// startup autopsy
Homely
The real estate portal that tried to break Australia's property duopoly and ran out of money.
runway zeroSlow Death
Years-long decline before final shutdown
| Founded | 2012 |
|---|---|
| Closed | 2023 |
| Country | Australia |
| Sector | Proptech |
| Founder | Jason Spencer, Stuart Tucker |
18%
22%
Key Events Timeline
2012
FOUNDING
Homely launched in Melbourne as a community-first alternative to realestate.com.au.
2016
FUNDING
Raised AUD 15M across multiple rounds to build agent network and expand marketing.
2020
PIVOT
Pivoted to suburb review and lifestyle content to differentiate from REA Group portals.
2023
SHUTDOWN
Homely shut down after failing to achieve sustainable advertising revenue from real estate agents.
// similar patterns
// MORE SLOW DEATH PATTERNS
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