Deal Decor Launches and Inks $1.2M Funding
SAN FRANCISCO, CA, Deal Decor announced today its new e-commerce site, DealDecor.com, and has raised $1.2 million in seed funding from angel investors.
SAN FRANCISCO, CA, Deal Decor announced today its new e-commerce site, DealDecor.com. By harnessing the power of online group buying, Deal DÃ©cor offers consumers quality furniture without the astronomical price tag. Deal DÃ©cor is disrupting the $80 billion dollar furniture industry by eliminating all middlemen and working directly with factories to create the most efficient supply chain. Shoppers visiting DealDecor.com will find the same popular styles - oftentimes even built in the same factories - as retailers such as Pottery Barn and Crate and Barrel, for up to 70 percent less. Deal Decor has raised $1.2 million in seed funding from angel investors, including Rick Thompson, Founder of Playdom and Flycast; Ed Cluss, former CEO of InfoGear (developer of the the original iPhone); and Mark Stevens, Managing Partner, Sequoia Capital.
"The success of companies like Gilt and Warby Parker has proven that consumers are savvy, decisive and receptive to new ways of meeting their needs," says Ed Cluss, chairman and investor in Deal Decor, as well as companies including Playdom and Funzio. "With direct experience at large retailers including Target and Home Depot, Deal Decor's founding team has deep relationships with the factories producing furniture for hundreds of retailers, as well as unmatched understanding about logistics surrounding furniture sourcing, production and delivery. Deal Decor is demystifying furniture buying and bringing the most sought-after styles into affordable reach."
A recent article in TheNextWeb described a "new movement in e-commerce" that is "focused on the vertical integration of manufacturing, branding, and distribution-while upending the traditional retail model in the process." Most retailers offer the same products 365 days a year, carry inventory, drop ship from warehouses in the middle of the country, and work through a middleman or two - all at the buyer's expense. Deal Decor, on the other hand, is vertically integrated from customer to factory. Not only does the company cut out the middlemen, but it also sources and monitors the products, handles the logistics and delivery, and markets directly to consumers, saving them hundreds, or in some cases, thousands, of dollars.
"Between aggressive salespeople, the lack of assurance you are getting the best price and the time it steals from other weekend activities, people often find furniture shopping dreadful," says Gregory Lok, co-founder and CEO of Deal Decor. "Free time is at a premium, and despite a lift in the economy, we are definitely seeing people continue to be extremely pragmatic about their purchases. Furniture is one of those consumer goods where styles have a longer lasting shelf life. People expect to replace their wardrobe and electronic devices; however, furniture purchases are less frequent. As a result, people oftentimes accept the steep prices for home staples like sofas and dining tables - Deal Decor is here to change that."
With today's launch, consumers no longer have to shop around to find the best prices on popular styles of home furnishings. Deal Decor instills confidence in consumers through the idea that this is a new, smarter way to buy furniture. Deal Decor has the same expertly-crafted, quality furniture seen at large retailers; and for each piece of furniture, provides direct price comparisons with other home furnishing companies. Shopper assurance is paramount and at the core of Deal Decor's shopping experience. Large libraries of videos and beautiful photographs will help introduce shoppers to each piece. In addition, Deal Decor will have a few locations in each market, including coffee shops, that will display the furniture so that customers can see, touch and imagine the pieces in their own homes.
How Deal Decor Works
Consumers visit http://www.dealdecor.com to browse the current deals without having to sign in or provide an email address. Deal Decor leverages the collective bargaining power of consumers by aggregating individual purchases from a geographical region into a single order placed with a factory. Three to five new pieces of furniture are launched every week and available for ten days. Deal Decor must sell enough of each item in one geographical location to fill a shipping container. Once a container of product is sold, a furniture deal is activated, and an order is sent to the factory. During the manufacturing process, Deal Decor monitors production and inspects for quality. When the products are completed, the factory ships the container directly to the local city. Click here to view a 90 second video illustrating how Deal Decor works.
Deal Decor has raised $1.2 million in seed financing from a decorated list of entrepreneurs and investors including: Rick Thompson, Founder of Playdom and Flycast; Ed Cluss, former CEO of InfoGear (original iPhone); Mark Stevens, Managing Partner, Sequoia Capital; Brad Koenig, former Managing Director, Goldman Sachs; Shawn Bercuson, former VP, Business Development, Groupon; MJ Elmore, Managing Partner Institutional Venture Partners; Russ Fradin CEO of Dynamic Signal; Saeed Amidi, CEO, Plug and Play Tech Center; and Jim Mclean, Venture Partner, Crosslink Capital.
Deal Decor is currently running its first deal for California residents. To view locations where the furniture can be seen in-person and to meet the founding team, please visit dealdecor.com.
About Deal Decor
Deal Decor is disrupting the $80 billion furniture industry by harnessing the power of online group buying to offer expertly crafted, quality furniture-without the astronomical price tag. Working directly with factories and eliminating the middleman, Deal Decor has created the most efficient and innovative supply chain and passed along these dramatic savings to savvy shoppers. With direct price comparisons to other home furnishing companies, and beautiful, detailed photos and videos of each product, Deal Decor is demystifying furniture buying and bringing the most sought-after styles into affordable reach. Deal Decor instills confidence in consumers that they have truly found the smarter way to buy furniture.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about