In July 2012,
At a time when the idea of buying furniture online was unthinkable, Goel and Srivatsa not only took a big leap, but also were confident that they would get people to buy furniture online.
And, two years later, an investment by Ratan Tata, the chairman emeritus of Tata Sons in their venture gave the duo the boost that they needed.
Recalling that moment in 2014, Rajiv Srivatsa, COO and co-founder talks to Business Insider about how
“Ratan Tata investing in Urban Ladder was definitely one of the high points for us. Infact, we were the second e-commerce venture he invested in,” says Srivatsa.
According to him, what worked for them was the fact that Ratan Tata’s philosophy of building a brand in India coincided with UrbanLadder.
“He believes in a brand holding everything end to end, right from the supply chain to delivery and holding the design internally. These are also the things that we as a barnd identify with,” explained Srivasta.
When asked what Ratan Tata liked about UrbanLadder the most, Srivatsa was quick to reply, “He liked our attention to detail- the nuances in our design the most. I think that kind of took him back to the times when he was into architecture. That is something he was relate to the most”
His personal interest in furniture and his background in architecture were a bonus, Srivatsa believed.
Ratan Tata holds a degree in architecture from Cornwell University. Prior to UrbanLadder, he had also invested in Snapdeal.
Apart from Tata, UrbanLeader also boasts of investors such as SAIF Partners, Kalaari Capital, Steadview Capital and Sequoia Capital.
Image credit: Indiatimes