ManoMano (Massive Down Round)
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
ManoMano is a French marketplace for DIY, home improvement and gardening products, founded in 2013 by Philippe de Chanville and Christian Raisson. Riding the COVID-era home-improvement boom, it hit a $2.6 billion valuation with a $355 million Series F led by Dragoneer in July 2021, bringing total funding to $725 million, with backers including Temasek, General Atlantic, Eurazeo and Bpifrance. The company operates in six European countries with around 50 million monthly visits. It remains active; its 'failure' is the 2023 down round and restructuring.
02 / ManoMano (Massive Down Round) FAILURE REASONS
Failure reasons
The failure event is the 2023 collapse of ManoMano's pandemic-era valuation trajectory, not a shutdown. As DIY demand normalized and tech multiples compressed, the company reversed its hypergrowth playbook: in October 2023 it announced a redundancy plan cutting 230 positions (about a quarter of the workforce, including 80 in France) after poor results, relocated customer service to Madagascar and Portugal, and raised fresh capital at a steep discount to its 2021 peak. The company continues to operate; this is a reported valuation failure, not an operational failure.
03 / EVENT HISTORY
Events in the structured record
- Founded
Philippe de Chanville and Christian Raisson founded ManoMano in Paris as a marketplace for DIY, home improvement and gardening products.
- Series F peak
Raised a $355 million Series F led by Dragoneer Investment Group at a $2.6 billion valuation; total funding reached $725 million.
- Massive down round
ManoMano raised fresh capital in 2023 at a sharply reduced valuation - a massive down round from its 2021 peak.
- Restructuring
In October 2023 the company announced 230 redundancies (about a quarter of staff, including 80 in France) and outsourced customer service to Madagascar and Portugal.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Founded 2013 in Paris by Philippe de Chanville and Christian Raisson; DIY/home-improvement/gardening marketplace operating in six European countries.
- 02
July 2021: $355 million Series F led by Dragoneer at $2.6 billion valuation; $725 million raised total.
- 03
2023: massive down round at a sharply reduced valuation.
- 04
October 2023: 230-position redundancy plan (about a quarter of staff) after poor results; customer service moved to Madagascar and Portugal.
- 05
Company remains active; no shutdown, bankruptcy or acquisition.
- 06
No reliable loss figure disclosed; valuation declines are not losses.