UrbanClap Gets Investment From Ex-Flipkart Exec

UrbanClap Gets Investment From Ex-Flipkart Exec 1

UrbanClap is backed by traders like Steadview Capital, Vy Capital, SAIF Partners, Accel and Bessemer Venture Partners. NEW DELHI: Home services marketplace UrbanClap on Friday said former Flipkart executive Mekin Maheshwari and Avaana Capital founder Anjali Bansal have invested in the business. With this investment, Maheshwari and Bansal sign up for UrbanClap’s other angel investors, including Tata Sons Chairman Emeritus Ratan Flipkart and Tata CEO Kalyan Krishnamurthy, a declaration said.

Maheshwari, who has previously served as Chief People Officer and Chief Technology Officer at Flipkart and presently leading an NGO – Udhyam Learning Foundation, has invested Rs 50 lakh, it added. Bansal has spent Rs 99 lakh through her personal investment fund SAB Holdings. UrbanClap co-founder Raghav Chandra said. UrbanClap is backed by traders like Steadview Capital, Vy Capital, SAIF Partners, Accel and Bessemer Venture Partners. It currently has more than 20,000 specific service specialists (ISPs) on its system across categories such as beauty, plumbing related, appliance repair and servicing.

And with managements hesitant to go forward with long-term capital investment, the much easier course was to borrow and improve advertising (and, of course, repurchase stocks). 100 million professional athlete and celeb, multi-million money annual pay packages for professional as well as university coaches. The lucky few have loved incredible pay inflation, boosting national income and GDP on the way. Between inflated franchise values, inflated stock prices and inflated compensation, it’s just an incredible amount of perceived value propped up with endless advertising dollars. Indeed, a solid case can be made that “media” has been one of the very most inflated and distorted sectors throughout this Bubble period.

For me, “media” and everything the related technology evolved in to the poster-child for the U.S. Bubble – for “Core” Bubble distortions and imbalances – for the maladjusted U.S. “services” Bubble overall economy structure. And it all requires ongoing monetary inflation absolutely. For some time now I’ve viewed the “media” Bubble as vulnerable to an inevitable tightening of financial conditions. But the Fed and global central bankers for almost seven years have trapped with ultra-loose financial plan. This ensured the “media” Bubble inflated to self-destructive extremes. In a nutshell, there’s today extreme overcapacity for what’s an unsustainable Bubble in advertising expenses (more ad spending, more recognized wealth to invest on more advertisements).

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Now advertising spending has started to slow, an early consequence of the deteriorating backdrop. And as Credit conditions start to tighten more generally, marketing and advertising costs are affected. Perceived wealth will evaporate, M&A appeal will go away which bastion of Credit growth and spending will succumb to new realities. Let’s expand on the “Core of the Core” theme.

This week also provided additional support for the view that risk aversion is now moving decidedly toward the Core. Commodities losses – notably energy and valuable metals – are resulting in a significant exodus from commodity hedge funds. Moreover, commodity losses have hit some of the large finance complexes.