Houzz is without a doubt, in my opinion, in the Plateau of Productivity of the Hype Cycle, but let’s see why:
Gartner’s Hype Cycle describes the Plateau of Productivity as the beginning of mainstream adoption, when the real-world benefit of the technology are predictable and broadly acknowledged. By the time they reach the plateau, technologies are increasingly delivered as out-of-the-box solutions. As a technology achieves full maturity and supports thousands of enterprises and millions of users, the hype around it typically disappears and is replaced by a solid body of knowledge about the best ways to apply and deploy it.
- It has a community of over 40 million monthly unique visitors.
- The company now operates in the U.K., Australia, France, Germany, Japan, India, Italy, Spain, Sweden and Denmark. Focusing on creating the best experience for each market they operate, adapting to the specific needs of local homeowners and home professionals.
- Last year, lunched a 3D tool that allows you to visualize how a product would look in your house before you buy it. Users are 11 times more likely to buy the product after using this feature.
- The company was founded in 2009, big time investors and investment firms are loving the company and have been jumping at the opportunity to invest in it, it has now a total funding of $613 million making it valued at $4 billion
- Oren Zeev well known investor, led its Series A and participated in its Series B,D and E rounds.
- Leading Series D was Sequoia Capital
- Series E was led by Iconiq Capital and participating were also Wellington Management and GGV Capital
- Houzz in ranked number 10 in Internet Retailer’s 2018 Online Marketplaces.
- Its’ target market is a $300 billion industry in the United States and $1.2 trillion if you add the European Market.
- Will Griffith an Iconiq Capital said that “No other company has the community, technology, breadth or depth that Houzz has created.”
- Oren Zeev said “the only company providing an end-to-end solution for home renovation and design where people can get inspired, find a professional and shop. It built and introduced its two revenue channels based on the need and demand of its community. Houzz is dominant in attracting consumers and design professionals and strong in partnering with vendors. It has great momentum.”
Cozy Houzz 