<p>Houzz Inc, the US online home remodeling platform that capitalised on the boom in renovations during the Covid-19 pandemic, has hired Goldman Sachs to prepare for an initial public offering, people familiar with the matter said.</p>.<p>Houzz is aiming to go public early next year, the sources said. The Palo Alto, California-based company was last valued at about $4 billion in a private funding round led by ICONIQ Capital in 2017.</p>.<p>The sources cautioned that the timing of the IPO is subject to market conditions. They asked not to be identified because the matter is confidential.</p>.<p>Houzz and Goldman Sachs declined to comment.</p>.<p>Founded in 2009 by Adi Tatarko and Alon Cohen, Houzz operates a marketplace that is used by home renovation professionals to find home remodeling and improvement projects. It offers subscriptions for those projects, and also sells furniture using third-party sellers.</p>.<p>Houzz is among a spate of internet companies that benefited from people staying at home during the pandemic and shopping online. Pinterest Inc has <a href="https://www.deccanherald.com/business/paypal-looking-to-buy-pinterest-in-39-billion-deal-1042514.html" target="_blank">attracted the acquisition interest</a> of PayPal Holdings Inc, which made a $45 billion offer for the online scrapbook and photo-sharing website, sources said on Wednesday.</p>.<p>To be sure, a Houzz IPO could face headwinds, as more people return to the office as the pandemic subsides, while soaring inflation makes remodeling more expensive.</p>.<p>Houzz was forced to lay off 10% of its staff at the onset of the pandemic, citing the impact on small businesses in the home renovation sector that form its core paid-user base. Its business later boomed as more users turned to it.</p>.<p>Houzz, which has raised over $650 million in funding to date, counts the likes of Sequoia Capital, New Enterprise Associates, GGV Capital and DST Global among its prominent backers.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Houzz Inc, the US online home remodeling platform that capitalised on the boom in renovations during the Covid-19 pandemic, has hired Goldman Sachs to prepare for an initial public offering, people familiar with the matter said.</p>.<p>Houzz is aiming to go public early next year, the sources said. The Palo Alto, California-based company was last valued at about $4 billion in a private funding round led by ICONIQ Capital in 2017.</p>.<p>The sources cautioned that the timing of the IPO is subject to market conditions. They asked not to be identified because the matter is confidential.</p>.<p>Houzz and Goldman Sachs declined to comment.</p>.<p>Founded in 2009 by Adi Tatarko and Alon Cohen, Houzz operates a marketplace that is used by home renovation professionals to find home remodeling and improvement projects. It offers subscriptions for those projects, and also sells furniture using third-party sellers.</p>.<p>Houzz is among a spate of internet companies that benefited from people staying at home during the pandemic and shopping online. Pinterest Inc has <a href="https://www.deccanherald.com/business/paypal-looking-to-buy-pinterest-in-39-billion-deal-1042514.html" target="_blank">attracted the acquisition interest</a> of PayPal Holdings Inc, which made a $45 billion offer for the online scrapbook and photo-sharing website, sources said on Wednesday.</p>.<p>To be sure, a Houzz IPO could face headwinds, as more people return to the office as the pandemic subsides, while soaring inflation makes remodeling more expensive.</p>.<p>Houzz was forced to lay off 10% of its staff at the onset of the pandemic, citing the impact on small businesses in the home renovation sector that form its core paid-user base. Its business later boomed as more users turned to it.</p>.<p>Houzz, which has raised over $650 million in funding to date, counts the likes of Sequoia Capital, New Enterprise Associates, GGV Capital and DST Global among its prominent backers.</p>.<p><strong>Watch latest videos by DH here:</strong></p>