![]() ![]() Houzz, which has raised over $650 million in funding to date, counts the likes of Sequoia Capital, New Enterprise Associates, GGV Capital and DST Global among its prominent backers. Its business later boomed as more users turned to it. ![]() Houzz was forced to lay off 10% of its staff at the onset of the pandemic, citing the impact on small businesses in the home renovation sector that form its core paid-user base. To be sure, a Houzz IPO could face headwinds, as more people return to the office as the pandemic subsides, while soaring inflation makes remodeling more expensive. Pinterest Inc has attracted the acquisition interest of PayPal Holdings Inc, which made a $45 billion offer for the online scrapbook and photo-sharing website, sources said on Wednesday. Houzz is among a spate of internet companies that benefited from people staying at home during the pandemic and shopping online. ![]() It offers subscriptions for those projects, and also sells furniture using third-party sellers. Didi IPO : Chinese ride-hailing company had its IPO on 30 June 2021, raising 4.4bn in the process. Wise shares opened at 800p and were up 10 by the end of its debut trading day, giving it a valuation of over 8bn. According to Reuters, Houzz has a valuation of approximately. 2021, when it hired Goldman Sachs to help prepare the company for a listing. Houzz and Goldman Sachs declined to comment.įounded in 2009 by Adi Tatarko and Alon Cohen, Houzz operates a marketplace that is used by home renovation professionals to find home remodeling and improvement projects. The British company has experienced rapid international growth over the past couple of years. The most recent update on the company’s IPO was in Oct. They asked not to be identified because the matter is confidential. “The killer story is a great scientist with a great idea, but for sustained success you have to build systems to manage the information and the data,” he says.The sources cautioned that the timing of the IPO is subject to market conditions. So he was relieved to sign on with Benchling just over a year ago, even though, as he says, it’s “not an insignificant expense” for a startup. Jason Ryder, cofounder and chief technology officer of Joywell Foods, which makes foods based on naturally sweet proteins, has been down that path before. “The alternative to Benchling is often building it all yourself.” “There is no one-stop shop,” says Sana Biotechnology CEO Steve Harr, whose firm is a Benchling customer. Academic researchers continue to get the product for free, while companies pay anywhere from $15,000 for a small biotech to millions for a large corporation. These firms use Benchling’s cloud-based platform to help them track, measure and forecast their scientific work. ![]() Today, Benchling counts 450 companies as customers, including Regeneron, Gilead, Sanofi and Corteva Agriscience. “Foundational technologies on biology are being developed, similar to the way they were on the traditional technology side,” says Sequoia’s Patrick Fu, who led the investment. As the company has grown, it’s added new products, including a data and analytics dashboard that helps its customers gain both scientific and operational insights. But by last summer, the San Francisco-based company became one of 25 to make the cut for Forbes’ Next Billion-Dollar Startups list as the coronavirus pandemic put the spotlight on biotech.Īnnual recurring revenue surpassed $50 million last year, double the previous year, and is expected to double again this year. In the early days, it wasn’t clear what the company’s value might be, and there was a lot of skepticism about software focused on just one vertical. ![]()
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