Ollie co

The company's business model centered on partnering with institutional real estate investors and developers to manage and operate coliving spaces within their buildings. Ollie's revenue was generated through management fees or by capturing a rent premium over a pre-agreed lease price with property owners. The firm offered fully furnished micro-studios and shared suites, targeting a demographic priced out of conventional housing markets, including young professionals and even baby boomers. Its all-inclusive model bundled rent with amenities such as Wi-Fi, cable, regular housekeeping, and access to community events, creating a hotel-like living experience. Ollie also developed its own technology for roommate matching and community engagement.

Ollie expanded its operations to several cities including New York, Pittsburgh, Los Angeles, and Boston. A significant project was ALTA LIC in Long Island City, which became one of the largest purpose-built coliving buildings in North America. The founders departed from their executive roles in early 2020 but remained on the board. Following challenges, including the impact of the pandemic on occupancy, Ollie was acquired by its competitor, Starcity, in an all-stock transaction in December 2020. The deal included Ollie's technology, intellectual property, and management contracts, integrating its assets and key personnel into Starcity's expanding global portfolio.