SiGMA talks to THATSpace about the company’s plans to change the idea of a mainstream office environment
THATSpace is a new online platform of spaces, which is going to take part in the upcoming SiGMA Startup Pitch. THATSpace is aiming to change the way we work while transforming restaurants and hotels into satellite offices to help freelancers, professionals, students, and start-ups find and use workspaces efficiently. It’s basically an Airbnb for remote working. People can just pay by the hour for a secure, private and quiet space at an affordable price and get high speed internet, as well as hot and cold beverages to keep them going throughout the day.
What is your company’s unique differentiating idea?
THATSpace platform is a mobile solution where the users can reserve premium spaces out of an office for productivity on demand as the users pay by the minute. These premium spaces, such as hotels and high end restaurants, would include drinks and other productivity benefits at a valuable price that the owner of the establishment sets. At the outset, our company is responsible to assist the spaces to upgrade their amenities such as secured high-speed Internet and power outlets. THATSpace was designed to be scaleable and location-based. Therefore, the key for success is to be first-to-market while offering a unique and luxury experience.
What differentiates you from your competitors? Specifically, what do you provide that is currently not available in the market or how do you differ from your competitors?
Our solution is efficient and on-demand. Therefore, unlike co-working spaces one can use it when it is only required without monthly commitments. Unlike coffee shops, our user has a reserved space therefore, the hotel/restaurant cannot ask the user to leave the space because the user would have rented out it.
What milestones or tangible traction have you achieved to date?
In the first quarter of 2017, THATSpace conducted a small-scale pilot with the aim to transform two restaurants (Fortizza Restaurant and Bean and Loaf Café) into offices under the project THATSpace Offices with a monthly subscription business model. Hundred and five people signed up for THATSpace Offices and 30 people made use of this service. The outcome was positive with the majority of people showing an interest in using the service. After this phase, a pivot in the business model arose where it was clearly suggested to move to an on-demand model with a mobile solution.
THATSpace was selected to expand to Chile through Startup Chile. The company will have the opportunity to evaluate multiple markets while growing the product in different ecosystems. Eight restaurants/hotels in Malta located in the Southern Harbour, Northern Harbour and Northern districts are onboard with the concept. Currently undergoing final stages of getting the contracts signed.
We are expecting to launch in Q4 of 2017, we are expected to have seven spaces available in Malta while having onboard 8% of employees of the iGaming industry using our solution by sixth month after the launch in Malta.
Please explain your objectives for participating in SIGMA Pitch Event.
The objective for THATSpace to participate in SiGMA 2017 is to reach new iGaming companies interested to be ahead of the curve to acquire new talent and retain the staff by providing new benefits to their employees package. We are in a position to facilitate remote working while allowing indirect monitoring of the staff by the management.