June 16, 2019

Houzz CEO on $1.2 trillion opportunity in North America, Europe

Houzz CEO on $1.2 trillion opportunity in North America, Europe

In an exclusive interview with CNBC’s Jim Cramer, Houzz co-founder and CEO Adi Tatarko said that the trends her company’s market research department have been tracking in the space were “actually unbelievable.”

On the homeowners’ side, “the level of consumer confidence is at a high since 2000, so everybody’s expecting this year to continue the trend of the last three years and they do plan massive renovations of their homes,” she said on “Mad Money.”

“On the trade side, it’s that level of confidence,” Tatarko continued. “They do think that the business will grow at least 10 percent this year and for small businesses, the construction and design, this is pretty meaningful, 10 percent. So, very optimistic.”

That optimism has led Houzz, a data-focused platform that Tatarko described as being technology-first, to bolster its now-global business.

“Just between North America and Europe alone, we’re talking about $1.2 trillion that lives offline but [is] gradually moving, probably, online,” the CEO said. “And we are leading this transformation with technology, so it’s a huge opportunity.”

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In May, Houzz hired Richard Wong, the former vice president of finance at Microsoft’s LinkedIn, to be its first-ever chief financial officer — a testament to the e-commerce player’s levels of growth.

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