Table of Contents
Introduction:
Isn’t it convenient that all the services related to the salon, home repairs, and more are available to you in just one click. The Urban Company provides you with a convenient solution to all your problems. It is a marketplace that helps you with hiring services for all your home-based and personal grooming solutions.
Urban Company gives a commercial center for independent work. It offers an assortment of home administrations to purchasers, including beauty treatments, hairstyles, profound cleaning, plumbing, carpentry, and apparatus fixes. The stage assists clients with booking solid home administrations and it means helping a huge number of administration experts across the world to convey services at home. The organization accomplishes with a huge number of administration experts, assisting them with preparing, credit, item obtainment, protection, and innovation.
Urban Company Case Study:
Urban Company is the biggest home help company in Asia.
The company assists clients with booking proficient home services, for example, excellent salon services for both men and women, cleaning, painting, plumbing, carpentry, machine fix, and some more.
This Indian organization is available in Singapore, the UAE, and Australia too.
It is accessible in 30 urban communities in India – – Agra, Ahmedabad, Bhopal, Bangalore, Bhubaneswar, Delhi NCR, Indore, Jaipur, Kolkata, Mumbai, Lucknow, Vadodara, etc – – and 4 International business sectors – – Abu Dhabi, Dubai, Sydney, and Singapore.
It was launched in November 2014. The primary intention of the organisation is to engage a huge number of experts and overall provide services at home like never experienced. This imaginative thought was raised by three youthful minds, Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan. This was their second effort to begin a business.
Since its establishment, the organisation has advanced monstrously, and as of now, it offers administrations under two verticals – Beauty and Wellness, and Home Repairs and Maintenance. Administration experts are shut to 40,000, out of which 35000 are from India on its foundation.
Urban Company’s Company Profile
| Founding Year | 2014 |
| Founding Members | Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan. |
| Headquarters | Gurugram, India |
| Investors | VY Capital, Tiger Global, Elevation, Dragoneer, and more |
| Employee Strength | 40,000+ Trained Service Professionals |
| Customer Strength | More than 5 million customers |
| Total Investment | 255 Million (approx) |
| Website Link | https://www.urbancompany.com |
Founders of Urban Company:
The trio of Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan set up this brilliant thought.
Cinemabox was an on-request film streaming stage that gave amusement for significant distance transport and was the primary endeavor of Abhiraj and Varun. Raghav Chandra was attempting to begin something all alone, an auto ride-sharing application called Buggy.
“These individuals [service providers] are the most atomic form of business units in our society… If India needs to grow, if consumers need to benefit, they have to be empowered”- As stated by Raghav Chandra, co-founder of Urban Company
By and by, they three before long understood their diligent effort isn’t going anyplace despite the fact that they have an interesting thought.
The three in the long run met up in their new mission and established “Urban Company”.
At Urban Company, Abhiraj Bhal is fundamentally answerable for taking care of advertising and business advancement. Raghav Chandra is liable for innovation and item improvement and Varun Khaitan deals with the operation and partner success.
The Birth Story of Urban Company:
Indeed, even in 2014, clients experienced issues in finding the services they genuinely required. The actual triplet felt that there was a hole in how individuals tracked down services and in how they associated with the specialised organisations.
Thus, utilizing their experiences and comprehension of the issues laying out an across-the-board stage came into the personalities of the organisers.
UrbanClap, as an association, was made by figuring out this need and by fundamentally changing the Yellow Pages plan into an internet-based stage.
The landing page of the Urban Company application which is showing the administrations given by them.
The landing page of Urban Company
Right away, it started as a phase that was a lead-generation model, however, after some time Urban Company embraced a full-stack model that onboards gig labourers offering them monetary help, abilities preparing, admittance to marked apparatuses and items, and a prepared to-serve market. The full-stack model assisted the organisation with keeping up with quality norms independent of the accomplice conveying the help, consequently assembling buyer love and steadfastness.
In a brief time frame, the three organisers raised a lot of assets from various endeavours and by 2015, the startup had raised more than a million dollars.
Challenges For Urban Company:
Urban Company saw unequivocal outcomes in business post lockdown and it is normal that the organization will twofold its income in the ongoing financial year when contrasted with the earlier year.
To satisfy the development in need the organization has been really buckling down in expanding its accomplice strength.
