档案库 · 电商与平台 · 战略决策 · 2014–2025
OHouse的照片电商化之路：室内帖子变成超过3000亿韩元的平台
Bucketplace押注室内照片帖子能推动用户购买家具、预约配送和聘请施工方；2025年销售额达到3215亿韩元。
Bucketplace (OHouse / Today's House)
做的是什么生意
Bucketplace operates OHouse (Today's House), a Korean interior platform that grew from a photo-sharing community into commerce and home services: product shopping, next-day furniture delivery and installation, an interior-construction marketplace, building-materials distribution, offline lounges and AI-assisted space planning.
启动资金：About $261 million raised through May 2022, including a $70 million round in November 2020 at around an $890 million valuation and a $182 million Series D at roughly a $1.4 billion post-money valuation, from investors including SoftBank Ventures Asia, Vertex Growth, Bond Capital, BRV Capital Management, Korea Development Bank and Mirae Asset Capital.
起因
Bucketplace was founded in 2014, and the OHouse app launched in 2016 as a community where interior designers and home-improvement hobbyists posted photos of their remodeling projects; readers browsed the posts and bought the items directly, a model TechCrunch compared to Houzz. Co-founder and CEO Jay Lee recalled that 'eight years ago, OHouse was simply a community of people sharing interior design content.' The company added next-day furniture delivery in June 2021 and acquired Singapore-based online furniture platform HipVan shortly before its 2022 round.
经过
In May 2022 Bucketplace raised a $182 million Series D at roughly a $1.4 billion (about 2 trillion won) post-money valuation to add AR to the app, hire technology staff and enter Japan, Southeast Asia and the US. Over the following years it pushed from furniture commerce into the construction journey: it built the OHouse Standard program of standardized contracts and quotes with about 400 partner firms, added a building-materials distribution business, launched its own furniture brand and designer-label investments, opened offline lounges, and expanded premium delivery through a large logistics center in Yeoju, Gyeonggi Province.
结果
The 2025 audit, disclosed in April 2026, shows sales of ₩321.5 billion — up 11.7% from ₩287.9 billion in 2024 and the first year above ₩300 billion — extending double-digit revenue growth to 11 consecutive years, with interior-construction transactions up more than 3.5 times. Bucketplace reported its first annual profit in 2024, then swung to an operating loss of about ₩14.7 billion in 2025 while investing in construction, offline expansion, Japan and AI, and says it remained debt-free with more than ₩240 billion in cash at the end of 2025.
背景
Bucketplace成立于2014年，于2016年推出OHouse，最初是一个社区，室内设计师和家装爱好者发布家居照片；用户浏览图片并购买所见之物，TechCrunch将其与Houzz相提并论。截至2022年5月，公司称月活用户达1000万，应用在韩国累计下载超过2000万次。
其赌注在于这个内容社区能成为韩国的端到端家庭平台。Bucketplace在2021年推出次日家具配送，收购新加坡的HipVan，在2022年5月完成1.82亿美元D轮，估值约14亿美元，并从电商扩展到施工：通过OHouse Standard项目提供标准化合同和报价，分销建材，推出自营家具品牌，开设线下体验馆和大型物流中心。
结果累积：2025年销售额达到3215亿韩元，比2024年的2879亿韩元增长11.7%，首次突破3000亿韩元，使两位数增长延续11年。室内施工交易量同比增长超过3.5倍，公司2024年首次实现年度盈利，随后在2025年因投资施工、线下扩张、日本和AI而出现约147亿韩元营业亏损。
截至2026年4月，公司仍为私有且无债务，持有超过2400亿韩元现金，并称2026年第一季度营收增速是上年同期的两倍。它面临的关键问题是施工和日本业务能否将内容到电商的漏斗转化为持久利润。
这件事要成立，得有什么
- 用户真实房间的照片免费充当商品展示，因此OHouse获取购物者的成本只占家具电商的一小部分。
- 每一次扩展——次日配送、装修公司列表、标准化施工合同——都让应用涵盖更多家居项目环节，提高了用户转向竞品的成本。
- 1.82亿美元D轮、约14亿美元估值为其赢得了建设和建设物流的时间，避免纯价格竞争者将家具转售商品化。
- 仅靠照片社区将面临Coupang式价格战的风险；OHouse的应对之策是施工和配送，这些领域服务质量与价格同样重要。
可借鉴之处
社区内容能低成本创造需求，但护城河形成于平台掌控交易的环节；OHouse的优势随着它加入配送、安装和施工承包而增长。
后续进展
截至2026年4月，Bucketplace的OHouse仍为私有：其2025年审计报告显示销售额创纪录达3215亿韩元，较2024年的2879亿韩元增长11.7%，连续11年实现两位数增长，施工交易量增长超过3.5倍。在2024年首次年度盈利后，2025年因投资施工、线下体验馆、日本和AI而录得约147亿韩元营业亏损；公司表示仍无债务，现金超过2400亿韩元。内容到电商的赌注现在横跨电商、配送、承包、建材和线下门店，盈利仍是悬而未决的问题。
资料来源
- South Korea's OHouse lands $182M to add AR to home improvement app
- Ohouse tops 300 bn won in revenue on construction growth
- Today's House Surpasses 300 Billion Won in Revenue... Accelerating Growth with AI-Based 'End-to-End Space Solutions'
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