Green shoots for Urban Ladder: reports first profitable months in 7 years

When Urban Ladder came into existence in 2012, it was one of the first organised online furniture retailers ready to shake up the $17 billion furniture market of which 90 per cent is in the unorganised sector. Since then, the founders – Ashish Goel and Rajiv Srivatsa who were classmates at IIM-Bangalore, have seen a lot of highs and lows and seven years later, Urban Ladder is just beginning to see some green shoots, having turned profitable for the first time in June and July 2019.

“We hit our first profitable months in June and July 2019, coincidentally timing with our seventh-anniversary celebrations. We reduced cash burn from ₹4 crore plus in March 2019 to positive ₹30 lakhs in June 2019. We hope to continue to generate profits for 7-8 months of this year to even out losses incurred for the first two months (April & May) of this fiscal and are targeting IPO by March 2021” Rajiv Srivatsa, co-founder and Chief Technology and Product Officer, Urban Ladder told BusinessLine, a day after he announced that he is leaving the company he co-founded with Ashish Goel in 2012.