Urban Company
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| Type of business | Private |
|---|---|
Type of site | Online marketplace |
| Founded | November 2014 |
| Headquarters | Gurgaon, Haryana India |
| Area served | Within India: Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Delhi NCR, Hyderabad, Indore, Jaipur, Kanpur, Kolkata, Lucknow, Ludhiana, Mumbai, Nagpur, Pune, Surat, Vadodara, Patna and Visakhapatnam Outside India: Dubai, Abu Dhabi, Sydney, Singapore and Saudi Arabia |
| Founder(s) |
|
| Industry | Consumer service |
| Revenue |  US$29.59 million (2020)[1] |
| Employees | 1,000 (May 2020) |
| Website | www |
Urban Company (formerly known as Urban Clap) is an Indian gig marketplace that offers home repairs and maintenance services, and home beauty and wellness services.[2] In 2014, the company was founded by Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra.[2][3]It was valued at USD 2.8 billion after its employee stock sale programme concluded in December 2021. [4] As of 2021, the company operates in 30+ Indian cities and in the UAE, Singapore, Australia and Saudi Arabia.[5]
History[edit]
In 2013, Abhiraj Bhal, Varun Khaitan and Raghav Chandra invested INR 10 lakh each to launch UrbanClap, a hyperlocal home service platform.[6] In January 2020, Urban Clap was rebranded to Urban Company as a move to be a global brand.[7]
Funding[edit]
In April 2015, Urban Company secured its seed fund of US$1.6 million from SAIF Partners and Accel Partners.[6] In June 2015, Urban Company raised US$10 million in Series A funding from its existing investors, SAIF Partners and Accel Partners.[8] In November 2015, Urban Company raised US$25 million in a Series B round of funding led by Bessemer Venture Partners, SAIF Partners and Accel Partners.[9] In July 2018, Urban Company raised US$50 million in a Series C funding round led by Steadview Capital and Vy Capital.[10] In May 2019, Urban Company raised US$50 million in the Series D funding round led by Steadview Capital.[11] In August 2019, it raised US$75 million in the Series E funding round led by Tiger Global Management.[12]
In addition to institutional funding, Urban Company attracted individual investments from Rohit Bansal and Kunal Bahl, the founders of Snapdeal.[13] In November 2015, Ratan Tata, a former chairman of Tata Sons, invested an undisclosed amount in Urban Company and joined its board as an adviser.[14] In 2019, as a part of the Series D funding round, Kalyan Krishnamurthy, the CEO of Flipkart, invested INR 1.6 crore in the company.[15]
Acquisitions and partnership[edit]
In 2016, Urban Company acquired HandyHome, a services marketplace that facilitated online bookings of repairs and services for electronic appliances.[16] In the same year, Urban Company acquired GoodService, a hyperlocal startup offering services over a messaging platform.[17] In July 2019, Urban Company partnered with National Skill Development Corporation to train 30,000 services professional under short-term skilling and upskilling programs, and to create micro-entrepreneurship opportunities for services professional who were already certified under Pradhan Mantri Kaushal Vikas Yojana.[18] In March 2020, Urban Company acquired the assets of Glamazon, an Australian on-demand beauty services provider.[19]
References[edit]
- ↑ SH, Salman (October 13, 2020). "Urban Company FY20 revenue jumps 103% led by demand in beauty and wellness". The Mint. Retrieved October 19, 2020.
- ↑ 2.0 2.1 Agarwal, Nikhil (January 30, 2020). "UrbanClap renamed Urban Company as the startup expands to international markets". The Mint. Retrieved October 19, 2020.
- ↑ Singh, Manish (August 2, 2019). "UrbanClap, India's largest home services startup, raises $75M". [TechCrunch]]. Retrieved October 19, 2020.
- ↑ "Urban Company valuation rises 33 pc within 6 months to USD 2.8 bn in 4th ESOP sale". The Hindu Businessline. 12 December 2021. Retrieved 3 February 2022.
- ↑ "Urban Company raises $255 mn at a valuation of $2.1 billion". Livemint. 3 June 2021. Retrieved 3 February 2022.
- ↑ 6.0 6.1 Chopra, Arushi (March 20, 2017). "How UrbanClap grew one on-demand service at a time". The Mint. Retrieved October 19, 2020.
- ↑ "UrbanClap renamed Urban Company as the startup expands to international markets". Livemint. 30 Jan 2020. Retrieved 3 February 2022.
- ↑ Venkatesh, Shruti (June 29, 2015). "UrbanClap raises $10 million in Series A funding". Forbes. Retrieved October 19, 2020.
- ↑ Shu, Catherine (November 19, 2015). "UrbanClap, India's Largest Services Marketplace, Fetches $25 Million Series B". TechCrunch. Retrieved October 19, 2020.
- ↑ Srinivasan, Supraja (December 1, 2018). "UrbanClap raises $50 million from Vy Capital, Steadview". The Economic Times. Retrieved October 19, 2020.
- ↑ Russell, Jon (November 30, 2018). "UrbanClap raises $50 million from Vy Capital, Steadview". TechCrunch. Retrieved October 19, 2020.
- ↑ "Urban Company snaps up Australian on-demand beauty venture Glamazon". Livemint. 17 March 2020. Retrieved 3 February 2022.
- ↑ "Snapdeal founders Rohit Bansal, Kunal Bahl invest in UrbanClap". The Financial Express. April 16, 2015. Retrieved October 19, 2020.
- ↑ Poovanna, Sharan (December 11, 2015). "UrbanClap raises funding from Ratan Tata". The Mint. Retrieved October 19, 2020.
- ↑ Malik, Yuvraj (April 9, 2019). "After Moglix, Flipkart CEO Kalyan Krishnamurthy bets big on UrbanClap". Business Standard. Retrieved October 19, 2020.
- ↑ "UrbanClap acquires HandyHome". Business Standard. October 7, 2016. Retrieved October 19, 2020.
- ↑ "UrbanClap acquires hyperlocal app GoodService". The Business Standard. August 11, 2016. Retrieved October 19, 2020.
- ↑ "UrbanClap partners with NSDC to train, certify service professionals". The Hindu Business Line. July 16, 2019. Retrieved October 19, 2020.
- ↑ "Urban Company snaps up Australian on-demand beauty venture Glamazon". Livemint. 17 March 2020. Retrieved 3 February 2022.
External links[edit]
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