What happened to UrbanClap?

What happened to UrbanClap?

Today, UrbanClap announced the creation of its new brand, Urban Company. The new umbrella brand captures the company’s ambition to be a horizontal gig marketplace, with a global footprint and leadership position across service categories, Beauty & Wellness and Home Repairs & Maintenance.

Why did Urban Company fail?

Urban Company was recently mired in controversy after several Urban Company partners staged protests outside the startup’s headquarters regarding its policies and poor pay. Following this, the company slashed its commission cap by 5%. The startup back then reduced the highest commission slab from 30% to 25%.

Is UrbanClap successful?

In 2014, Arun Chandra and Abhiraj Bhal founded UrbanClap, an online services platform that connects customers with service professionals. The company has been a huge success, and today it is one of the leading players in the Indian e-commerce space.

Why UrbanClap changed to Urban Company?

India’s leading home service platform, Urban Clap has officially announced its new brand name ‘Urban Company. ‘ Rebranding indicates the company’s vision aims at being a horizontal platform with a global footprint. As the company is expanding itself globally, the organisation wanted a name which has a universal appeal.

Is Urban Company profitable?

While Urban Company doubled its revenues in both FY19 and FY20, it managed to grow total revenues by 10% to ₹290 crores in FY21, which is still decent. That is where the good news ends. Urban Company incurred losses of ₹155 crores in FY20, which grew nearly 60% to ₹249 crores in FY21.

Who owns Urban Company?

Urban Company co-founder Abhiraj Bhal said it is important to have a brand which is globally acceptable. “From the neighbourhoods of Darling Harbour in Sydney to the condominiums of Gurgaon, Urban Company is a simple name with universal appeal.

What are the challenges faced by Urban Company?

Few of the challenges faced by UrbanClap were operational expansion across India, the satisfaction of its service providers and customers, and filling up the profit–revenue gap.

Is UrbanClap in profit or loss?

On a unit level, Urban Company spent Rs 2.18 to earn a single rupee of revenue. Annual losses booked by the company surged by 61% YoY to Rs 249.3 crore in FY21 as compared to Rs 155.2 crore during FY20.

Why Urban Company is successful?

Urban Company, previously called UrbanClap, is amongst the preeminent startups in India that have observed a sheer hype in their customer base. The startup has made it simple to avail services such as massage and salon without going outside and it is the biggest online services provider with a simple framework.

What is Urban Company strategy?

The business strategy at that point was to diversify offerings, connect users to a wide range of professionals, market the app to the correct demographics (ideally millennials reliant on technology for conveniences) and develop a recognizability in the market for being the go-to startup for all sorts of services …

Why UrbanClap changed their name?

UrbanClap has come of age and now has a new name. UrbanClap is now Urban Company. #UrbanCompany,” the company tweeted. The renaming is part of the brand’s bid to expand its operations worldwide and leave a global footprint across areas such as beauty, wellness, home repairs and maintenance, Livemint reported.

Who is the CEO of UrbanClap?

How much is Urban Company worth?

The transaction pegged Urban Company’s valuation at $2.8 billion, which was higher than the $2.1 billion net worth the home services provider commanded during its Series F funding round in June 2021.

Is Urban Company a unicorn?

Urban Company is thus the latest Indian startup to enter the coveted unicorn club. Tiger, Steadview Capital, Vy Capital and others also participated in the round. The company has so far raised $370 million of equity capital from investors across various rounds.

Is Urban Company in loss?

On-demand home services marketplace Urban Company’s net loss widened to Rs 249.28 crore in 2020-21 (FY21) from Rs 155.18 crore in 2019-20 (FY20) as the company’s employee benefit expenses soared more than 60%, the company’s filings with the Ministry of Corporate Affairs (MCA) show.

Which startups are profitable in India?

Top 10 Most Profitable Startups in India

• Zoho Corp.
• Zerodha.
• Mu Sigma.
• Games24x7.
• Infoedge.
• Dream11.
• BillDesk.
• FirstCry.

Is Lenskart making profit?

Lenskart has managed to grow its profit 4.6 times over the last year, even as its revenue only grew marginally, rising from Rs. 900 crore in F20 to Rs. 905 crore this year. The growth in Lenskart’s profits came chiefly from an 83% growth in its non-operating income.

Who is the brand ambassador of UrbanClap?

New Delhi: UrbanClap, digital home services platform, on Monday announced that it has appointed Bollywood actor Kriti Sanon as its brand ambassador for the beauty vertical. Sanon joins actor Ayushmann Khurrana who endorses UrbanClap’s air conditioning repair services.

Is Urban Company good to work?

How is Urban Company to work for? Urban Company is rated 3.5 out of 5, based on 384 reviews by employees on AmbitionBox. Urban Company is known for Skill development which is rated at the top and given a rating of 3.6. However, Job Security is rated the lowest at 3.0 and can be improved.

Why do you want to join UrbanClap?

It’s a rapidly growing startup that has proven to capture the unorganized sector and collaborated with them to grow to their business which is a huge challenge. I would like to join this mission as well so that I can learn key skills to enhance my career in future.