The Urban Company: A successful startup with a unique twist in business model
UrbanClap is now known ad Urban Company. It is one of the successful startups in India. Within a very small span of time, it has gained amazing popularity and seen a sharp rise in the customer base. The startup has a unique idea to work on. I mean it is a pioneer of bringing saloons at home via an app. Foods, groceries, clothes, etc were coming via online orders for several years but bringing a saloon at home was this easy- no one has thought that before Urban Company. This is an all-in-one platform. It not only helps customers but also helps professionals like masseurs, beauticians, carpenters, cleaners, technicians, and so many other professionals. Professionals get a wide platform to join with the maximum number of customers.
The idea of such a platform was made by three experts, Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan. These professionals are quite successful in their own ways.
Year Founded: 2014
Headquarter: Gurugram, Haryana, India
Founders: Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan
How did it all start?
In 2014. The trio was feeling that there is a prominent gap when it comes to offering saloon-like services at home. Services that can be provided at the customer’s place were the target services. It was just about connecting the customer with the best service provider in the locality.
Within a short span of time, we can see that the trio has changed its business model. The first lead generation model was no doubt a good one. But soon after, they decided to expand in a new way. They decided to make the platform offers services related to spa, grooming, cleaning, maintenance, and repair, pest control, salon, etc.
Business Model and Revenue Model
The initial business model was only about lead generation. But after that, the trio decided to add a whole new dimension to the platform. They have adopted a full-stack model. The model concentrates on onboarding gig workers offering them financial assistance, access to require tools, training, products, etc. The model is really effective and it has helped the company to maintain the desired quality standards irrespective of the partners. You know that today’s market concentrates more on the love and loyalty of customers than any other thing. Just within a year, the company has raised a good amount of funding from different sources and ventures and by 2015, Urban Company raised more than one million.
The funding luck of Urban Company is quite good. Till date, the company has received funding from more than 12 companies. And that’s amazing without any doubt. We all know that getting funding for any startup is really tough but Urban Company has proved it wrong. The company has shown the market that if the idea and models are unique and have potentials, investors will find you sooner. Tiger Global Management is the recent name in their list of investors.
Just over 10 rounds, the company has raised a total of $ 190.9M. On 25th August 2020, the latest funding for this company was raised from a secondary market. The company has acquired 3 organizations and the recent one was Glamazon on Mar 4, 2020.
These startup journey stories are quite inspiring. Stories prove how things can be possible. Willpower is consistency in the effort are mandatory things that can set a business apart from the crowd and win the crown. The sole sim of publishing these stories is not to cheer up individuals who are dreaming of new things that can bring a fruitful change to the entire market.
The Urban Company is quite different than other startups. It has a different story. It has taken a double risk by changing the business model. But fortunately, everything has started to pay positive results. True effort and dedication must pay off, the Urban Company is a live example.