Urban Ladder Acquired By Reliance Retail For Rs 182 Crore

Urban Ladder, incorporated on 17th February 2012 in India, is a digital platform in the business of providing home furniture and decor products.

With an audited turnover of ₹434 Crore, ₹151.22 Crore and ₹50.61 Crore, the net profit/loss of the company was ₹49.41 Crore, ₹118.66 and ₹457.97 Crore in FY 2019.

Sited in several cities with a chain of retail stores across India, it is recently acquired by Reliance Industries Limited at 96% state after the company’s struggled with the online furniture market.

Reliance earlier captured a 60% stake in Netmed’s parent firm Vitalic for $83.2 Million.

The Bengaluru-based firm raised $50 Million by Rocket Internet, but unfortunately, Rocket was sold for less than $2 Million.

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Urban Ladder has previously raised $105 Million from Sequoia Capital, SteadView, SAIF Partners, and Kalaari Capital but the company has been toiling to find new investors while the earlier investors have dismissed their Investments.

RIL has the possibility of acquiring the remaining 4% stake. It has suggested to pervade $10.06 Million in Urban Ladder by December 2023, covering the state from 96% to 100%.

In the same investment, the groups digital and initiatives regarding commerce will drastically change and enhance the user engagement and their experience throughout the offerings while widening the space for consumer products which will be provided by the group.

Urban Leaders co-founder, Rajiv Srivastava, left the firm last year and joined Antler, a private equity firm, as The Head of India and Local Partner.

Urban Ladder lost its market value due to several reasons including supply chain management, poor quality of furniture, etcetera.

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Kritika
Student with ambitions, writer with ideas.
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