ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย Urban Company
ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย Urban Company
Rs 49, a maid at your doorstep in 15 minutes. Sounds wild? Thatโs exactly what Urban Companyโs launched in May - Insta Maids.
But the journey started with a much simpler problem: Why is booking a plumber harder than ordering a pizza?
1) ๐ช๐ต๐ฎ๐ ๐ฝ๐ฟ๐ผ๐ฏ๐น๐ฒ๐บ ๐๐๐ฎ๐๐ฒ๐บ๐ฒ๐ป๐ ๐๐ต๐ฒ๐ ๐ฎ๐ฟ๐ฒ ๐๐ฟ๐๐ถ๐ป๐ด ๐๐ผ ๐๐ผ๐น๐๐ฒ?
โก๏ธ In 2014, 3 friendsโAbhiraj, Varun and Raghav decided to take on highly disorganized local services market in India.
โก๏ธ They saw that home services space in India was chaotic and unorganized.
โก๏ธ Customers often struggled to find a trustworthy plumber, beautician, or electrician๐ ๏ธ
โก๏ธ Skilled professionals also had no stable source of income and lacked platforms to build a reputation.
2) ๐๐ฟ๐ฎ๐ฐ๐ธ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐๐ผ๐ฑ๐ฒ ๐ผ๐ณ ๐ฎ ๐ฆ๐ฐ๐ฎ๐๐๐ฒ๐ฟ๐ฒ๐ฑ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ฝ๐น๐ฎ๐ฐ๐ฒ
โก๏ธ UrbanClap, a tech-driven platform was launched for on-demand home services.
โก๏ธ Company did strict background checks, onboarded verified professionals to ensure customer satisfaction.
โก๏ธ A rating and review system helped build trust and accountability from day one.
โก๏ธ Launched at a time when smartphones were booming, urban lifestyles were changing, and people were ready to pay for convenience.
3) ๐๐บ๐ฝ๐ผ๐๐ฒ๐ฟ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐๐ถ๐ด ๐๐ฐ๐ผ๐ป๐ผ๐บ๐
โก๏ธ Ensuring good earning for Service Professionals. The top 20% of partners earned an average of โน38,263 per month in Q3 FY22 .
โก๏ธ Providing life, accidental, and health insurance to all professionals free of cost in India.
โก๏ธ Frequently coming up with training and upskilling programmes.
โก๏ธ Launching the Partner Stock Ownership Plan (PSOP), allotting company stock options worth โน150 crore to gig workers.
4) ๐ฅ๐ฒ๐ฏ๐ฟ๐ฎ๐ป๐ฑ๐ถ๐ป๐ด ๐ฎ๐ป๐ฑ ๐ผ๐๐ต๐ฒ๐ฟ ๐ฝ๐ถ๐๐ผ๐๐ฎ๐น ๐๐๐ฒ๐ฝ๐
โก๏ธ Rapidly expanded to include appliance repairs, cleaning and more catering to broad customer base.
โก๏ธ By 2018โ19, UC entered international markets like UAE and Australia.
โก๏ธ Continuously upgraded the appโs booking experience, real-time tracking, transparent pricing.
โก๏ธ Rebranded from UrbanClap to Urban Company because Globally expanding and in some countries clap had a negative connotation.
5) ๐ก๐ฎ๐๐ถ๐ด๐ฎ๐๐ถ๐ป๐ด ๐๐ผ๐๐ถ๐ฑ ๐ญ๐ต ๐ฃ๐ฎ๐ป๐ฑ๐ฒ๐บ๐ถ๐ฐ
โก๏ธย Implemented stringent safety measures, including PPE for professionals and contactless services.
โก๏ธ Accelerated digital adoption to facilitate remote bookings and virtual consultations.
โก๏ธ Unveiled newer services such as menโs haircut and disinfection that saw a lot of demand.
โก๏ธ Rolled out Rs 20 crore in advances to its beauty partners to support them.
6) ๐๐๐๐๐ฟ๐ฒ ๐ผ๐๐๐น๐ผ๐ผ๐ธ ๐ผ๐ณ ๐๐ต๐ฒ ๐๐ผ๐บ๐ฝ๐ฎ๐ป๐
โก๏ธย Company has received shareholder approval to raise โน528 crore through an IPO.
โก๏ธ Improving financials with a 38% year-on-year increase in net revenue and a 4% profit before tax ๐
โก๏ธ Expanding in 100โ300 cities tier 2 cities.
โก๏ธ New categories such as wall panels, smart locks and sustainable decor.ย