PepperFry is the biggest furniture e-commerce company in India, in terms of capital raised as well as market share. The CEO Ambareesh Murty is another alumnus of the first eBay team, which set up shop in India. Murty’s love for Mumbai has helped it buck the trend and stay in the city while most of its peers moved to Bengaluru. It beat its competition, Urban Ladder, to open its first studio in the country.
- $160 million
Norwest Venture Partners
What has PepperFry been up to, in the last year?
The highest valued startup in Mumbai had an interesting year. It raised two rounds of funding worth $130 million. It plans to launch 10 more “concept stores” by the end of 2016. In March, the furniture startup also said it would not just break even but also make profits “by the end of the year”. It wasn’t clear if PepperFry meant FY16 or CY16. Murty also claimed that his company has a gross margin of 45%. Let’s see the craftsmanship.
Rs 98 crore: The revenue recorded this year. Up from Rs 25 crore in FY15, which makes it an almost four-time jump.
Rs 23.59 crore: Salaries paid to its employees in FY16. In FY15, PepperFry paid Rs 15 crore in wages.
Rs 1.17 crore: Salary Ambareesh Murty pays himself.
Rs 75.58 lakh: Salary earned by Kashyap Vadapali the company’s CMO. And with good reason.
Rs 154.94 crore: Advertising expense in FY16. More than two times of what it spent last year.
Rs 2.16 lakh: Spent by PepperFry every day delivering 671 orders in FY16. With average order value of Rs 4,000 and transportation cost of Rs 14.51 crore.
Rs 154 crore: Loss recorded by PepperFry in FY16. Up from Rs 80 crore in FY15. So, the aim to be profitable could hopefully mean CY16. Let’s see if Murty can reach the standards he set for himself.