Dolly Acquired by Updater: End-to-End Moving Solutions

Updater Acquires Dolly to Broaden Moving Service Capabilities

Updater, a leading provider of moving services, has announced the acquisition of Dolly, an on-demand startup specializing in smaller-scale moves. This strategic move aims to enhance Updater’s range of offerings and cater to a wider spectrum of consumer needs.

Dolly's Core Functionality and Market Position

Dolly facilitates connections between individuals requiring assistance with moving large items – such as furniture – and qualified contractors. The service has gained traction as a convenient solution for pickups originating from online marketplaces.

Similar to services like Lugg, Dolly has proven popular for coordinating the transport of goods purchased through platforms like Craigslist. A key partnership with Facebook Marketplace further streamlines the process, enabling users to arrange pickups directly through the app.

Currently, Dolly’s services are available in 45 major cities throughout the United States, as detailed on their official website.

Expanding Beyond Consumers: Dolly's Retail Partnerships

Beyond serving individual consumers, Dolly has established a significant business-to-business presence. They collaborate directly with retailers, leveraging their network of movers to provide same-day delivery options for customers.

Notable retail partners of Dolly include prominent companies such as Costco, Lowe’s, and The Container Store.

Financial Details and Investment History

The financial terms of the acquisition have not been publicly disclosed. Prior to the acquisition, Dolly successfully raised $17.2 million in funding across multiple rounds.

This included a $7.5 million Series B funding round secured in May 2019. Key investors in Dolly included Maveron, Unlock Venture Partners, and Version One Ventures.

Operational Structure Post-Acquisition

Following the acquisition, Dolly will continue to operate as an independent subsidiary, fully owned by Updater.

Updater's Vision and Market Share

Updater, backed by SoftBank, focuses on delivering a premium, comprehensive moving experience. The company operates on an “invite-only” basis and collaborates with major brokerage firms.

Customers of these firms are offered the option to utilize Updater’s services to manage their relocation, connecting them with moving companies that utilize the MoveHQ software platform.

Updater reports that its products currently facilitate approximately 25% of all household moves in the United States.

Strategic Rationale and Future Outlook

Since its inception in 2010, Updater has secured nearly $200 million in funding. The acquisition of Dolly will enable Updater to extend its services to customers undertaking smaller moves or those who prefer not to engage a full-service moving company.

According to CEO David Greenberg, the goal is to establish Updater as the primary resource for Americans managing any type of move, stating, “We want to be the go-to place for Americans to conquer their move.”