Hometalk, a DIY community website with just under 10 million users and over 21 million yearly visits, today announced it has raised a $15 million expansion round directed by NFX, together with involvement from WeWork founder and CEO Adam Neumann and Altair Capital.
If you are unfamiliar with Hometalk, it’s possible to consider this website as a type of a DIY-centric Houzz, having a focus on step-by-step and visuals guides for performing jobs in your house. Those user-written guides cover all from repairing clogged sink drains to fixing drywall, in addition to more complicated home improvement jobs, and may feature text, video, and images.
It is very much a community-driven website and its 17 million registered users have created over 140,000 tutorials. In total, these are seen over 2.5 billion times in the previous calendar year, the organization says.
Until today, the website’s earnings mostly came from advertisements. Moving forward, however, the company intends to expand its own offerings and introduce new revenue flows. Unsurprisingly, that is what a great deal of this new funding will go toward, also. Those fresh revenue streams include a market, subscription support, and branded material — most of which are plausible additions for a website that currently concentrates on helping individuals improve their houses and that will likely require the ideal tools to achieve that.
“We always believed there is a massive, unmet need in the market for people to create the home they love by unlocking their creativity and giving them tools to empower this,” Hometalk founder and CEO Yaron Ben Shaul said. “The growth we have experienced demonstrates not only the product-market fit for Hometalk, but also the large opportunity we have ahead. We are most proud to have such an active, engaged community that trusts and relies on Hometalk as its go-to place for creativity.”
The business was established in 2011 and now has 60 employees in offices in NYC and Jerusalem.