Urban Company Business Model: Enhancing Urban Living
Are you one of those who are struggling with everyday problems like searching for a beautician, a plumber, a mechanic, a yoga instructor, a lawyer, or a counselor? If your answer is yes, then Urban Company is going to help you in many ways. In this blog, we will discuss the Urban Company Business Model and Urban Clap Services. We will also get to know how Urban Clap services work and what they do for us. How they are useful for us in our everyday problems. Let’s delve into the Urban Company Business Model.
Towards Urban Company Business
Urban Company is an online platform that offers different kinds of services at home. It was founded on November 10, 2014, by Abhiraj Bhal, Varun Khaitan, and Raghav Chandra. People use their platforms to book different kinds of services like beauty treatments, massage therapy, haircuts, cleaning, painting, etc. They provide these services right to their doorsteps at the time chosen by customers. They try to give customers a standardized, high-quality service experience.
To give customers this experience, they send professionals to do their work. They have highly skilled service partners. Urban Company Business gives their employees proper training, products, tools, financing, and many other things required to maintain the quality of their services.
Success Story of Urban Clap to Urban Company
Now that Urban Clap has become an Urban Company, it is among the leading startups in India. Let’s read about its success story in brief. Without going outside, you can now take services like massages and salon visits at home. It has a very simple background. Urban Company is the largest online service provider in India. Currently, the Urban Company Business Model is present in Singapore, the UAE, and Australia.
Firstly, the main motive of Urban Company is to empower millions of professionals. Secondly, to give services to customers at home with an experience that they have never experienced before.
Urban Company Business Model
Urban clap services use B2C and B2B models of business. They use different ways to generate income. They earn money through commissions, reverse auctions, and ads or commercials. Now you will be curious to know how much their employees earn. They too have different options for getting payment on the basis of the services. Let’s know how the company makes money.
Fixed-Charge Services
Whenever the user books a service like a beautician, cleaner, or anything else, They pay on the app, and the urban clap services get their commission. They already set fixed commissions according to their services.
Without Fixed charges, Services
Firstly, the company makes sure that the users do not have to pay until they are satisfied with the services provided by them. For this, the service provider has to pay a fee to accept the customer’s request. Secondly, if the service provider satisfies the customers and gets paid for the service after this, the monetization will be worth it.
All About Urban Clap Services
Funding Raised by the Urban Company Business Model
The company’s latest funding was raised on June 2, 2021, from a Secondary Market round. Urban Company has raised a total of $445.9 million in funding over 12 rounds. At first, their funding was around $1.6 million, and $ 10 million in rounds 1 and 2. Respectively, they have raised a good amount of funding in 12 rounds.
Investors of Urban Clap Services
Currently, the company has 19 institutional investors, including Accel, Elevation, and Trifecta Capital. Accel is the largest institutional investor in the Urban Company business model. There are many other investors in the company that are supporting it financially. After seeing the speedy growth of the company, investors are increasing day by day.
Further Plans of the Urban Company
Firstly, urban clap services are trying to focus more on artificial intelligence and technology. This will help them maintain their services with the latest update. It will give them new methods for the development of their business. Secondly, They will invest more in research and development. This part is very important for every business. To stay connected with upcoming information, it becomes important to invest in research and development.
Lastly, they are trying to improve the quality of the services they are providing. They are trying to improve themselves in every possible way. Gradually, it is becoming a top startup in India.
Way Forward
On the way forward, the Urban Company Business Model is emerging as a game changer in the market. Their online platform for services is working effectively and efficiently. They are using a customer-centric approach for their growth. At first, it was a small startup, but now it is giving tough competition in the market. It has set standard goals to achieve.
The urban company’s business is raising excellent funding, which is helping them financially. They are focusing more on improving their employees skills. Urban clap services are attracting many leading investors to the market. Emerging as an inspiration for many new and small startups.
