Houzz Announces Strategic Partnership with Times Bridge
Strategic alliance with the investment unit of The Times Group, India’s largest media company, will support Houzz as it scales in one of world’s fastest-growing Internet and real estate markets
Houzz Inc., the world’s leading platform for home remodeling and design, today announced a strategic partnership with Times Bridge, the investments business of The Times Group, India’s oldest and largest media company. As part of its investment, Times Bridge will integrate Houzz content into all of The Times Group’s digital properties, including the flagship Times of India, helping more homeowners and home professionals across India discover the Houzz platform.
“From its unique design aesthetic and products to its professional talent and expertise, India has become an important part of the global design language Houzz is facilitating,” said Adi Tatarko, Houzz CEO and cofounder. “We’re delighted to partner with The Times Group and connect even more Indian homeowners, home design enthusiasts and home professionals with our global platform.”
Since Houzz launched a dedicated platform for India in January 2017, its local community of homeowners and home design enthusiasts has grown 50 percent. The Indian professional community on Houzz has also grown exponentially, to more than 80,000 active home professionals in over 60 categories, including architects, interior designers and product designers.
Rishi Jaitly, CEO of Times Bridge said, “Times Bridge’s mission is to bring the world’s best ideas to India and share India’s best insights with the world. In the last eight years, Houzz has proven itself as an iconic company. We look forward to harnessing the unmatched assets of Times Bridge and The Times Group to ensure Houzz’s platform empowers users and professionals alike across the length and breadth of a rapidly-changing India.”
In June 2017, Houzz announced the close of a $400 million Series E financing led by ICONIQ Capital, with participation from Wellington Management Company, Sequoia, Zeev Ventures and GGV Capital, among others, to accelerate the growth of the company’s platform and business around the world. Since July 2014, Houzz has launched localized platforms in 14 countries outside of the U.S. to meet demand from both homeowners and home professionals. In 2013, prior to the company’s international expansion, less than 30 percent of new Houzz users came from outside the U.S. Today, over 50 percent of new Houzz users come from outside the U.S.