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The Venn Effect: New Impact Study Proves Landlords and Residents Benefit From Neighborhood Participation

/EIN News/ -- NEW YORK, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Venn, the world’s only platform and experience company focused exclusively on strengthening the social and economic health of neighborhoods, recently published the findings of its national trends report, which found that while most people seek stronger human connections in their neighborhoods, they don’t know how to find them. To dig deeper into how Venn is solving this problem and driving real-world results for neighborhoods, property owners, residents, and local businesses, Venn conducted a local impact study in tandem with its trends report. This second survey included more than 300 Venn neighborhood residents in Brooklyn, New York, and Kansas City, Missouri, and more than 200 non-Venn renters in the same cities. The topline result? Venn residents feel significantly more connected to their neighborhoods than do their counterparts. And their connectedness aligns with greater community participation. The study is available to download on the Venn website here.

The highlights:

  • Compared to locally-connected Venn neighbors, non-Venn renters nationally are significantly more likely to rely on social media to create and nurture the personal connections they crave. In fact, they’re two times more likely than Venn residents to report often meeting and spending time with people online. Online networks might seem like a good replacement for real-world connections, but recent research shows that social media sites can actually harm relationships.

  • Venn residents’ feelings of connectedness get stronger the longer they live in a Venn community (35% in the first two months vs. 58% percent after six months to a year).

  • Venn residents also better understand how to support their local neighborhood economies (47%) than non-Venn residents in the same cities (36%).

  • Forty-five percent of renters said they’d be more likely to choose an apartment building that offered neighborhood services over one that didn’t. Moreover, renters are willing to put money on the line to get this help: Roughly two out of five said they would pay more for services and experiences that help them feel more connected to their neighborhoods.

“Our trends report showed that people are craving new ways to connect in real life while tech giants double-down on new virtual realities that will exacerbate feelings of loneliness. Venn is the solution to this problem,” said Or Bokobza, Co-Founder and CEO of Venn. “The most important difference between Venn and social networks is neighborhood participation. Getting people involved and emotionally invested in their communities is at the core of what we do. These new numbers don’t lie; Venn’s Neighborhood-as-a-Service offering is working for residents, property owners, and local businesses alike. And that means stronger neighborhoods.”

Venn has expanded rapidly over the past two years, experiencing 1,200% growth between 2020 and 2021, and announcing the close of a $60M Series B funding round in 2021, bringing the company’s total funding to $100M. The company also launched in Kansas City, MO, last year, with plans to expand to several more cities in the U.S. in 2022. To learn more about Venn, please visit www.venn.city and download Venn's 2021 Impact Report: The Venn Effect.

About Venn

Venn is the world’s only platform and experience company focused exclusively on strengthening the social and economic health of neighborhoods. Merging best-in-class digital products, trained community experts, inviting physical spaces, and custom events, Venn promotes real-world connections between neighbors and neighborhoods. Our goal is to create Belonging for Neighbors and stronger business for our Partners.

Founded in 2017, Venn operates in neighborhoods from Brooklyn to Tel Aviv and Kansas City, with thousands of units under management for dozens of partners. The company has raised $100M in venture capital from top-tier investors and is expanding aggressively around the world.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/0066c7c4-da23-485a-92e5-6342b37c1199

https://www.globenewswire.com/NewsRoom/AttachmentNg/03b13d6c-f532-4f20-94ad-ae2c9065cdab

https://www.globenewswire.com/NewsRoom/AttachmentNg/00339428-6500-4a3f-91a6-fe0562dc08ea


Media Contact:
Amelia Vereb Detty
Avenue A Communications
amelia@avenueacomms.com

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The Venn Effect: Neighborhood Participation (1)

The Venn Effect: New Impact Study Proves Landlords and Residents Benefit from Neighborhood Participation
The Venn Effect: Chart

Venn Residents Grow More Connected to their Neighborhoods Over Time
The Venn Effect: Neighborhood Participation (2)

The Venn Effect: New Impact Study Proves Landlords and Residents Benefit from Neighborhood Participation