Urbanladder founded in 2012 by Ashish Goel & Rajiv Srivatsa is an online furniture seller. Three senior-level executives vacated their position after Flipkart and Snapdeal witnessed such exits.
The exit includes-
Kartikeya Misra the Vice President of the company in Product & Design department,lead the online product with the engineering team. Vishwanath V director of brand management and Sujan Punuru director of sales. They served the company for 1 year 11 months, 10 months and 1 year 3 months respectively.
“It is a very natural and regular attrition number for a company that has been in business for almost five years now”, an Urban Ladder spokesperson said in a response to an email sent by ET.
The company has used a lot of expenses to set up the top level management, ₹1 crore was their income. Misra now leads the product management at Walmart India, Vishwanath is CMO at VOONIK and Punuru a Freelance Business Consultant.
Ecommerce Giants like Flipkart & Snapdeal are nonetheless to have witnessed such exits., Flipkart saw the three top level executive leave soon after the former CEO Binny Bansal left. Saikiran krishmamurthy(Head of Ekart), Surojit Chatterjee(Sr.VP of product management) and Samardeep Sunanda (Chief Marketing Officer) includes the three executives. Snapdeal saw Abhishek Kumar( Head of Corporate Development) & Sandeep Komaravelly (Sr.VP) leave recently. Govind Rajan(CEO) resigned Freecharge a portal backed up by Snapdeal.
Urbanladder has raised $20Mn in a Series B funding by Steadview Capital. Recently it secured ₹102 crores in a Series E round of funding raised from Kaalari Cap, Saif Partners, Steadview & Sequoia Capital along with new investor LTR & ABG Cap. It claims to have offered over 1,000 products across 25 categories and cover 25-30 cities.