HomeSnap App Developer Sawbuck Realty Raises $3.5 Million
Sawbuck Realty, the company behind HomeSnap has raised $3.5 million in funding from Revolution Ventures and real estate investor Robert Stewart. HomeSnap is an app that lets users access public record data and MLS information by simply taking a picture of a home. Sawbuck already had $4 million in previous funding. The company also has a real estate website that receives over 1 million unique visitors per month too.
Sawbuck CEO Guy Wolcott has described HomeSnap as a “Shazam for houses.” The iPhone uses the accelerometer, gyroscope, and GPS to determine where you are and what you are looking at. HomeSnap can determine the square feet, # of bedrooms/bathrooms, neighborhood information, and estimated price of the home that you are looking at. I bet you Zillow and Trulia are both going to look into this company and consider and make an acquisition offer.
The HomeSnap app has been downloaded around 200,000 times without any marketing. An iPad version of the app will be available in Q1 2013.
“We are building a mobile-first real estate brand for consumers,” said Wolcott as quoted by TechCrunch. “By making real estate a little fun, we hope to be the one real estate app on your phone before you’re in the market for a home. Having this pole position is valuable, and creates lots of opportunities to monetize,” he adds. “Today, we connect buyers to local agents – for which we get a referral fee. But there are lots of other opportunities beyond that.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry