- ApartmentLove Inc. (APLV) has acquired GottaRent dot com and other related domains from Metroland Media Group Ltd. for a $940,000 all-cash takeover
- The balance of the purchase price, plus a working capital amount, was paid from the company’s first tranche debenture unit financing, which raised nearly $3 million
- The acquisition of GottaRent.com is the second acquisition by ApartmentLove since going public in the summer of 2021
- This acquisition included 12 Canadian markets like Hamilton, Mississauga, and Oakville
- Trevor Davidson, President and CEO of ApartmentLove, met with Daniella Atkinson to discuss the acquisition
- ApartmentLove Inc. (APLV) opened trading at $0.11 per share
ApartmentLove (APLV) has acquired GottaRent dot com and other related domains from Metroland Media Group Ltd. for a $940,000 all-cash takeover.
In early November, ApartmentLove paid a $100,000 deposit regarding the purchase price. The balance of the purchase price, plus a working capital amount of approximately $54,000, was paid to Metroland from the proceeds of the company’s first tranche debenture unit financing, which closed on Tuesday and raised nearly $3 million.
The transaction for GottaRent.com and affiliated domains is the second acquisition by ApartmentLove since going public in the summer of 2021.
Trevor Davidson, President and CEO of ApartmentLove, met with Daniella Atkinson to discuss the acquisition.
“In addition to the immediate and profoundly positive impacts this transaction will have on our income statement, and balance sheet, leveraging the proven successful sales and marketing strategies used by GottaRent.com to secure monthly recurring paid customers is a coveted trade secret and one we are eager to implement as we continue to invest in Search Engine Optimization targeting renters and landlords in major rental markets in Canada and the United States.”
ApartmentLove.com has a footprint in more than 100 major rental markets across the United States, and this latest acquisition covered 12 Canadian markets, such as Hamilton, Mississauga, and Oakville, all based in Ontario.
ApartmentLove Inc. (APLV) opened trading at $0.11 per share.
