Manny Bamfo

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Manny Bamfo
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Born
Emmanuel Manny Bamfo

Southfield, Michigan, U.S.
NationalityAmerican
CitizenshipUnited States of America
Alma materWashington University
OccupationEntrepreneur
Years active2009–present
OrganizationRecharge and Globe
Known forHead of Growth at Hitch (Lyft-acquired)
TitleFounder
Websiteglobeliving.com

Emmanuel Manny Bamfo is a technology entrepreneur based in San Francisco who has worked in and founded startups focused on providing individuals places to rest that can be rented by the hour, or the minute.[1] He was Head of Growth at Hitch, which was acquired by Lyft[2], co-founded and served as CEO of Recharge[3], and is currently the co-founder and CEO of Globe.[4]. Bamfo was selected for the Business Insider Silicon Valley 100 list in 2016[5], and Forbes 30 under 30 list in 2019.[6] He has appeared on Mornings with Maria with Maria Bartiromo[7] and on Too Embarrassed to Ask with Kara Swisher.

Early life

Bamfo was born in Southfield, MI and grew up in Ann Arbor MI. While at Washington University in St. Louis in 2009, Bamfo met his co-founder at Globe, Eric Xu. The two worked on a startup together with other friends, and have been involved in various ventures through the years. After studying traffic patterns and noticing how the placement of coffee shops had a significant effect, Bamfo and his co-founders believed that something was missing. "You know the founder of Starbucks always talked about this third place, if you will, the place that’s in between home and work, and for us, from our viewpoint, that place was missing the comforts of your home."[7]

Career

As Head of Growth at Hitch during its acquisition by Lyft, Bamfo's experience in the ride sharing space led to his interest in providing something other than overnight hotel stays or coffee shops. The amount of downtime ride share drivers have was a key statistic, which caused Bamfo and his co-founders to question whether there were multiple sectors in which people needed a place to rest away from their typical circumstances, without having to book overnight hotels in advance. JetBlue was one of the early strategic investors in Recharge[8], which was focused on metropolitan cities and hotels.[7]

During his tenure as co-Founder and CEO of Recharge, the company raised $10 million from investors interested in the service "sharing" sector.[9]

While appearing on Maria Bartiromo's show on Fox Business channel, the host mentioned, "“Manny there is an old joke about hotels that charge by the hour.” (laughter) To which Bamfo replied, “Absolutely, you know, this is not about rock and roll, this is not about that…”, and Dagen McDowell added, "This is about sleepy, tired people."[7] On another occasion, Jimmy Fallon ran with the joke in one of his opening monolouges: "Listen, there’s a new app aimed at businessmen called Recharge, which lets you rent hotel rooms by the hour to take a nap, or shower,” (laughter), “and also that’s definitely not what it’s really for...uh, we have a great show you guys give it up for…"

In June of 2019, Bamfo and Xu founded Globe, with the stated mission of "organizing the world's housing." Whether achievable or not, their long range goal is to reach an economy of scale that combines any length of stay with other localized goods and services, which could cause a reduction in costs. Y Combinator accepted Globe into their lineup of early stage companies.

In the media

     

References

  1. Vora, Shivani (17 January 2018). "Want to Relax in a Nice Hotel for 15 Minutes? An App Can Make That Happen". The New York Times. Retrieved 4 May 2020. The company’s co-founder and chief executive officer, Manny Bamfo...
  2. Swisher, Kara (8 January 2018). "Too Embarrassed to Ask". Vox. Vox. Retrieved 27 April 2020. ...before this I was working in ride-sharing, so I worked at a very small startup Hitch and Lyft acquired it.
  3. Samar, Marwan; Carson, Biz. "30 Under 30". forbes.com. Forbes. Retrieved 27 April 2020. ...a startup that lets you pay-per-minute to use a hotel room to rest.
  4. "Emmanuel Bamfo". Crunchbase. Crunchbase. Retrieved 27 April 2020.
  5. Carson, Biz; Martin, Emmie; Naftulin, Julia (7 July 2016). "THE SILICON VALLEY 100: The most amazing and inspiring people in tech right now". businessinsider.com. Business Insider. Retrieved 8 May 2020. Bamfo came up with the concept after noticing that on-demand Lyft drivers had nowhere to rest between jobs.
  6. "Recharge". forbes.com. Forbes Lists. Retrieved 8 May 2020. Allowing people to turn their apartment into a hotel room that can be rented during the day...
  7. 7.0 7.1 7.2 7.3 Bartiromo, Maria (11 May 2017). "Mornings with Maria". Fox Business. Fox. Retrieved 27 April 2020.
  8. Haggin, Patience (24 April 2017). "JetBlue's VC Arm is Taking Off". Wall Street Journal. Retrieved 9 May 2020.
  9. Loizos, Connie (13 August 2019). "Would you rent out your living room for a few hours? This startup is counting on it". TechCrunch.com. TechCrunch. Retrieved 4 May 2020. ...which is perhaps why the popular accelerator program Y Combinator accepted the company into its most recent class of companies.

External links

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