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About
Kabuni connected interior designers, artisans and shoppers through a web app — its founder described it as 'Amazon meets Pinterest' — and in June 2016 opened a 3,000-square-foot Vancouver studio at 1378 West Pender Street that doubled as a co-working space and incubator for local designers. The draw was the Dream Room, a 480-square-foot set where designers projected holographic furniture, rugs and lamps against a client's walls and windows. At that point the company counted nearly 60,000 designer-approved products, more than 1,000 designers across North America and more than 6,000 customers. Its ASX-listed parent then spent nine months trying to sell the business to Print The Future, another company founded by Neil Patel. When that buyer missed a $3.7 million promissory note at the end of November 2017, the listed company said it would rebrand as Serpentine Technologies and look for acquisitions in any sector.
Backers
Listed on the ASX as KBU; Stockhead put the listed company's market value at about $3.6 million in December 2017. No private investors were named in the coverage reviewed.
Quick answers
What was Kabuni?
A Vancouver interior-design marketplace connecting designers, artisans and shoppers, best known for a studio where holographic furniture could be projected into a room before a client committed to a design.
What happened to Kabuni?
A sale of the business to Print The Future fell through when the buyer missed a $3.7 million promissory note in November 2017, and the ASX-listed parent said it would rebrand as Serpentine Technologies and pursue acquisitions in other sectors.
Is this the Neil Patel who writes about marketing?
No. Stockhead noted explicitly that Kabuni's founder is a different person from the well-known British marketing writer of the same name.