The
Toronto Star features
Homestars, a website launched by Torontonian Nancy Peterson that allows homeowners to post reviews of renovation-related service providers. With over 250,000 Canadian companies listed (including 50,000 in Toronto), Homestars has become an invaluable resource for Canadians needing renovations and repairs.
"Prior to launching the website, Peterson held senior marketing positions at major corporations, including Kraft Foods and Procter & Gamble."
"It was hard to leave a good paying job and start a company where you are not going to make a salary for a long time," she says. But Peterson believed in her idea � a sort of TripAdvisor site for home renovations."
"To fund HomeStars, she used her own savings, took out a loan and then fundraised among friends, family and angel investors.The site broke even in 2008. Since then, profits have been reinvested in the company to fund growth � building new markets and adding new staff. There are now 13 employees, compared to four at the beginning."
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Toronto Star