India: Tiger-backed UrbanClap to wind up its non-core businesses

Photo by Kris Atomic on Unsplash

Home service startup UrbanClap is looking to wind up its non-core businesses such as wedding services and photography in a bid to ramp up its focus on two key categories, beauty and home, according to a report by The Economic Times.

Currently, the beauty and home segment contributes as much as 40 per cent to revenue of the Gurugram-headquartered company, backed by investors such as Tiger Global Management, Steadview Capital and Vy Capital.

Going forward, UrbanClap is reportedly looking to introduce a luxury salon at home service at a time when the beauty and wellness industry in India is increasingly gaining steam in the backdrop of rising disposable incomes and changing lifestyles.

According to data available with KPMG, the market touched Rs 80,370 crore in the 2017-2018 fiscal.

For beauty and home categories, UrbanClap plans to have a full-stack approach wherein it will individually monitor the ‘supply’ on its platform.

The startup made earlier in August when it raised as much as $75 million in a Series E round. Immediately before that, it secured funding to the tune of Rs 1.5 crore in July from former Flipkart CPO Mekin Maheshwari and Avaana Capital Founder Anjali Bansal.

Established in November 2014, UrbanClap is currently present in 14 cities in India such as Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune, Ludhiana, Lucknow, Vadodara and Visakhapatnam). Besides, it also operates two international markets Dubai and Abu Dhabi.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.