“From house to home, achieve a good life”

Founded:2015, in Nanjing, China

Category:Home furnishing & Internet

Primary office:Nanjing, China

Core technical team:Nanjing, China

Status: Private

Employees:500 (approx.)

Amount raised:CN¥1 billion [US$140 million] (2 rounds – 2018)

OVERVIEW

  • An online home furnishing platform
  • Provides owners with full-scale decoration services including design, construction, acceptance and maintenance of hard and soft clothing, including furniture, electrical appliances and art furniture

 

PERFORMANCE METRICS

  • Revenue: Not available
  • Valuation: over $1 billion (2019)

 

ACHIEVEMENTS

  • Served 100,000+ families across 18 provinces in China
  • Selected as “China Home Furnishing Internet Innovation Brand” by the second China Home Furnishing Internet Leaders’ Summit (2016)
  • Orders exceeded CN¥10 billion [US$1.4 billion] in three years since founding
  • Ranked 264th on Hurun Global Unicorn List (2019)

Sells

  • Sell whole house decoration to clients who want to save money, convenience, and want artistic themes – fully stocked home in which clients can pack their bags and move in

Channels

  • User-friendly online and mobile Apps (IOS & Android)
  • Accurate positioning of user groups and creation of customer profiles informing advertising
  • Market via social media sites, including Weibo, Wechat and Xiaohongshu

Competencies

  • A new business model: Integrates internet, sharing economy, and decoration industry
  • Integrates real estate companies, designers, furniture manufacturers, decoration companies to build a one-stop home decoration platform and a one-stop convenient solution
  • Use internet, big data, and information technology to distribute and process massive amounts of information (e.g., recommend preferred designs and products to users)
  • Virtual reality, augmented reality, artificial intelligence

Resources

Assets

  • Dramatic Reality, the self-developed artificial intelligence design platform, which improves the efficiency of interior design and solved copyright and revenue problems for established designers caused by plagiarism
  • Online & Mobile enabled platforms
  • Strategic cooperation with Junfa Group to create a joint venture (Yunnan Junfa Aijia Life Company) to facilitate entrance into southwest China market
  • Strategic partnerships with famous real estate companies to provide home decoration solutions for their owners (e.g., Central China, Modern Land Co. Limited, TEDA Group)
  • Design resource library: Numerous excellent designs from recognized designers (through “Happiness House” competition)
  • Partnerships with over 50 well-known respected home furnishing brands and furniture manufacturers (e.g., Kuka Home, Qumei) to ensures high quality
  • Partnership with Bank of China to provide users with low threshold, flexible and convenient home decoration installment service
  • Talent development – “ Ai D Plan” cooperates with Nanjing universities to select candidates for future development

Processes

  • “Clicks and Mortar” – opens 5D Home & Furnishing’s Hall to give clients a better experience
  • 5-year water and electricity warranty, 2-year decoration warranty, lifetime maintenance and upgrade service after-sales commitment
  • Connects designers’ salary with the number of times a design is used directly, enabling designers to continuously improve their designs
  • Technology support for frequent updates to innovate and improve, and provide better user experience
  • Payment in accordance to the stage of decoration – clients check the decoration in the App and if they are satisfied with the results, then pay the fees of the current stage
  • Clients manage and monitor their decoration process on the App 24/7, improving delivery efficiency and ensuring quality
  • Apply virtual reality, augmented reality and artificial intelligence to present users with virtual and vivid designs
  • Combines standardization with personalization (Including Chinese, European, American, and modern decoration styles) respecting budget and permitting clients flexibility in design combinations

Priorities

  • Put the customers first and improve user experience
  • Continue to invest in information technology, artificial intelligence research and development
  • Seek more cooperation/partnerships
  • Vision: Using sharing economy to build home decoration Internet ecosystem

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Increase demand by using scientific and technological advances to develop innovative products and services
  2. Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
  3. Increase demand by enabling users to participate in product and service development
  4. Advance product designs and high-quality customer services to increase demand
  5. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
  6. Increase demand of products and services by combining two or more resources in a way that the value created from them exceeds the sum of the value created from each resource separately