Successfully completed TSX Venture Exchange
RTO values BuildDirect at $160M
VANCOUVER, BC, Aug. 18, 2021 /CNW/ - BuildDirect.com
Technologies Inc. (TSXV: BILD) ("BuildDirect" or "Company") is
pleased to announce that it has begun its first day trading as a
public company, listed under the ticker symbol "BILD" on the TSX
Venture Exchange (the "TSXV"). As an innovative platform for
purchasing and selling building materials online, BuildDirect is
poised to help accelerate the rapid transformation of the home
improvement products industry and how professionals and homeowners
alike, approach their home improvement projects.
"Our mission has been to transform the home renovation industry
through an unmatched set of offerings to serve flooring customers
better than anyone else in the industry, with a particular focus on
the Pro segment," said Dan Park, CEO
of BuildDirect. "BuildDirect is an innovative technology platform
for the home improvement industry, bringing a differentiated
omni-channel offering to the lucrative and underserved market of
home improvement professionals. We are excited to contribute
to a paradigm shift in the industry and drive this impact forward
for years to come."
BuildDirect's growth strategy is centered on enhancing the home
improvement industry, using technology to give customers a better,
more simplified experience. BuildDirect's platform is positioned to
quickly deliver a full assortment of building materials to a
jobsite or to the home with a focus on the end-to-end floor buying
experience through its easy-to-use website www.builddirect.com,
best in industry selection breadth, direct from manufacturer
pricing, proprietary heavyweight supply chain, as well as hands-on
and knowledgeable customer support.
Following a year of significant growth in the home improvement
products industry driven by a shift towards investment in the home,
as well as record breaking online growth in building material
purchases, in 2020 BuildDirect saw online building material sales
grow more than 30% year-over-year.
An addressable market of approximately $71 billion in the U.S. flooring segment provides
significant runway for growth. This large and growing market,
combined with a strategy of anchoring BuildDirect's presence in
local markets by acquiring successful brick and mortar operations,
provides the Company an opportunity to consolidate a fragmented
supplier and customer base. This DiPhy (digital + physical) growth
strategy – pivoting from e-Commerce to an expansive omni-channel
offering combines its technology and heavyweight delivery platform
with the localized relationships, service and product knowledge of
the established independent retailers which will drive growth to
better serve the Company's customers.
"Becoming a publicly traded company is an important milestone
for BuildDirect, however, we believe our best days are ahead of us
as we leverage our digital platform, expand our reach into bricks
and mortar independent retailers and capture B2B professionals,"
added Dan Park. "We've been doing
this for a long time, but the future has never looked so bright for
the home improvement industry and for BuildDirect."
Today's news follows BuildDirect's announcement on August 6, 2021, regarding the Company's filing
statement and receipt of conditional approval.
About BuildDirect
BuildDirect (TSXV: BILD) is an
innovative technology platform for purchasing and selling building
materials online. The BuildDirect platform connects homeowners and
home improvement professionals in North
America with suppliers and sellers of quality building
materials from around the world, including flooring, tile, decking
and more. BuildDirect's year-over-year growth, proprietary
heavyweight delivery network, and digital reach have served to
solidify its role as a ground-breaking player in the home
improvement industry. For more information, visit
www.BuildDirect.com.
Forward-Looking Information:
This press release contains statements which constitute
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities laws (collectively,
"forward-looking statements"), including statements regarding the
plans, intentions, beliefs and current expectations of the Company
with respect to future business activities and operating
performance. Forward-looking statements are often identified by the
words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" or similar
expressions. These statements reflect management's current
beliefs and expectations and are based on information currently
available to management as at the date hereof.
Forward-looking statements in this press release may include,
without limitation, statements relating to the Company's leadership
as a marketplace for purchasing and selling building materials
online; the potential rapid transformation of the home improvement
products industry; other paradigm shifts; how professionals and
homeowners approach their home improvement projects; the Company's
ability to increase momentum, enhance its e-commerce capabilities,
accomplish strategic growth and expansion, influence industry and
assert stability in the industry through the access, variety,
convenience and efficiency offered through our digital platform;
and the Company's positioning as a much needed access point and
resource for retailers, contractors, professionals and
homeowners.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause
actual results, performance or achievements to differ materially
from the results discussed or implied in the forward-looking
statements. Among those factors are changes in consumer
spending, availability of mortgage financing and consumer credit,
changes in the housing market, changes in trade policies, tariffs
or other applicable laws and regulations both locally and in
foreign jurisdictions, availability and cost of goods from
suppliers, fuel prices and other energy costs, interest rate and
currency fluctuations and changes in general economic, business and
political conditions. These forward-looking statements may be
affected by risks and uncertainties in the business of the Company
and general market conditions, including COVID-19.
These factors should be considered carefully and readers
should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press
release reflect the Company's expectations, estimates or
projections concerning future results or events based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made, the Company cannot
assure readers that actual results will be consistent with these
forward-looking statements. These forward-looking statements are
made as of the date of this press release, and BuildDirect assumes
no obligation to update or revise them to reflect new events or
circumstances, except as required by law.
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SOURCE BuildDirect.com Technologies Inc.