Exciting User Updates - critical platform component poised for rapid 2020 growth.
As we’ve reported on throughout our Republic campaign, we haven’t been wasting any time pushing forward on priorities aimed at positioning us to scale and preparing us for our institutional Series A. We’re excited and grateful to be able to update you on one of the most critical elements of the platform: users. While, in one form or another, users are a vital part of any successful platform, in our case, design-related users play two very significant roles. First, they are the source of the millions of professionally photographed interiors that are central to our model. And second, they represent our largest customer segment accounting for over 25% of the total $500 billion home goods market.
Recognizing the mutual value, we have worked diligently at establishing data, systems, and processes that will allow us to scale this portion of our user base - and as a byproduct, our image library and revenue - as rapidly as possible. We have developed and tested systems which we expect will allow us to onboard 65,000 curated, design, and home professionals by the end of 2020. We estimate that these users account for over $6 billion per month in product purchases. Further, based on current averages of 450 images per onboarded design professional, we expect to surpass today’s leading platform in terms of images by nearly 2x. The projected growth of our professional user base, in conjunction with previously reported plans to rapidly expand our product marketplace, is expected to drive gross monthly revenue of over $2 million per month, by the end of 2020, while at the same time this is barely scratching the surface relative to the total revenue opportunity represented by this market.
While the revenue opportunity is significant and is expected to facilitate other key objectives including attractive Series A terms, the data we’re amassing directly and indirectly through such rapid growth of users and content, is strengthening our unique ability to enable visual (i.e., image-based) search and discovery, and shopping, in ways the today’s leading search, social, and shopping platforms, have not yet achieved. As previously mentioned, we are working toward the first release of this visual discovery user experience on January 20, 2020.
We’re excited about the progress we’re making and the wind at our backs as we get ready to scale into 2020. As always, we’re grateful for the continued support we receive from our investor group.
Very Best, Andrew