Opinion
The digital home management market is a winner-take-all land grab
“This is a land grab.
I mean, really, this is a race for the home.
And, you know, we haven't gone into a lot of what we do on the customized homeowner experience, but you know, this is a race for the home, and this is about putting in a tool and a device in a h…”
Disclosure
Schlegelmilch personally invested seven figures to self-fund Hinged
“It's in the seven figures.”
Disclosure
Hinged Skipped MVP Stage to Launch Full Commercial Product
“We skipped immediately through the MVP. So we, this is a full functional commercial product.”
Assertion Not checkable as stated
Hinged grew 100 percent month-over-month in its first three months
“And obviously it's been three months, so when you think about the growth of a hundred percent month over month you know, the time that these people have been on the platform has been somewhat limited”
Assertion Not checkable as stated
Schlegelmilch: 20% to 40% of Hinged homeowners actively transact
“Somewhere on the order of, on an average user basis, somewhere on the order of probably 20 to, 20% plus, 20 to 40% probably.”
Assertion Not checkable as stated
Hinged processed over $100,000 in GMV in its first three months
“More.
So the process through the platform and some of these, like for instance, a flooring install may take two to three months.
Got it.
So when you go to the three months of life, life stand for us, you know, it's been,
More than that at this point in time.
…”
Disclosure
Schlegelmilch: Hinged Is in Active VC and Strategic Fundraising Talks
“We're, we've just started actually the discussions on the capital raising side, which are going remarkably well.
some strategic players as well as some very notable finance the VC world.
So yeah,
We'll be doing that over the next few months.”
Disclosure
Hinged spent 90 percent of its initial funding on product development
“The vast majority, about 90% of that was spent on development.”
Disclosure
Hinged charges service providers a 5% platform transaction fee
“So, so we take five percent of the revenue that goes through on the platform from the service providers providing maintenance or repair.”
Assertion Not checkable as stated
Hinged operates across Fairfield and Westchester with hundreds of service providers
“Across Fairfield, Westchester County, which are the two markets that we're currently in we have a few hundred service providers, and that includes everything from, we have about 50 different categories”
Assertion Not checkable as stated
The average job value on Hinged is around $1,500
“The average is probably somewhere on the order of about 1500 dollars or so.”
Disclosure
Schlegelmilch compares his past finance compensation to MLB player salaries
“Range from, you know, back office administration to, you know, major league baseball player.”
