![]() With the money Houzz has raised, it is hiring aggressively. ![]() And homeowners who look to connect with home professionals and find the right products and materials use Houzz to complete their projects." Houzz takes a 15% commission on those transactions, according to the spokesperson.Īs Zeev said, "Service providers and vendors/sellers who have a need to connect with homeowners use the Houzz platform. In addition, consumers can purchase products and materials they find on the site through Houzz Marketplace - we have over 9 million products today from over 20,000 sellers. ![]() Houzz has a freemium revenue model for service providers who can create a free Houzz profile and can pay to "get additional visibility in a specific area," according to the Houzz spokesperson. Nine months later Houzz raised its first venture capital round from Sequoia." I led the $2 million round of financing when Alon decided to quite eBay and work on Houzz full time. Houzz is dominant in attracting consumers and design professionals and strong in partnering with vendors. It built and introduced its two revenue channels based on the need and demand of its community. ![]() As he said in a September 14 interview, "Houzz has 1,500 employees - and is the only company providing an end-to-end solution for home renovation and design where people can get inspired, find a professional and shop. Zeev wants to invest in companies with the potential to have a large market capitalization which is a function of the size and growth of the underlying market and the extent of the company dominance of that market. is a whopping $300 billion and if you add Europe's market it gets to $1.2 trillion.Īngel investor Oren Zeev got in early - leading its Series A and participating in its Series B, D, and E rounds. Indeed Houzz sees its target market as much bigger than mere furniture - it targets the home renovation and design industry which in the U.S. That growth is attracting Inc., which is expanding into the market." Iconiq partner Will Griffith said in a statement that "No other company has the community, technology, breadth or depth that Houzz has created." That number is expected to double to $55 billion by 2020, according to EMarketer. consumers spent $27 billion on furniture and related items. Why are investors throwing so much money at this company and is it a threat to Wayfair? It doesn't hurt that the market is big - growing at a 15.3% annual rate - and that Houzz is seen has having a unique position. To date, Houzz has raised $613.6 million - including $400 million in June from Iconiq Capital (Mark Zuckerberg is an investor) and others. The company that CEO Tatarko and president Cohen now run was worth $4.3 billion at the time of the latest fund raising, according to TechCrunch. including the UK, Australia, France, Germany, Russia, Japan, Italy, Spain, Denmark, Sweden, Ireland, Singapore, New Zealand and India. Houzz has also localized platforms in 14 countries outside of the U.S. Based in Palo Alto, Houzz has expanded to Tel Aviv, Israel London Berlin Sydney, Moscow and Tokyo. Since then Houzz has grown to serve 40 million monthly users and has more than 1.5 million home professionals in 60 categories (architects, interior designers, and landscape pros), according to a Houzz spokesperson. Moreover, Houzz connects home professionals with people improving and designing their homes - enabling consumers to engage with the professionals throughout the process. Houzz supplies design ideas - featuring interior photos supplied by architects and designers - and product purchasing services so consumers can purchase what they see. ![]() In 2009, they started Houzz, a Pinterest-style social commerce platform for home design. After spinning their wheels for a year, they scrapped what they had done. couple - Adi Tatarko and Alon Cohen - were renovating their 1950s style home and did not like the way it was going - it was hard for them to envision a design and to find the right professionals to help. Here's how Houzz got started. A Palo Alto, Calif. Is the industry big enough for both players or will the Silicon Valley upstart prevail over the Boston incumbent? But a privately-held Silicon Valley rival - valued at about $4 billion when it raised $400 million this June - is going after the same market. ![]()
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