Overview:
AptDeco (aptdeco.com) is a rapidly-growing online marketplace that enables consumers to easily buy and sell furniture. AptDeco links buyer and seller, facilitates the transaction, and coordinates pickup and delivery, receiving a transaction fee plus a mark-up on the delivery charge. They are currently based in New York City, Philadelphia, San Francisco and expanding. AptDeco is led by Reham Fagiri (CEO) and Kalam Dennis who both noted the difficulty of re-selling and purchasing furniture while moving apartments. As Reham puts it "In the U.S., people move a lot. The average person moves nine times after the age of 18 — so that’s a lot of moves, and whether they’re moving to a bigger place they’re going to need to buy furniture or update their furniture, or they’re consolidating and moving to a smaller space, getting married… they’re going to have to get rid of furniture, so there’s a need for this. Especially now [in the sharing economy age] — people are just more comfortable sharing their possessions with other folks.”
Investment Rationale:
We believe AptDeco leverages the sharing economy to simplify the process of buying and selling furnishings and elevates it to an experience built on trust. As the NYC furniture market is valued at as much as $2B, and 40% of New Yorkers move once every 5 years we believe AptDeco is positioned to facilitate this mobile population and create a more positive experience for movers.