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Recharge guest leaving after a refreshing break. Photo: Recharge

Recharge, a San Francisco startup that made headlines a few years ago for offering hotel stays by the minute (for a nap, shower or phone call, the company says), is expanding to offer the same service in people's homes.

The big picture: Technology has enabled the creation of online marketplaces that segment the use of physical space in new ways — from Airbnb's home-sharing service to companies like Breather that let you book office space for a meeting or call. Even Airbnb recently acquired Gaest, a marketplace for renting out office space.

How it works: Guests in the Bay Area, Los Angeles and New York can book a stay in an available home via the Recharge app just as they would book a visit in one of its hotels.

  • For hosts, Recharge offers two options: a self-managed option, which means the host takes care of the cleaning and gets to keep most of the revenue, and an "autonomous" option, for which Recharge provides the cleaning, but takes a much bigger cut of the fee.
  • Hosts have to apply and be vetted, including providing a copy of their lease if they don't own the home to ensure the service won't violate its terms.
  • Recharge co-founder and CEO Emmanuel Bamfo says that the company's service is legal, even in cities like San Francisco and New York with strict home-sharing laws, because there are no overnight stays.
  • But ultimately, it remains to be seen whether landlords react negatively to Recharge, he admits.

By the numbers: To date, Recharge has had 50,000 bookings, with an average stay of two hours, says Bamfo. It works with 50 hotels and has approved 1,100 homes. Eventually, says Bamfo, Recharge wants to purchase and manage its own hotels to have more flexibility.

Funding: Since raising $2.3 million in seed funding in 2016, Recharge has brought on strategic investors like JetBlue Ventures and Fifth Wall (which has ties to the real estate industry), bringing its total funding to $10 million.

Go deeper

18 mins ago - Politics & Policy

Democrats propose raising debt ceiling through midterms

Speaker of the House Nancy Pelosi and Senate Majority Leader Chuck Schumer. Photo: Stefani Reynolds/Bloomberg via Getty Images

House and Senate leadership announced on Monday that they plan to attach a proposal to raise the debt ceiling through Dec. 2022 to a short-term, government funding bill. The bill must pass before the end of the month or Congress risks a shutdown.

Why it matters: Democrats are taking a huge risk by trying to force through an increase of the debt limit in its must-pass funding bill. The move is wishful thinking on behalf of Democrats who are hoping they can get at least 10 centrist Republicans to balk, as well as an effort to put Republicans on record opposing it.

Biden to stress U.S. does not seek new Cold War in UN speech

Photo: Al Drago/Getty Images

President Biden will use his first address before the UN General Assembly to lay out his vision for an era of "intensive diplomacy" with allies and "vigorous competition" with great powers — without a Cold War with China.

Why it matters: Biden will take the podium in New York on Tuesday with his own international credibility in question after the chaotic withdrawal from Afghanistan. His administration also is struggling to build international momentum to fight climate change, the pandemic and rising global authoritarianism.

5 hours ago - Health

Biden administration to lift travel ban for fully vaccinated international travelers

Photo: Win McNamee/Getty Images

White House COVID-19 response coordinator Jeff Zients announced on Monday that the Biden administration will allow fully vaccinated travelers from around the world to enter the U.S. beginning in November.

Why it matters: The announcement comes as President Biden seeks commitments from countries to donate vaccines to the global COVAX initiative. He is expected to host a COVID summit on the sidelines of the UN General Assembly this week, and many of the countries attending have expressed frustration with the travel ban.