The prime supporter Varun Khaitan told PTI, “During the lockdown, we focused on re-imagining delivering safer and more hygienic services (amid the COVID-19 pandemic) and have made significant investments in technology, PPE (personal protective equipment), and safety training. Since June, the business has been on a very positive trajectory and customers have trusted Urban Company to enter their homes for both their beauty and home service needs.”
From that point onward, he added, “We have major areas of strength for seeing in business in spite of the long periods of lockdown. We have previously crossed our pre-COVID top by in excess of 30% and are certain of growing 2-folds in FY21 over FY20.”
In these six years, Urban Company has acquired the trust of their clients and because of this COVID-19 pandemic, everybody is currently more worried about cleanliness.
Hence, individuals presently lean toward salon administrations at home. Along these lines, they are confiding in Urban Company more due to their expert and clean administrations.
Funding And Investors of Urban Company:;
To date, the organisation is financed by 12 financial backers with Vy Capital, Tiger Global Management is the latest names on the rundown.
It has raised an aggregate of $190.9M in subsidizing more than 10 rounds and on 25 Aug 2020, its most recent financing was raised from an optional market round.
They have gained three associations and their latest procurement was Glamazon on Mar 4, 2020.
Business Model of Urban Company
The Urban Company has a clear and straightforward plan of action. This is to associate the clients with their necessary services at home. The organisation assists you with getting salon, beauty professionals, electrical experts, handymen, photographic artists, and some more.
A full-stack startup involves calculations for computerised matchmaking. To make the stage more dependable, the organisation guarantees public wellbeing. The organization plays out the personal investigations and furthermore police confirmation of all the specialist co-ops.
The Urban Company is developing and acquiring clients’ trust with its two-fold business model.
How does Urban Company Make Money?
There are three different ways of how the organization produces its cash:
Commissions
The clients recruit the specialist co-ops from the application. Whenever they use the administrations, they pay for them. From this installment, the organization gets a commission.
Turn around sell-off
In this, a specific specialist organization asks the organization for its advancement on the stage. In return for the advancement metropolitan organization charges cash from the specialist co-op.
Advertisements or Commercials
Different huge organizations, makers run their advertisements on the organization’s foundation. The organization accordingly gets a charge in return for this.
Services Provided by Urban Company:
- Urban Beauty: Salon and cosmetics administrations for ladies at home.
- Urban Spa: Massage treatment for people at home.
- Urban Grooming: Haircut and prepping administrations for men and children at home.
- Urban Repairs: Electricians, handymen, craftsmen, AC, and apparatus fix.
FAQ:
What is the plan of action of UrbanClap?
urban Clap associates clients or administration searchers to specialist organizations for everyday administration.
How does Urban Company bring in cash?
Urban Company brings in cash by commissions. They charge a little level of the all-out cost of the support of the entrepreneur.
What kind of organization is the Urban Company?
Urban Company is a home service organization.
What are the main resources of Urban Company?
There are two principal and most significant assets of the Urban Company. The first is their website. The second is their application which is accessible for both Android and iOS. The assets are made with comparable advancements. These assist the organization in lead age, advancements, and realizing the clients better.
Who are the founding members of Urban Company?
The trio of Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan set up this brilliant thought.
Is Urban Company International?
Yes, Urban Company also operates in some international countries: Dubai, Australia, Singapore, and Saudi Arabia.
Why did Urban Company change its name?
India’s driving home assistance stage, Urban Clap has formally reported its new image name ‘Urban Company. ‘ Rebranding demonstrates the organization’s vision targets being a level stage with a worldwide impression. As the organization is extending itself around the world, the association needed a name that has a widespread allure.
What is the current valuation of Urban Company?
The exchange fixed Urban Company’s valuation at $2.8 billion, which was higher than the $2.1 billion total assets the home administration supplier directed during its Series F financing round in June 2021. Bengaluru: Urban Company has finished up its fourth and biggest ESOP deal worth Rs 55 crore.
Conclusion:
In this article, we have mentioned the entire journey of Urban Company and how it got transformed. The Urban Company has made an enormous name for itself on the lookout. It made this conceivable due to its straightforward yet successful preparation. The organization didn’t make a mind-boggling plan of action for itself at the outset and it means to just keep it that way.
This model assists with acquiring cleaners, yoga mentors, teachers, electrical experts, and some more. One can do this from the comfort of their home with their mobile phones. The Urban Company’s plan of action means to make the availability among clients and specialist organizations quicker and more productive.
