Marketplace for renting event venues

Helsinki alone has more than a million square metres of empty office space. There is also a lot of other space, such as that used for events, that stands largely empty, and information about the availability of these venues is scattered. Venuu’s service helps customers source available premises by compiling and publicising details on the various types of space available. In the long run, efficient marketplaces such as this can reduce the need to build new premises.

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Problem

Globally, there is an abundance of venues that have low usage rates. These include cafes, restaurants and conference facilities that are only open during the day. For example, the usage rate of conference rooms at hotels is typically around 30%. Event organisers may find it difficult to find appropriate and interesting venues since many venue owners who rent out facilities as their primary or secondary business do not necessarily invest in making venues easy to find. The underuse of venues can lead to needless construction of new facilities and, in turn, to a wasteful use of resources and a rise in rents.

Solution: a marketplace for venues

Venuu lists venues offered for booking by various types and different-sized venue providers on its website. Venues can be booked for parties, conferences, weddings and other events. Potential bookers can search for facilities on the company’s website on the basis of the type of event they are arranging, the location of the venue and the number of people who will attend the event. Venuu also offers personalised customer service for corporate clients to help them find suitable facilities. The efficient marketplace cuts down on the need for building new facilities, increases the use of existing venues and thus decreases the venues’ environmental load over their life cycles.

Revenue logic and benefits for Venuu

The use of the service is completely free for parties that book venues. Venuu charges a commission only for realised bookings from the parties who are providing their facilities for booking. This lowers the risks and costs of the facility owner for advertising free facilities which, in turn, can increase the range of venues offered.

Benefits to customers and end users

It is simple for parties looking to book facilities to find venues for different types of use and to compare these with others because the prices and availability of venues are clearly listed. The booking process has also been made as simple as possible. The company also indirectly helps prevent rents for venues from rising drastically.

FACTS

Venuu in a nutshell

Main business: online portal

Established: 2013

Net sales: less than €1 million

Launch of circular economy solution: 2013

Share of the circular economy solution of the total business: 100%

Employees: 10-250

Based: Helsinki

Website: https://venuu.fi and https://venuu.se

Project

The most interesting companies in the circular economy in Finland

The most interesting companies in the circular economy is a list compiled by Sitra to showcase Finland’s most inspiring examples of the circular economy. Sitra is using the list as a way to challenge Finnish companies to meet the changing needs of the world.

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