The rental experience has lacked innovation for decades, leaving renters, owners and operators all unsatisfied. Fortunately, Marcela Sapone and Jessica Beck created Alfred, the “largest and most advanced residential management platform.” In pursuit of its goal to provide a “resident-first experience,” Sapone and Beck recently acquihired Dandy, “a consumer technology company that’s raised over $3.3 million from top-tier Silicon Valley investors such as First Round Capital and technology executives from Snapchat, Twitter, Facebook, Tinder, Uber, Airbnb, and more,” and its cofounders, Daniel Newman and Leor Massachi. The two Dandy cofounders have much to say about their perspective on the proptech industry post-acquisition.
Marcela Sapone, cofounder and CEO of Alfred, says, “At Alfred, we’re building a culture where every member of the team thinks and acts like a founder and we love bringing true founders on board. When I initially met Daniel and Leor, I was struck by their ability to activate and excite communities. I’m thrilled to have them join our team so they can take their learnings from Dandy, and execute them on an even larger scale.”
Frederick Daso: How did your experience building consumer tech at Dandy attract interest from Alfred?
Daniel Newman and Leor Massachi: We have always had a fanatic focus on innovative revolutionary consumer experiences. Through our joint obsession with consumer products, we’ve developed apps, such as Dandy and The Zoom University, hitting the Top 10 in the App Store, reaching over 100 million views on TikTok. Similarly, Alfred is the pioneer of a resident-first approach to real estate. We’ve admired Alfred’s co-founders for creating Alfred’s business model based on exceptional tenant engagement and satisfaction. We have a natural synergy with their ambitions in becoming the largest residential consumer brand and product. We come with a deep understanding and expertise in consumer technology. By joining forces with Alfred, we are excited to help drive Alfred’s growth as a household name in residential real estate.
Daso: When did you first discover your interest in real estate? How will that be developed at Alfred?
Newman and Massachi: We’ve been interested in the industry since childhood, coming from communities and families that are heavily involved in real estate. We both graduated from USC with degrees in Real Estate Development and have one real estate broker license. At Alfred, we’ll be diving deep into the multifamily asset class to revolutionize some of the industry’s most antiquated practices and beliefs.
Daso: What initiatives will you two help Alfred further develop?
Newman and Massachi: Cohesively, we’ll be working on a cross-functional team that brings together all disciplines—product, growth, marketing, operations, engineering—to create new and experimental products that drive Alfred to provide the ultimate residential experience for renters. At this time, we’re not able to provide any spoiler alerts, but we’re confident that when we accomplish this vision, it’ll be held as the golden standard for all apartment buildings.
Daso: What are your thoughts on the proptech industry over the next couple of years?
Newman and Massachi: While real estate has historically been very slow to embrace technology, we’re now at an inflection point where those who adopt real estate technology solutions will fly far ahead of those who don’t. This is the decade where proptech goes from 0 to 100. We’re bullish on the significant value proptech will bring to each real estate asset class, and we’re very excited to take part in building that world.
Daso: How does Dandy fit into Alfred’s theme of “building the future of living?”
Newman and Massachi: Alfred is building the future of living by combining a passion for real estate, technology, and hospitality with an obsession with giving people back their time. Time and efficiency have been core pillars of Dandy from the very start, and we share a mutual understanding that time is finite. By creating mobile applications that allowed two people to build a genuine relationship in minutes instead of days or weeks, we developed a groundbreaking product experience that went viral. Now at Alfred, we’re excited to take these key learnings, coupled with our backgrounds and enthusiasm for real estate, to transform the biggest asset class in the world: residential real estate. Alfred and we share very bold ambitions for what the future of living looks like, and we can’t wait to unveil it to the world.