ApartmentLove.com raises moneyToday's press release says "Apartmentlove is a leading provider of residential rental marketing services to landlords and property managers nationwide. Promoting rental properties in every major rental market in Canada and the United States, Apartmentlove has active rental listings in 30-countries on 5-continents around the world and is among the largest home and apartment finder websites online today. Having proven its ability to scale as a fast-growing technology company in the hot "PropTech" industry, Apartmentlove is executing its growth and expansion plans as promised by acquiring good assets in choice rental markets at attractive multiples."
Does anyone know if they are promoting other company's listing or is Apartmentlove actually getting paid for this. Why is the company's revenue so low if they have paid listings around the world?
The press release also says "As noted above, net proceeds of the Offering will be used for retiring existing payables and for general operating purposes". It appears that the company has not been paying the bills as it is using the money to pay existing payables.