• Login | Cont nou

Houzz reportedly raising $150M, boosting its valuation to $2.3B

07 June 2014, 08:00

Looks like home-remodelling and design site Houzz is upsizing. Filings that the startup made at the end of May in Delaware, uncovered by the folks at VCExperts, indicate that it is raising a Series D round of $150 million, at a post-money valuation of just over $2.3 billion on a fully-diluted basis. What’s striking is that the documents show that in its last round, in January 2013 when it raised $35 million, Houzz was valued at up to $325 million — rising over seven times in the last 17 months. That’s valuation growth not unlike the rapid rise we’ve seen in the real estate market in some cities. The full document is embedded below. The basic details indicate that this fourth round has 2,002,039 shares issued with the price per share at $74.9236, working out to just under $150 million for the Series D. As a point of comparison, the price per share in the Series C was $13.3438. The fully-diluted number of shares is 31,000,000. It appears that the deal is closed already, according to Justin Byers, the director of business intelligence at VCExperts. “Once these are filed, the deal should be done,” he says. “These filings are changing/updating their structure as to what they authorize to issue for shares.” There could, however, still be more to come in the round. What the documents do not tell us is who is behind the investment, nor how it will be used. We’ve reached out to Houzz for details on that front, but a spokesperson says…

Sursa:

Inapoi la stiri