Welcome to Value Drivers, the podcast exploring the forces driving value creation in today’s business landscape. Today’s guest is David Cohen, CFO of Tour24, a proptech company transforming the multifamily rental market with its self-guided tour platform.
About David Cohen:
David Cohen has over 35 years of experience in finance and investment. Before Tour24, he held leadership positions in investment banking, private equity, and public market investing.
David leads the finance team at Tour24, Inc, a growing proptech company serving the multifamily residential real estate market. He joined Tour24 in late 2022 after being introduced by two friends and board members.
In this episode, David shares insights on:
· How Tour24's self-guided tours solve these challenges for renters and property managers.
· The role of technology, including AI, in driving efficiency and user experience.
· Tour24's growth strategy, capital allocation priorities, and competitive landscape.
· Building a scalable financial infrastructure for a rapidly growing company.
Key Takeaways:
Self-guided tours are reshaping the multifamily rental market. Tour24's platform extends leasing office hours without adding staff, catering to busy renters and saving property managers money.
Technology delivers a seamless and personalized experience. Tour24 integrates with property management systems, includes audio guides, and uses AI for lead nurturing and automation.
Solid financial foundation is essential for sustainable growth. Tour24 invests in scalable systems like lockbox solutions and evaluates financial software to support future expansion.
Chapter Summary
(00:01:04) Introduction and David Cohen’s Background
(00:04:30) Identifying the Problem and Tour24’s Solution
(00:08:43) Meeting the Needs of Modern Renters
(00:10:06) Target Customers and Customization
(00:14:47) The Role of Data and AI
(00:19:32) Funding, Growth, and Competition
(00:25:08) Scaling Sustainably and Future Outlook
Resources:
Empire of Pain: The Secret History of the Sackler by Patrick Radden Keefe
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