Posted on August 05, 2022
Stay Alfred Inc., a one-time darling of Spokane’s entrepreneurial ecosystem, is closing its doors permanently, says Jordan Allen, founder and CEO of the short-term rental company.
Allen says the company couldn’t stay afloat after the coronavirus pandemic—and resulting travel bans—abruptly stopped the company’s ability to generate revenue and new investor interest dissipated.
“My heart’s broken in a lot of ways,” Allen told the Journal in a videoconference interview on Wednesday, May 20.
The only thing that exceeds the 8-year-old company’s meteoric rise is its precipitous fall. As recently as early March, Allen and his leadership team were meeting with investors in attempts to secure a round of funding that would have generated up to $30 million, he says.
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