Home Decor e-tailer LivSpace acquires DezignUp, which is an online design community and marketplace for undisclosed amount.
LivSpace, a new online shopping destination where homeowner can decorate, furnish and design their dream home. The company has 30 to 40 designers on their roles and three to four installation partner for each city. LivSpace is selective about the designers and installation partners.
For LivSpace the choice for clear to acquire DezignUp, a dynamic design community and marketplace for consumers and design professionals which perfectly fit their criteria. LivSpace will be in position to offer even more scale and choice to homeowners to design beautiful homes. Homeowners can go to online destination where they can discover thousands of beautiful looks and number of design products for their homes with personalization, with help of hundreds of designers.
After acquiring DezignUp 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”.
After acquired by LivSpace, DezignUp Chief Executive Officer 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!”
On the occasion of first acquisition LivSpace venture investors Rahul Chowdhri, Partner of 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”.
Another venture partner of LivSpace Aakash Goel of Bessemer Venture Partners 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”.
Late last year, LivSpace received Series ‘A’ funding of $4.6 million from Jungle Ventures, Bessemer Venture Partners and Helion Venture Partners. The online furnishing segment attracts lot of competition. Urban Ladder and Pepperfry are been funded heavily by several venture capitalists.