Livspace acquires design community marketplace DezignUp
Bangalore, March 30, 2015:
Livspace, India’s first full stack - end-to-end - home design and decor experience online, and curated marketplace for homeowners and designers has announced its first acquisition. The company has acquired DezignUp, a dynamic design community and marketplace for consumers and design professionals. Early this year, Livspace had announced Series A funding by, Helion, Bessemer Venture Partners (BVP) and Jungle Ventures. With the acquisition of DezignUp, Livspace will offer even more scale and choice to homeowners to design beautiful homes. Homeowners can go to one online destination where they can discover hundreds of beautiful looks and thousands of design products for their homes which they can then personalize, get access to a community of hundreds of designers, and find a compelling editorial destination for home design. As part of the acquisition, the co-founders of DezignUp and its core team will join the Livspace family.
Speaking on the acquisition, Anuj Srivastava, Co Founder of Livspace said, "It is our constant endeavour to use disruptive technology, data science, and design innovation to bring the best home design experience for customers. In DezignUp, we saw a similar blend of scale, intellectual pedigree, and energy. We’re already hitting a multimillion dollar run rate in our business, and, our key reasons for acquiring them was to scale our business even faster, offer more design choice to homeowners, and work with the top quality DezignUp team. Livspace has always believed that top talent makes up a company, and Saurabh, Arpit, and Swati from DezignUp are as good as they come”.
Within a quarter of launching the business, Livspace has hit a multimillion dollar run rate. This is unprecedented in the history of internet businesses in India. There has been over 1000% growth in web traffic in the past few months. Livspace already has hundreds of interior design looks and over 25000 SKUs which are being personalized by homeowners on an everyday basis. The company has also seen employee numbers growing at over 500% since launch, with rapid hiring in areas like technology, data science, design, and go-to-market.
Commenting on the first acquisition by Livspace, Rahul Chowdhri, Partner at Helion Ventures said, "We are very excited that the Livspace and DezignUp teams are joining hands. Livspace is a fast moving company with an energetic founding team that thinks long term. We are thrilled to see great early growth in LivSpace's business and are confident that the partnership will drive further technology disruption and market innovation in the online home design market in India".
Aakash Goel, Vice President, BVP said, "The internet business is all about great teams using disruptive technology to bring scale and ease to a complicated problem like home design. Livspace has pioneered a unique approach and with DezignUp they are poised to further accelerate their continuing strong growth and market presence. We are strongly supportive of this acquisition and welcome the DezignUp team to the family".
Saurabh Jain, Co-Founder and CEO, DezignUp, said, "We are excited to join the LivSpace family. LivSpace's great technology and design capabilities when complemented with DezignUp’s community and marketplace will naturally make the combined entity much stronger and bigger. Moreover, there is a strong entrepreneurial culture in both the teams - it is great to see how both the teams are geared towards bringing 'The Design Revolution' in India and beyond!"
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