ADOTAS — Haven Home Media was founded in 2008 by Dan Meehan, who is also the president and CEO of the company. It’s centered in what Meehan believes is an untapped vertical, the home & garden category. I asked Meehan about the company, which was privately financed but is discussing a Series A round with potential investors now.
What’s your target audience?
Audience is homeowners who are specifically interested in/researching home improvement, DIY, home design projects for their homes online. We’re the largest audience in comsCore expanded Home category.
Why did you pick this niche?
I have experience working in the home category; most recently running home/real estate sites for Scripps Networks (HGTV.com, FrontDoor.com, HGTVpro.com). I also worked with Hanley Wood, which is the dominant trade media company focused on construction. Also, the home category is a huge advertising market ($100M+ spent in 2008) and before Haven Home did not have a vertical network serving it.
What has surprised you as you have gone along?
I’m surprised on how the poor economy and housing market crisis negatively affected ad budgets in the home category. Also, how fragmented the overall online ad market is – media buyers are overwhelmed with options to spend their client’s marketing dollars. This represents a significant opportunity for a niche vertical network like Haven Home, since we are specialists and experts in one large category.
How is the company doing, stats-wise?
We had 7.3M unique visitors per month according to comScore June data- #1 in comScore expanded Home category. 35+ individual websites as publishers in the network. Revenue grew 100% from Q2 to Q3 this year and is projected to grow another 100% in 2010 year over year.
Where do you see the company in five years?
I expect to close an initial round of investment end of 2009 or early 2010 which will be used to add staff in sales and sales support, as well as fund ad targeting technology and a new content strategy. In five years, I’d expect to have grown revenue to the $10M+ per year range, own & operate numerous targeted home-related websites and blogs, and be in discussions with potential acquisition partners.