#IndianStartupData : Grabhouse Recorded INR 25 Lakhs Revenue Over 30 Crores Loss

Grabhouse recorded Rs 30.37 crores loss, a massive 15X increase compared to the last year.

Grabhouse has been acquired by Quikr.

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-data

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.

grabhouse-revenue

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.]