Spacehuntr
About the Company
Spacehuntr was established as a fully integrated 360-degree platform designed for corporate event planning. It allowed users to handle all aspects of event management, from booking venues to organizing accommodations and transportation, through a single digital interface. The company catered to prestigious clients, including Airbnb, Netflix, and Gucci, who appreciated the convenience of consolidating their event logistics. Based in Belgium, Spacehuntr operated internationally, focusing on 13 major European cities within the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector.
Despite initial challenges, Spacehuntr experienced remarkable growth. By 2019, its revenue surged by 700%, and it continued expanding despite the obstacles posed by the COVID-19 pandemic. The company’s success was driven by its innovative approach to streamlining event planning and its commitment to customer satisfaction through services like a 24-hour hotline.
Idea Behind Company
The concept for Spacehuntr was inspired by Dietrich Moens’ experiences in corporate settings, where traditional meeting spaces felt uninspiring and draining. Originally envisioned as a coworking space platform, the idea evolved after the founders realized their initial product lacked market fit. They pivoted when a lost client in Brussels sought help finding a unique venue for an international event.
This interaction sparked the idea of specializing in venues for international corporate clients, particularly those who couldn’t conduct site visits. The founders shifted their focus from coworking spaces to a broader event planning service, emphasizing unique and memorable venues. This pivot not only addressed a clear market need but also positioned Spacehuntr as a key player in the event management industry.
Creating the Company
Developing Spacehuntr’s platform involved extensive mapping and automation to create a seamless user experience. Initially, the team over-invested in features and automation, neglecting market testing. This misstep delayed progress until a startup mentor advised them to prioritize sales over scalability in the early stages.
The team shifted their focus to client acquisition and learned to launch imperfect products to gather real-world feedback. They discovered the importance of balancing automation with human-to-human interaction, particularly in the B2B sector. Early customers played a pivotal role in refining the product, providing invaluable insights that helped shape the final platform.
Launching the Business
Launching Spacehuntr proved challenging for the founders, who struggled with prioritization and resource allocation. Their perfectionist mindset and bootstrapping approach slowed the ramp-up process, but they gradually learned to prioritize tasks and accept imperfections in early releases.
Over time, the team adopted a more agile approach, launching minimally viable products to gather market insights. They emphasized customer success, offering unparalleled support to retain clients. This strategy paid off, with a retention rate of 33%—a rarity in the industry. Their dedication to understanding and meeting customer needs became a cornerstone of Spacehuntr’s growth.
Earnings
Spacehuntr achieved impressive financial milestones, with monthly revenues reaching $50,000. The business was on track to break even by May 2021 but faced setbacks due to the global pandemic. Despite these challenges, the company invested in talent acquisition and content development, positioning itself for long-term success.
The founders explored opportunities in hybrid and virtual events, recognizing the shift toward remote work and the demand for flexible meeting spaces. While Spacehuntr ceased operations in 2023 following its acquisition by Eventflare, its innovative approach and commitment to excellence left a lasting impact on the event management industry.
