As the home décor site Houzz pushes hard for an E-Commerce expansion, it might be able to wallpaper with Benjies now that it’s picked up $165 million in new funding.
“Sequoia Capital led the round of financing, which closed earlier this year and also brought in new investors DST Global and T. Rowe Price, Chief Executive Adi Tatarko said in an interview,” reported The Wall Street Journal. “The funding values the company at more than $2.3 billion. In a new section of its site called Houzz Marketplace, the company will play host to a selection of bathtubs, vanities, backsplashes and other home décor items being sold by thousands of online retailers. The transactions will all take place on the Houzz site and the company will keep a 15 percent cut of each sale, Tatarko said.”
Beyond selling ads on its site, Houzz collects an annual fee from architects, designers and other home contractors for using various site tools to help them assist home owners and apartment dwellers.
The company is also looking beyond the U.S.. Houzz “has five offices around the world, including its Palo Alto, Calif., headquarters, and those in London, Berlin, Sydney and Orange County, Calif. Tatarko says he wants to further expand in Europe and Asia. Houzz previously raised $48 million from investors including Sequoia, Kleiner Perkins Caufield & Byers and New Enterprise Associates.”