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Urban Ladder – Company Profile

Urban Ladder is an online furniture store that started operations in 2012. The company was launched by Ashish Goel and Rajiv Srivatsa, both of whom are from IIM (Indian Institute of Management). Urban Ladder is headquartered in Bengaluru and delivers to more than 100 towns and cities across India. It is consistently adding new locations to its delivery map, which is helping the company to expand its business operations and increase revenue. Urban Ladder focuses on stylish and modernistic furniture that comes with the promise of superior quality.

The unique designs of its furniture have become widely popular among city dwellers looking for a hassle-free furniture buying experience. Urban Ladder offers a comprehensive range of furniture such as sofa sets, chairs, tables, storage units, bean bags, beds, dining tables, bar furniture, TV units, cupboards, dressing tables, sofa cum beds, study tables, and computer tables. Urban Ladder also offers mattresses and a wide variety of home decor items such as carpets, rugs, bed linen, curtains, and lighting.

History:

Founders Ashish Goel and Rajiv Srivatsa decided to launch their start-up in 2012 after they faced problems with sourcing the desired quality of furniture. After their education at IIM-Bengaluru, the duo had decided to settle in Bengaluru. They bought apartments close by, but had a difficult time sourcing the right furniture. It was their disappointing experience with the existing furniture market that prompted them to launch Urban Ladder. The company was launched to give customers a new experience, enabled by furniture that was of top quality, aesthetically designed, and reasonably priced. The founders also focused on improving customer services, since the furniture market was largely unorganized in 2012 and earlier. The founders started Urban Ladder using their own savings and later secured funding from various investors.

Funding:

Owing to the company’s profitable business model and the potential of the furniture market in India, Urban Ladder has attracted various investors. Overall, Urban Ladder has received funds worth around $95 million through six rounds of funding. Investors include Kalaari Capital, SAIF Partners, ABG Capital, Sequoia Capital, Steadview Capital, TR Capital, and Ratan Tata.

Acquisitions:

Urban Ladder had acquired Gurgaon-based furniture and home decor marketplace BuynBrag in 2014. The acquisition was aimed at strengthening the home decor business of Urban Ladder. The acquisition was done privately and the details were not disclosed publicly. BuynBrag had also started operations in 2012.

Competition:

Urban Ladder competes with other online furniture stores such as Pepperfry, Housefull, Hometown, Livespace, Stichwood, Fabfurnish, Godrejinterio, Amazon India, Flipkart, and Snapdeal.

About the Founders:

Urban Ladder was founded by Ashish Goel and Rajiv Srivatsa. Ashish Goel is an IIT and IIM alumnus and currently works as the CEO of Urban Ladder. Prior to launching Urban Ladder, he had worked with McKinsey & Company, Amar Chitra Katha and India Book House. Rajiv Srivatsa is also an IIT and IIM alumnus and currently works as the COO (Chief Operating Officer) of Urban Ladder. Earlier, he had worked with Infosys, Cognizant and Yahoo.

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