10 Things You Didn’t Know about SmartZip

With the advances in technology, particularly artificial intelligence, the use of predictive technology is becoming increasingly common. This has now spread to the real estate industry, where many startup companies have marketed themselves to have solutions for real estate agents. This approach is not limited just to the United States but has also grabbed international interest. SmartZip is just one of these companies that has created a predictive software platform. Here are 10 things you may not have known about the high tech business.

1. SmartZip is a private company.

Avi Gupta is the President and CEO of the company located just outside the city of San Francisco. Gupta claims his hometown as Bangalore, India, where he has extended the reach of his business. It appears his long term plan is to use the United States as a base from which he can create a global network of sales and marketing teams.

2. The company recently had obtained equity funding to continue its business.

That funding, a $5.6 million infusion of cash, was provided in March 2017. This may be an indication of company weakness, as other items in this list may point towards. No additional funding has been given since then, which may be an indicator that increased competition in the predictive analysis real estate niche is heating up.

3. Its exact number of employees is not known.

According to the company’s website, it currently has “more than 150” employees with one website pegging the number at precisely 176. However, not all of those employees are in the United States. Gupta notes that he has a number of employees outside of the United States, including his hometown of Bangalore.

4. The company’s latest revenue estimate is $18.4 million.

Again, this number is an estimate, but if it is reasonable accurate it may indicate problems ahead. The March 2017 infusion of $5.4 million is about one-third of the company’s revenue (not profit). With no other additional cash injections, the question is whether the business has reached a saturation point.

5. SmartZip was founded in 2008 in Pleasanton, California.

Located near one of California’s most highly priced real estate geographical areas was a smart strategical move by Gupta. As one of the earlier entrepreneurial efforts in this niche market, SmartZip has managed to last more than a decade while starting off at the point of the Great Recession.

6. The company may not be the most loyal to its employees.

One of the recent casualties in what Gupta sees as the restructuring of his business is Joan Dailey, the former Vice President of Corporate Marketing. She had a seven year tenure at SmartZip, obviously being competent enough to get the company to celebrate its 10 year anniversary. But Dailey was not the only key management person to be shown the door.

7. The person largely responsible for the long term success of SmartZip has been fired.

Peter Grace, who has been said to have built the sales and business development structure of the company from the ground up, was also let go along with Dailey. Essentially, loyalty is not a premium characteristic of SmartZip, though it is not clear if there is just a difference of opinion on the future direction of the company. But with Gupta as the person solely responsible for the business, SmartZip’s problems can fairly be placed on his shoulders.

8. The company announced the layoff of about one-third of its workforce.

It was revealed that 50 of SmartZip’s employees were recently fired. There was no indication that it was the result of restructuring, but cutting your overhead by one-third is usually seen as a sign of low revenues and stagnant growth or a decline in the number of customers.

9. A sizeble chunk of the March 2017 funding was used to purchase Reach 150.

Reach 150 is a referral management system, which primarily focuses on Internet and social media referrals to build networks of people and help grow businesses. Though many referral management systems are used in health care, converting it over to a real estate application is realistic. However, this acquisition may be seen as a point of concern and weakness in the company’s showcase product.

10. As a part of SmartZip’s announced realignment, the company is now expanding into lending.

This is part of the statement issued by CEO Gupta, and with it comes the question of the long term viability of its showcase product. Lending can be seen as a natural extension of a real estate company, but SmartZip is not a real estate company. It is a software company.

Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Brain Computing
What are Brain Computer Interfaces and Can You Invest in Them?
men's health
20 Things You Didn’t Know About Numan
Itamar Sivan
10 Things You Didn’t Know about Itamar Sivan
Depop
20 Things You Didn’t Know about Depop
Enjin Coin
What is Enjin Coin and Is it a Good Investment?
credit card
What is a Soft Pull Credit Card?
NFT
A Simple Guide to NFTs and Buying Them
Snowflake Stock
Is Snowflake Stock a Solid Long Term Investment?
Chapel Hill
20 Awesome Romantic Getaways in North Carolina
South Carolina Lakes
The 10 Best Lakes to Visit in South Carolina
Lake Powell Utah
10 Lakes You Should Check Out in Utah
St. Augustine Lighthouse
10 Lighthouses You Should Check Out in Florida
A Closer Look at the Rossmonster Baja
2022 Polestar 2
A Closer Look at The 2022 Polestar 2
2021 Maserati Ghibli Trofeo
A Closer Look at The 2021 Maserati Ghibli Trofeo
2021 Hyundai i20 N
A Closer Look at The 2021 Hyundai i20 N
Fromanteel Chrono Blu Blue
The Five Best Fromanteel Watches Money Can Buy
Bell & Ross
A Closer Look at the Bell & Ross BR 05 GMT
Bohen Mille Mer
Everything You Need to Know About the Bohen Mille Mer Debut
Krayon Anywhere Watch
A Closer Look at the Krayon Anywhere Watch
Yelawolf
How Yelawolf Achieved a Net Worth of $4.5 Million
Christine Chiu
How Christine Chiu Achieved a Net Worth of $80 Million
Idina Menzel
How Idina Menzel Achieved a Net Worth of $16 Million
Sophia Bush
How Sophia Bush Achieved a Net Worth of $11 Million