Houzz, Inc. Valuation To Fall After Latest Filing

Houzz, Inc., a Prime Unicorn Index component, recently filed a new Employee Plan Exemption Notice that went into effect on August 7th, 2024. This new plan specifies a price per share offered to employees of $3.70, which is a 40.6% drop from the company’s previous offering of $6.23 per share. This has led Houzz’s valuation by the Index to fall to $1.83 billion, after previously surpassing the $3 billion mark. The company will stay in the Index as it remains comfortably above the $1 billion threshold. 

Houzz is a leading online platform for home design and remodeling that connects millions of homeowners with designers and improvement professionals around the world. Founded in 2009, the company aims to provide inspiration and resources for all home improvement projects, from decorating a small room to building a custom home. Houzz’s software Houzz Pro helps professionals win clients and manage projects, providing efficiency to both sides of the market. With tools for 3D modeling and financial tracking on offer as well, Houzz is built to meet all home design needs.

Last raising $400 million in its Series E round back in 2017, Houzz has raised $598.24 million in total and had a peak valuation in the Prime Unicorn Index of $3.84 billion. The company has received funding from Sequoia Capital, ICONIQ Capital, Wellington Management Company, GGV Capital, Zeev Ventures, T. Rowe Price Associates, Comcast Ventures, and others.