Houzz IPO: When is the home remodeling company going public?

Highlights

  • Since its inception, Houzz reportedly raised US$ 650 million in funding from venture capitalists.
  • Houzz was reportedly last valued at US$ 4 billion in 2017 after a private financing round.
  • Established in 2009, Houzz provides home renovation and design services.

The California-based home remodeling company Houzz Inc. is reportedly looking to go public in the US markets. It is likely in touch with Goldman Sachs to prepare for the initial public offering (IPO). 


Houzz could be looking to go public as the online architecture company may have got an extra boost during the COVID-19 pandemic. It was reportedly last valued at US$ 4 billion in 2017 after a private funding round led by ICONIQ Capital. 


When is Houzz going public? 


The home remodeling company could go public in 2022, and it will likely depend on market conditions. In 2021, private companies opted for an IPO worldwide, and the overall demand for pre-IPO stocks remained high. 


The official statement is yet to come from Houzz. However, reports suggest that the company is considering a public debut as it has seen a bit of resurgence after the COVID-19 pandemic. 

 

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Houzz reportedly reduced 10 per cent of its staff in 2020 due to the negative impact of the coronavirus pandemic. It also cancelled the plans of launching its furniture segment due to a downturn in the business. 

Is Houzz going for an IPO

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Meanwhile, as more people have spent their time at home during the pandemic since early 2020, the demand for remodeling services of homes is on a higher side, and that could boost the company's prospects. 


Bottom line


Established in 2009, Houzz provides home renovation and design services. It aims to connect homeowners with professionals who have the best resources, vendors, and tools required for remodeling. 


The company also offers home improvement subscriptions and sells furniture through third-party sellers. So far, Houzz has reportedly raised US$ 650 million in funding from venture capitalists like GGV Capital, New Enterprise Associates, and DST Global, among other prominent investors. 


A GM Insights report notes that the remodeling market size was valued at US$ 3.8 trillion in 2020, and it is expected to grow till 2027 at a compound annual growth rate (CAGR) of 4.1 per cent amid rapid urbanization and an expected surge in demand for home improvement projects. 


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