Today BuildDirect unveils Home Marketplace, an online platform that finally, truly gives all the home renovators out there everything they need to get the job done: online, at the right prices and hassle-free. This is a big day for the many people who helped get us here. I want to take this opportunity to thank them, from the bottom of my heart.
Home Marketplace is the culmination of a 16-year, challenging journey – and we couldn’t have got here without investors who believed in us, our rapidly-growing family of employees who go that extra mile and, most of all, our customers and suppliers who see value in what we’re doing.
It hasn’t always been easy. Back in 1999, we wanted to fix a problem that as a former builder I knew all too well: The building industry made no sense. Consumers always seemed to be underwhelmed with the choice, service and price when doing a renovation or new build. We imagined a world where we put the power in the consumer’s hands and made the process simple.
Growing a company and dreaming big is not without its highs and lows. Early on, I literally bet my house on the first version of our platform – and couldn’t have done that without the support of my family. In that sense, BuildDirect’s future success was a labor of love.
When we turned on the BuildDirect platform for the first time, it worked … even better than we hoped. It wasn’t just an online version of a big box home improvement store. Instead, we were using real-time data points that no one else was seeing, giving suppliers the tools they needed to sell to a global marketplace and giving customers a better price and better selection than they could get through traditional retail.
But that was just the start. Two years ago, we saw that things were taking off and the supply-end of our platform wasn’t going to keep up with burgeoning demand. We needed to find a more efficient way to get building supplies from around the globe to customers’ front doors. So we invested $50 million to innovate our technology to an entirely new level.
Today, we’re proud to unveil the results: the new BuildDirect Home Marketplace.
Getting out of the way, so customers and suppliers get a win-win solution
For our customers, Home Marketplace can showcase a near infinite selection of products. You can compare home improvement products from around the world without having to shop around. New technology means buyers can quickly browse products and check reviews, while getting prices up to 50 percent lower than traditional retail. Plus, we have a customer support team to assist at every step of the home improvement journey.
Meanwhile, suppliers get a streamlined self-service model that lets them feature their products faster than ever before, to a much larger customer base. Our predictive analytics tools ensure that sellers can pinpoint the best market for their products and sell more than ever before.
Right now, too many people are still trapped in an old, inefficient and frustrating cycle when it comes to home renovation. Most renovators have to visit at least three home improvement stores to get a project done, and more than half end up compromising because they can’t find what they need. The BuildDirect Home Marketplace offers a superior alternative. You get a vastly expanded selection from the world’s top suppliers, an easier and more convenient online shopping experience and – most importantly – a better way to build and renovate the home of your dreams.
And this is just the beginning. We foresee hundreds of thousands, and soon millions of products available on the BuildDirect Home Marketplace in the coming years. This week, we’re known as a platform for things like flooring and decking. In the near future, we’ll be known for much, much more. We’re fundamentally changing how people shop for home improvement products and are moving the industry into the next millennium. We think you’ll be excited by what’s in store.