Rethinking Real Estate: Mikus Opelts and the Rise of Giraffe360
By Riley Kaminer
When Refresh Miami sat down with Mikus Opelts, his Zoom background could not have been more fitting: a view of the ever-changing Wynwood skyline, complete with yellow cranes symbolically mirroring his company’s logo. It serves as a vibrant reminder of Miami’s dynamic growth, mirroring the innovation Opelts is bringing to the real estate sector through his startup, Giraffe360.
The Artistic Roots of an Entrepreneur
Opelts’ entrepreneurial journey began at an impressively young age. At just 20, he launched a media production company that specialized in high-end real estate and hospitality photography, leveraging cutting-edge technology such as drone shots and immersive virtual reality experiences. This experience grounded him in the world of visual storytelling, where he learned the nuances of creating professional-quality content that sells.
However, as his business flourished, he faced a challenge: the specialized production techniques that made his earlier projects successful were not scalable to every property. Recognizing this gap in the market spurred the conception of Giraffe360—a solution designed to democratize high-quality real estate photography, making it accessible to a wider audience.
From Concept to Creation: Building Giraffe360
The journey from idea to execution was not swift; Opelts and his team dedicated nearly four years to develop the initial commercial camera, which was finally launched in 2020. “It actually took us three or four years to build the kit,” he recounts, highlighting the complexities involved in producing a user-friendly device without compromising on quality.
Giraffe360’s camera is a feat of engineering, merging components from industry giants like Nvidia and Sony with proprietary technology, including in-house developed LiDAR for precise measurements. This blend of high-quality components is essential to Opelts’ mission of simplifying complex technology for everyday users, particularly within the real estate sector. Remarkably, over 90% of Giraffe360’s users are real estate agents and brokers, showcasing the solution’s tailored applicability.
Revolutionizing Real Estate Photography
Giraffe360’s impact on the market is profound, with the startup offering a photography solution that boasts a 50% cost reduction compared to traditional services while tripling the speed of content production. “If you use Giraffe, you can list on the same day or start your content broadcasting, publishing and social media the same day,” Opelts explains, contrasting this with the typical three to four-day turnaround for conventional photography methods.
This efficiency is complemented by a subscription-based pricing model, starting at $223 per month for individual realtors. Opelts intentionally crafted this approach based on his experiences from his previous ventures. “Where your money comes from is how, as a CEO, I end up thinking about business,” he notes, indicating that a sustainable revenue model is crucial for long-term growth. The results speak for themselves: Giraffe360 enjoys impressive customer retention rates and an average client lifetime of four years and counting.
Miami: The Heartbeat of Growth
Giraffe360’s journey unavoidably led them to Miami, drawn in by the city’s burgeoning tech ecosystem and the proximity of key investors, notably Founders Fund, who led their Series A funding round. Since Giraffe360 launched in the U.S. in early 2022, this market has rapidly become their fastest-growing region. Currently, about 20 of the company’s 220 employees are based in Miami, a number Opelts anticipates will roughly double by the end of next year.
Looking Ahead: Innovations on the Horizon
As Giraffe360 continues to scale, Opelts hints at exciting developments nearing launch. “We think it’s time to up a notch and really switch to the next generation of how the remote property experience happens,” he said. This forward-thinking mindset might soon propel real estate presentations to new heights across platforms, from social media to listing sites, making them “more interesting” and engaging for potential buyers.
In a world increasingly driven by technology, Giraffe360 stands out as a pioneering force, bridging the gap between outstanding imagery and accessibility. Opelts’ vision not only captures the essence of properties but also encapsulates the spirit of Miami—a city constantly evolving and innovating at the crossroads of art, technology, and real estate.
Riley Kaminer is a Miami-based technology researcher and writer with a passion for sharing stories about the South Florida tech ecosystem. Specializing in GovTech startups and innovative applications of artificial intelligence, Riley is committed to highlighting how technology can transform society for the better. Follow Riley on Twitter @rileywk or visit www.RileyKaminer.com for more insights.