One of my closest friends, who also happens to be in the same industry, is currently testing out a new construction marketplace idea. It’s called Tenderlet and it’s an online platform that helps your average house or condo owner “find the best local construction professionals at the lowest prices.”
Right now it’s just a basic website, but he is obviously thinking that it could grow into a far more robust online marketplace.
The way it works is real simple:
You tell Tenderlet about your construction job – everything from a water damaged ceiling repair to new hardwood flooring.
Tenderlet goes out and gets multiple quotes on your behalf (just like how the professionals do it).
Then Tenderlet comes back to you with at least 3 quotes and a recommendation. It’ll even handle scheduling and payments.
Eventually he’s imagining that there will be a mobile app, reviews for the construction professionals, and a location dimension, which can make all the difference, particularly for smaller jobs. But you have to start somewhere.
I think he’s on to something here. I know I want to use it. So I would encourage you to check out tenderlet.com and give it a try. If you have any feedback about the idea, I am sure he would love to hear from you in the comment section below.
Earlier this week it was announced that home remodeling site Houzz raised a $150 million Series D round, which would value the company at around $2.3 billion, post-money. Meaning, that’s the value of the company including the money it just raised.
If you’ve never used Houzz before, it’s a platform that offers design inspiration for remodeling projects, products for sale, and a directory of home professionals. The company makes money by selling products through its online storefront and through premium accounts for the pros.
The perceived value of Houzz likely stems from the fact that it provides a platform to address the estimated $300 billion home improvement market. But what I see as really exciting is the potential for Houzz to bring even greater transparency to the whole renovation and construction marketplace.
Already Houzz has started to aggregate data on average renovation costs throughout the US. But there’s a lot more they could do. Professional reviews and design inspirations are great, but I can imagine them “moving up the stack” to start acting as a king of virtual general contractor that manages more of the actual renovation process.
And that would be pretty powerful.
