Houzz News
8 articles
growth-positive
The Houzz founder spoke at Mind the Tech NY about what it takes to build a lasting business and overcome startup challenges.
The article discusses Houzz, a company founded by Adi Tatarko and Alon Cohen, which has grown significantly since its inception in 2009. Houzz operates in the B2B2C space, providing a platform for home design and renovation. The company boasts a community of 17 million users, including 3 million professionals, and reports a 40% average revenue growth in the second year of product use. Recently, there was a management change where Tatarko switched roles with her husband, with him becoming CEO and her taking on the role of chairwoman. The company is considering an IPO but remains a private entity focused on long-term growth. Additionally, Tatarko has been active in combating antisemitism on U.S. campuses.
Management Changes
growth-negative
Houzz lays off nearly 100 worldwide
Houzz, a US home design website company, is set to lay off nearly 100 employees, about 8% of its workforce. The company had previously laid off employees in 2019 and 2020. Houzz has raised $663 million from investors and was planning an IPO in October 2021. However, due to the current state of the US capital markets and luxury real estate market, the IPO is likely to be delayed. Houzz had also considered launching its own furniture brand, but the plan was shelved. The layoffs are attributed to macroeconomic conditions in the home improvement and interior design industry.
Layoffs
Houzz hires Goldman Sachs to prepare for IPO - Silicon Valley Business Journal
growth-positive
Gen Xers drive home renovations, Houzz survey finds
The article discusses the findings of the annual Houzz & Home UK survey, which reveals that Gen Xers accounted for the highest percentage of renovating homeowners in 2019. The survey also shows a decline in median spend on home renovations in 2019 compared to the previous year. The impact of the COVID-19 pandemic on planned renovation activity remains uncertain. The planning phase for renovations takes as long as the construction phase, with kitchens requiring the longest planning time. The majority of homeowners hire professionals for their renovation projects, with electricians and plumbers being the most common professionals hired. Cash from savings is the most common form of payment for home renovations. Home offices and indoor light fixtures were popular renovation projects and technology purchases, respectively. The survey was conducted in early 2020 before the pandemic.
Customers
growth-positive
Houzz survey shows return to pre-pandemic business levels - Furniture Today
A survey by Houzz, an online home design platform, shows that business indicators in the home renovation and design industry have returned to pre-pandemic levels. The survey reveals an increase in new project inquiries in Q2, indicating that homeowners are preparing to renovate and are adapting to new safety guidelines. The coronavirus pandemic had a significant impact on small businesses in the architectural and design services sector, causing project delays, fewer inquiries, and cancellations. However, businesses in the industry have responded by offering video consultations, implementing safety measures, and adopting online invoicing and payments. Despite challenges such as material availability and labor shortages, more businesses have a positive outlook for 2020. The survey was conducted between June 27 and July 10.
CustomersPartners
growth-positive
Houzz Launches Houzz Pro Business Management Software
Houzz Inc. has launched Houzz Pro, an all-in-one software-as-a-service (SaaS) solution for home design and renovation professionals. The software aims to help professionals run their businesses profitably and efficiently, especially during the COVID-19 pandemic. It combines marketing features with the Ivy by Houzz business management software, allowing designers to manage projects and clients from anywhere. The launch of Houzz Pro is seen as a growth-positive move for the company. The article mentions that existing Houzz Pro subscribers will receive the software as part of their subscription. The software includes features such as branded proposals, online payments, lead management, and enhanced search functionality. Houzz has also expanded its suite of marketing tools for subscribers. Subscription packages start at $50 per month for new subscribers.
Customers
growth-positive
Houzz acquires IvyMark to expand into services for designers
Houzz has acquired IvyMark, a business management tools and community platform for interior designers, for an estimated amount between $30 million and $40 million. The acquisition will allow Houzz to expand its services for interior designers and provide more paid services around its freemium model. IvyMark, which had raised just under $3 million in funding, will continue to operate in Israel while its California team will move to Houzzs offices in Palo Alto. The move is part of Houzzs strategy to monetize its large user base and engage with new tools and features. The article does not mention any specific customers or partners.
Customers
growth-positive
Houzz Acquires Israeli Startup IvyMark For Reported $40M
Israeli-founded interior design company Houzz has acquired Israeli startup IvyMark, a business management tool for designers and vendors. The acquisition amount is undisclosed but estimated to be between $30-40 million. Houzz aims to provide the best experience for home renovation and design by helping design professionals manage their business. IvyMarks software and community will be integrated into Houzzs platform. IvyMark had previously raised $2.9 million from investors including Disruptive VC, Pitango, and NFX. The acquisition will allow IvyMark to continue modernizing the way interior designers do business and open new opportunities.
PartnersAcquisition
