Launched in July 2013, Grabhouse offers a managed rental homes model which comprises of a range of fully furnished, ready-to-move-in apartments across 4 major cities.
Grabhouse raised $10mn from Sequoia and Kalari in 2015 and here is a quick look at the company performance.
Grabhouse recorded a revenue of 25.6 lakhs in FY15-16, as opposed to 18.1 lakh in FY14-15.
As far as losses are concerned, the company recorded INR 30.37 crores loss, a massive 15X increase compared to the last year. The biggest line item that accounted for the expense wasn’t marketing cost, but employee benefit.
The $10mn funding was in tranches, based on performance.
Post acquisition by Quikr, Grabhouse will continue operations as an independent brand for managed rental homes (question : is it really that strong a brand to let it live on its own, post acquisition?).
As part of the overall integration process, Grabhouse founders and entire team will move to the Quikr HQ (FYI: in the past, there were questions raised on Grabhouse’ traffic acquisition strategy).
[About #IndianStartupData : This is an annual series that breaks down the #PRshit of companies to actual numbers and importantly, more useful contexts.]