After Moglix, Flipkart CEO Kalyan Krishnamurthy bets big on UrbanClap - Start-Up Hyderabad
Loading Startup Hyderabad

After Moglix, Flipkart CEO Kalyan Krishnamurthy bets big on UrbanClap

 6 months ago    

Walmart-owned Flipkart’s Chief Executive Officer (CEO) Kalyan Krishnamurthy has put Rs 1.6 crore in UrbanClap, the Gurugram-based home services start-up. Kalyan Krishnamurthy, who has earlier invested in startups such as Moglix, CureFit, Tiger Global-backed NestAway, Sequoia-backed edtech startup Unacademy, etc., has now invested in UrbanClap. He will also act as an advisor to UrbanClap.  According to RoC filings, the price per share for this round stood at Rs 51,552, for a total of 310 equity shares. Prior to this investment, the startup had raised funding of $50 million in a Series D round from Steadview Capital Management and existing investor Vy Capital in November 2018. UrbanClap will also see a list of existing marquee investors like SAIF Partners, Ratan Tata, Accel Partners, and Bessemer Venture Partners. They have also recently announced that Bollywood star Ayushmann Khurrana is its brand ambassador.

Kalyan Krishnamurthy, Flipkart

UrbanClap, which was founded in 2014, offers services at home for its customers. UrbanClap is recognized as the fastest-growing startup in India, a mobile marketplace for local services to help customers hire trusted professionals for all their service needs. Be it getting a plumbing job done, improving your fitness through yoga, learning to play the guitar, decorating your home or getting candid photos of your wedding clicked, UrbanClap is a sure shot destination for all your service needs. In almost five years in the business, the startup has garnered more than 35,000 trusted and verified professionals on the platform that serve more than 500,000 customers each month, across 10 cities in India (including Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune). The startup also made its international debut by expanding its offerings into Dubai.

Flipkart, on the other hand, was founded in October 2007 by Sachin Bansal and Binny Bansal, who were both alumni of the Indian Institute of Technology Delhi and formerly worked for Amazon. The company initially focused on online book sales with country-wide shipping. The service competes primarily with Amazon’s Indian subsidiary and the domestic rival Snapdeal] as of March 2017, Flipkart held a 39.5% market share of India’s e-commerce industry. Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong) and was described as being “neck and neck” with Amazon in the sale of electronics and mobile phones.  Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI). In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing it at $22 billion.

 

Comments

comments

Bhavitaavya Dharanikota

An avid reader and a travel enthusiast. Being in love with music for my entire life, I’m a dancer in the making. For the love of writing and digital marketing , I started my career as a blogger at Startup Hyderabad. All my life I have believed that ‘Dreams are the touchstones of our characters’ and have always strived towards making them come true.

OUR BLOGGERS

  • Saritha Keshamoni

    Saritha Keshamoni

  • Ramya Sayaboni

    Ramya Sayaboni

  • Bhavitaavya Dharanikota

    Bhavitaavya Dharanikota

  • Sruthi Malla

    Sruthi Malla

  • Ruchika Agarwal

    Ruchika Agarwal

  • Neeha Jayaram

    Neeha Jayaram

  • Sameeksha Bansal

  • Tata Teja

    Tata Teja

  • Rahul Das

    Rahul Das

  • Srinivas Aki

    Srinivas Aki

  • Saloni Anand

    Saloni Anand

  • Dhivya

    Dhivya

  • Sravya Gowrisetty

    Sravya Gowrisetty

  • Soumalya Chakraborty

    Soumalya Chakraborty

  • Monika Guwalani

    Monika Guwalani

  • Madhureema RoyMoulik

  • Ramesh Loganathan

    Ramesh Loganathan

  • Nischala Agnihotri

    Nischala Agnihotri

  • Varun Rastogi

    Varun Rastogi

  • Harshita Goel

    Harshita Goel

  • Nikita Kiran

    Nikita Kiran

  • Neha Mohsin

    Neha Mohsin

  • Ankur Mehta

  • Maddy Anand

    Maddy Anand

  • Ayyappa Nagubandi

    Ayyappa Nagubandi

  • Chandra Mouli Koduri

    Chandra Mouli Koduri

  • Divya Jyothi

    Divya Jyothi

  • Ayushi Pandey

    Ayushi Pandey

  • Saptarshi Roy Chaudhury

    Saptarshi Roy Chaudhury

  • Amita Sood

    Amita Sood

  • Surya Vallae

  • Ambika Asta

    Ambika Asta

  • Gunajit Haloi

    Gunajit Haloi

  • Manoj Surya

  • Anish Tadimarri

  • Sreekar Reddy

    Sreekar Reddy

  • Vana Korrapati

    Vana Korrapati

  • Priyanka Mechineni

    Priyanka Mechineni

  • GR Reddy

    GR Reddy

  • Vinita Surana

    Vinita Surana

  • Vineel Reddy Pindi

image title here

Some title