Getting Ratan Tata on board is an achievement in itself for any startup founder. One lucky duo of IIT graduates who failed in their first venture, got Ratan Tata’s support in their second company. The duo now owns over Rs 200000000000 company.
Ratan Tata is one of the most popular Indian billionaires across the globe. With a massive fan following on social media platforms, Ratan Tata is often celebrated for his wisdom, philanthropy and sharp business skills. The Chairman Emeritus of Tata Sons Ratan Tata took his company to new heights and also invested in a range of companies. Getting Ratan Tata on board is an achievement in itself for any startup founder. One lucky duo of IIT graduates who failed in their first venture, got Ratan Tata’s support in their second company. The duo now owns over Rs 200000000000 company that has now become a household name in India. The duo we are talking about includes Abhiraj Bhal and Varun Khaitan. They are the founders of Urban Company, formerly known as UrbanClap. Abhiraj Bhal and Varun Khaitan met each other while pursuing their graduation at IIT Kanpur. Although both of them went on to pursue different career paths after graduations, their friendship continued outside the college walls.
Varun joined semiconductor giant Qualcomm after his graduation, on the other hand Abhiraj opted to earn an MBA degree from Indian Institute of Management (IIM) Ahmedabad. He then landed at the Boston Consulting Group which his IIT friend Varun also joined a few months later. Both had one thing in common which was passion for entrepreneurship. In fact, before finding success with their current venture, Varun and Abhiraj had founded on-the-go streaming service Cinemabox. However, their first venture lasted just six months.
After some time, the IIT graduate duo met with Raghav Chandra who also had a failed venture under his belt. The three of them were able to find an opportunity in the home services sector and then went on to start Urban Clap. With initial success, the company was able to make a mark in the industry. After being in business for around a year, the startup got undisclosed investment from billionaire Ratan Tata. With over 50 lakh customers and a 30,000-strong service professional network, the company currently has a valuation of more than Rs 20000 crore.
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