Selina, an organization that provides coworking hotels to digital nomads, has purchased Remote Year, a company that has an alumni base of 2,000 of individuals. This acquisition allows these platforms to fill needs that the other one has.
The acquiring company, which was founded in 2012, provides travel packages to 76 properties that are located throughout the Americas and Europe and in Israel. Guests can simply book one night’s stay or take advantage of a membership, which offers access to a number of other amenities in addition to accommodations. These include wellness activities, discounts on food and drinks and working spaces.
Remote Year was founded seven years earlier and provides its members with worldwide travel itineraries that last one, four, six and 12 months. Accommodation, coworking space, cultural experiences and all transportation other than the start of the itinerary are included in the cost of the plans.
Helped by the support that it will receive as a result of this acquisition, Remote Year is planning to resume operations, which had to stop in March, in the near future. Once it does, it will also ensure that all of its not-yet-fulfilled commitments are met.
Sam Pessin, its CEO and co-founder, has stated that he and his team “could not be more thrilled to join the Selina family” and are ready to incorporate Selina into its restart and for the expected “surge in demand” that is expected to follow it.
Rafael Museri, a Selina co-founder, added that “we plan to continue … to offer unique experiences at the intersection of culture, work and travel.”
Organizations such as these two are expected to continue to grow in value in the coming years. Even before the pandemic caused so many employees to unexpectedly move to remote work throughout much of 2020, the prevalence of digital nomads had been increasing at a steady rate. According to a survey that was conducted by the Boston Consulting Group, it is believed that 40% of employees will soon be working remotely.
Remote Year is just the latest of investments that Selina has made. Earlier in October, Selina invested in LEO, which is an Israeli e-scooter sharing company. Museri said that his organization had realized that green transportation will ultimately replace cars, buses and trains and is happy to playing a greater role in that trend.