RadPad
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
RadPad was a photo-based mobile app for apartment renters. Its flagship 'Pay With RadPad' feature let renters pay rent by credit or debit card — RadPad charged the card and mailed the landlord a check — and it also offered renters insurance, credit reporting and lease signing. In 2014 it was the largest rental service in Los Angeles.
02 / RadPad FAILURE REASONS
Failure reasons
RadPad collapsed in the fall of 2016 under financial strain. Renters reported bounced checks to their landlords, the company laid off staff, auctioned off office equipment, and was hit with a data-scraping lawsuit from Craigslist. On October 13, 2016 it stopped processing rent payments entirely and deleted user payment accounts. Its assets were sold to LandlordStation on December 31, 2016 in what was effectively a distressed sale, and the revived service ceased operations in 2021.
03 / EVENT HISTORY
Events in the structured record
- Company founded
RadPad was founded.
- Acquisition
RadPad was acquired.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In October 2016, RadPad stopped processing rent payments and permanently deleted user payment accounts on October 31.
- 02
On December 31, 2016, its assets were acquired by Dallas-based LandlordStation for an undisclosed price.
- 03
Pay With RadPad was relaunched under new ownership in 2017, but operations ceased in 2021.