UrbanClap Startup Success Story

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UrbanClap Startup Success Story

Today's case study is 'Urbanclap' startup. You will see all the advertisements of 'Urbanclap' while online streaming

This company started as follows -
Both Varun Khaitan and Adhiraj Bhal of IIT Kanpur used to work in the batchmates of Boston Consulting Group of the US. While there, he thought of leaving his job and starting his own startup. After which they both returned to India Delhi in 2013. In 2013, both of these friends discussed their idea with their twitter friend Raghav Chandra. Raghav Chandra graduated from Computer Science from University of California, Berkeley. All three liked this idea and together they started planning to start a startup. Finally urbanclap was launched in 2014.
Urbanclap



Urbanclap- Urban life is designed to be more easy. This startup means that- you get professionals service as soon as you do a clap. At present, Urbanclap is India's largest mobile services marketplace and this company is growing very fast. This is a Hyperlocal delivery startup, in which professionals cater to your local needs. Where you have to go somewhere for all these services, professionals from this starups themselves come to your place and give you service. Such as - Housekeeping Service, Plumbers, Electricians, Carpenters, Cleaning & Pest Control. Along with this, it also provides personal service such as - Beauty, Spa, Mobile & Other Appliance Repairing. Moreover, it also provides the facility of Wedding Photographer, Yoga Teacher, Interior Designer etc. At this time, local service has the most problems in urban. This app is used as a solution.

Company Expansion-

At present, this company has more than 1 lakh professionals and 30 lakh customers. And every month more than 10 thousand people are also joining the app.
mobile app

Funding-
The company first received a fund of 10 crores in April 2015 from Saif & Accel. After 2 months, again got $ 10 million funding from Saif & Accel. A few months later, the company was funded by Besemer Venture Partners & some investors for $ 25 million. By the end of 2015, Urbanclap became India's most funded startup of hyperlocal segment. In December 2015, Ratan Tata of Tata & Sons ltd was given a funding of disclose amount. On 27 July 2019, the company was given 1.49 lakh funding by Ex-flipkart CTO 'Mekin Maheshwari' and avaana capital founder 'Anjali Bansal' and on 2 August 2018, the company raised funding of around Rs 518 crore from Tiger Global.

After this funding, Gurugram-based startup is now going to be a Unicorn startup. Unicorn startups are startups with valuations exceeding $ 1 billion. Currently, Urbanclap is valued at around $ 933 million. Transactions worth more than 1 thousand crore are also being done every year on the Urbanclap platform.

Currently, the company operates in 10 cities of the country - Ahmedabad, Bangalore, Chennai, Chandigarh, Delhi-NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune and UAE, Dubai & Abu Dhabi. In Dubai, this company has been working since 2018.

The startup has also done a tie up with the Indian Government. Through this tie up, it will now train 30 thousand people across the country under the National Skill Development Corporation (NSDC). The special thing is that this agreement was signed on World Youth Skills Day. According to a report, the Indian hyperlocal market will reach 2,306 crore by 2020.

Company perception-
The company relies on quality over quantity. This is the reason that only 5 people are selected in an interview of 100 people in this company. This company is continuously growing. In FY17 the revenue of this company is 11 crores, 45 crores in FY18 and 116 crores in FY19. This startup is also planning to bring its IPO. But there is a condition that the company's IPO will come only when the company's commission revenue is 100-200 Mn dollars.

And finally-
Let us tell you that before Urbanclap, Raghav Chandra started the startup Ride sharing app 'buggy.in', which failed very badly, but this second Startup 'Urbanclap' has grown very fast. So if your vision is clear, then your startup will also be successful. At this time the demand for local service in India is very high and Urbanclap company is understanding the importance of this demand along with technology. By the way, more hyperlocal apps are in the market at the moment like- Doormint, TimeSaverz, Mr. Right, Justdial, Near.in.

You should keep reading our blogs to know more startups starting with such a great business idea.


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