Ashish Goel: Bringing Innovation to the Furniture Market with Urban Ladder.
- Urban Ladder, under Ashish Goel’s leadership, raised $21 million in 2014 and over $12 million in 2018, culminating in its acquisition by Reliance Retail in 2020 for approximately ₹182 crore.
- Founded in 2012 with $1 million in initial funding from Kalaari Capital, Urban Ladder expanded its presence across multiple cities in India, competing with startups like Pepperfry and FabFurnish.
- Ashish Goel, an IIT Bombay and IIM Bangalore graduate, led the company to improve logistics, focus on three key cities, and use data analytics to tailor its offerings.
Ashish Goel, the CEO and Co-Founder of Urban Ladder is an inspiring figure in India’s e-commerce landscape. Under Ashish’s leadership, the company expanded its presence to multiple cities across India, with a reputation for quality and style. The company raised $21 million in funding in 2014 from Steadview Capital, followed by an investment from Ratan Tata, one of India’s most respected business leaders. In 2018 alone they raised over $12 million from multiple investors with the main goal to establish as many offline stores as possible Urban Ladder’s growth attracted the attention of Reliance Retail, which acquired the company in 2020 for approximately ₹182 crore, marking a major milestone in Ashish Goel’s entrepreneurial journey.
Ashish Goel was born on 25th October in Ghaziabad. He earned a dual degree in electrical engineering from IIT Bombay. He later went on to do an MBA from IIM Bangalore, two of the most aspired and prestigious institutions in India. He later joined McKinsey and Co but left after 4 years to join his friend’s company ‘Amar Chitra Katha’ and after a successful stint of 4 years there, he left it to create Urban Ladder.
Urban ladder came into existence through an almost random incident. Ashish and his friend Rajiv Srivatsa faced some difficulties while trying to furnish their apartment in Bangalore, and as most brilliant minds do, an idea to create an online platform that would offer high quality, stylish, and affordable furniture that can cater to the needs of urban population was brought to the table. Urban Ladder finally started in 2012 with $1 million as an initial investment from Kalaari Capital and a 10-member core team based out of Bangalore. Initially, it had to face stiff competition from other startups like Pepperfry and FabFurnish. But soon it grew as a distinct brand by relying on “Superior product design” and focus on “Customer Satisfaction” and it grew a customer base in a short time.
In its early days, the company also faced logistical challenges, with delayed deliveries and product damage being common complaints. Rather than expanding too fast, Ashish and his team decided to scale back operations and focus on improving services in three key cities: Bengaluru, Mumbai, and Delhi. They enhanced packaging standards, which drastically reduced product damage during transportation
Urban Ladder also tried some unique methods to increase the interest of customers in their products like assigning unique names to different furniture pieces, named after famous explorers or places. This gave the brand a youthful and modern image that fitted well with the first-time buyers belonging to the new generation. Urban Ladder’s innovative approach helped it gain the recognition that will pave the road for its speedy growth later.
Over the years Ashish witnessed qualitative growth in his career and perspective towards business and life. He believes that happiness should be the result of success. Hailing from an ordinary family in Ghaziabad, he worked hard to reach where he is today with his determination and passion for growth. His story is extremely motivating for people who believe hard work can lead to success and Ashish shows, that it’s possible.
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