Entrepreneur Stephen Rapoport
Stephen Rapoport is the 29-year-old founder of Crashpadder.com, a hugely successful network that enables the weary traveller to kip in the house of a willing host.
Rather more engaged in entrepreneurial pursuits than academic ones, this handsome chap nearly failed his degree at Birmingham University. But it hasn’t mattered much. With over 500 pads in London alone, Stephen has created an enviable model for staying abroad, and revolutionised the concept of a sleepover.
Passionate about the internet and its ability to socialise information, Stephen worked with online businesses for over eight years, initially as the marketing manager for Empathy Market Ltd, then progressing to work with the likes of Virgin Airways, Lloyds TSB and The Telegraph Media Group as an independent consultant.
Crashpadder.com launched in 2008 and the company has grown from a bedroom-based start-up to a global marketplace, with hosts in over 1400 cities around the world. Business is set to soar with the Royal Wedding drawing in overseas crowds this year, and Stephen says that the overall increase in demand is already up by 36 per cent. Among US and Japanese tourists, demand has increased by over 100 per cent.
When and why did your interest in ‘Crashpadding’ begin?
‘It started during the 2000 Olympic Games in Sydney. I was working in a bar with a group of local guys and couldn’t afford the inflated rates being charged by hotels and hostels. I ended up crashing in a colleague’s spare room and paying him a nightly rate. Other bar staff cottoned on to the idea and before long all of them were hosting tourists, many of whom were regulars in the pub. The bar staff ended up earning more through hosting than they did from the pub, and their guests were saving a small fortune.’
How did you get the business logistically and financially started?
‘I was working as a consultant when the financial crisis really took hold, and found my income dropped by 80 per cent in the space of a single month. I decided to launch a business on a shoestring and haven’t looked back. The first version of the site cost just £900. I worked from home without a salary for the first year until it was generating enough income to pay a couple of staff, and to cover the cost of our office in Brixton.’
Would you call yourself an entrepreneur, and if so, why?
‘Definitely. I love the thrill of a start-up environment and couldn’t go back to anything my parents would refer to as a “proper job”‘.
As with most businesses, timing is paramount. So has the recession benefited you?
‘The recession has undoubtedly helped Crashpadder.com get traction, for three reasons. First of all, it offers hosts a means of supplementing their income at a time when pay is falling in real terms, and unemployment is on the up. In addition it enables travellers to save money on hotels – we’re 83 per cent cheaper than hotels on average. Finally, it is sociable and great fun; people need a reason to smile when times are harder and I like to think we offer that in spades!’
What makes a really good pad, from the perspective of a crasher?
‘The facilities that guests look for vary from person to person. Some will look for a big, comfortable room, others will want Wi-Fi or parking. For others it is location or price. I think that the strength of the Crashpadder network is the range of rooms we have on our books.’
And vice versa. What does the host look for in an ideal guest?
‘This comes down to personality. As a regular host, I will never accept a booking from someone I am not sure I’ll get on with as it is my home and I need to enjoy being there. I will look at a guest’s Crashpadder profile and check their bedtime, level of cleanliness, age, profession and the reason for their trip before making a decision. If I have any unanswered questions I will always ask the guest to answer them before accepting their booking.’
We know who your dream crashers are, but whose pad would you most like to stay at?
‘Stephen Fry, no question. I love Stephen Fry. I kind of want him to be my uncle.’
Is there a general demographic of your members?
‘The great thing about the Crashpadder user base is its variety. The average age of a user is 34, but the variation is huge. We have a host in NYC who is 90 this year! Roughly 50 per cent are travelling for work, though this tends to be freelancers, contractors and lowly start-up entrepreneurs!’
What does the future hold for Crashpadder?
‘Watch this space. As society becomes more comfortable with the idea of trading with one another rather than large corporations we will see greater growth and expand beyond the current 85 countries. This time next year, Rodders…’
If not this, what would you be doing?
‘Coming up with another web-based idea that identifies, and solves, inefficiencies brought about by large businesses. I love the way that the internet can socialise information and disrupt so many greedy business models.’
Where do you live in London and why?
‘Clapham Junction. I moved there when I first came to London from university and, unlike my friends, have never wanted to leave. I get lots of stick for wanting to stay in Nappy Valley but for me it just feels like home. I love all the little independent foodie shops, the Northcote Road market, Le Quecumbar and a pint of my favourite ale at the Fox and Hounds – fittingly the ale is called Proper Job.’
Where would you live (in London or the Universe) if you could?
‘Cheesy, I know, but I’d be living where I live and working where I work. I love London. Especially now that I’m hosting tourists and seeing their reactions when I show them some hidden gem that they wouldn’t have found out about without some insider local knowledge.’
What would you recommend everyone in London do at least once?
‘Take a date to Gordon’s wine bar.’
What is your favourite London eatery/ pub store?
‘For pub grub I would have to say the Fox and Hounds in Battersea, but for ales and cider you can’t beat the Bree Louise in Euston.’
What do you miss most about London when you’re away?
‘I always get a special feeling when I walk across the river, and I think that’s what I miss when I’m away. Especially London Bridge at sunrise, or Millennium Bridge at any time; it’s such a powerful reminder that this is one of the greatest cities in the world.’
What is your best London memory?
‘The day we moved into Crashpadder’s first office was a pretty special one, and not a feeling I will ever forget. We’re still in the same little space down in the Bon Marche Centre in Brixton and I hope we’re here for a long time to come.’
Is there such a thing as a typical London pad?
‘No, nor is there a standard kind of host. Our pads in London range from a £10 per night fold-out in Chelsea to a £350 per night penthouse in the middle of Soho. There’s something for everyone.’
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