SLIDESHOWS

Here's How the 'TikTok for Real Estate' Raised Millions From Investors - Business Insider

Apr 19, 2022
  • Playhouse is a new real-estate app where users scroll through listings like TikTok videos.
  • The app shows off video tours of homes and offers games where you can guess a home's listing price.
  • The startup just raised $2.8 million in seed funding from VC funds, including Y Combinator.

If you've ever spent hours scrolling through endless Zillow home listings or TikTok home-remodeling videos, Playhouse wants to bet that you'll do both at the same time.  

A real-estate marketplace, Playhouse bills itself as "Zillow meets TikTok." People can browse home listings as videos in a scrollable news feed — much like TikTok or Instagram Reels — click on a home video that they like, and contact the listing agent for more information.

The Y Combinator summer 2021 graduate just closed a $2.8 million seed round with participation from Agya Ventures, Gaingels, Goodwater Capital, Nomo Ventures, PKO Investments, and YC, as well as angel investors. 

Alex Perelman and Nathan Shinder, Playhouse's cofounders and two longtime colleagues, had both been struggling to stave off boredom during the pandemic. The two had previously worked together at the real-estate lending startup PeerStreet, which Perelman cofounded.  

Perelman was looking to move to the Bay Area, but he had no luck finding a home, even after spending hours and hours on real-estate sites. At the same time, he and Shinder found themselves scrolling through home-renovation videos on TikTok to pass the time. Perelman loved the authentic feel of the video house tours in contrast to the more stagnant and sterile online real-estate photo slideshows he'd been searching through. 

"It's all about the selfie videos," he said. "It's shooting things right in your house or doing a more organic walkthrough of the house." But what really stood out to him was how the real-estate agents were becoming TikTok influencers as well, showing viewers their true personalities through house tours. 

Perelman and Shinder believed there could be a market for a real-estate listing site that focused on videos from real-estate influencers and creators. After getting accepted into Y Combinator's summer 2021 batch, they doubled down on building out Playhouse and their listing catalog for the Bay Area.

They have since partnered with local real-estate agent creators, such as TeamFIT in San Francisco, to start filming original content, including design tips and house-search advice videos, and they added gamified features, such as the "Listing Price Game," where players can guess the listing price of a house on their video feed before the price is shown. 

Playhouse is available only in the Bay Area, but Perelman and Shinder plan to expand into more cities down the road. 

Check out the 11-slide pitch deck that Playhouse used to raise $2.8 million. 

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Playhouse pitch deck slide

A slide in Playhouse's pitch deck. Playhouse

Related Posts