
- For one year, we haven’t looked at raising equity capital as the focus has been on growing business through money generated from business and landlord partnerships,” Shesh says.
- Shesh says the Bhive brand was already strong, there were leads but expansions weren’t what they focused on so they completely cut down on marketing efforts.
- The average transaction size increasing from 52,000 per square feet in 2018 to 77,000 per square feet in Q1 of 2019.Currently, Bhive is working on three different expansion models: Landlord franchise: Landlord makes the investment on interiors.
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