Housing spent close to 120 crores for the aggressive Lookup campaign. The company has now brought in Jason Kothari as the CEO, who is focusing more on revenue side of things and has also culled a few areas which weren’t core to Housing (followed by massive layoffs). Housing has raised $139.5M in total.
This is a revenue growth of more than 200% from INR 7.5 Crore in the previous fiscal. Losses nearly tripled from INR 30 crores in the previous fiscal. In comparison, it close competitor Urban Ladder had reported a revenue of INR 19 crores and a loss of INR 58 crores in the same period.
The company reported revenue of INR 11.6 lacs against a loss of INR 2.1 crores. The revenue comprises the delivery fees charged to restaurants and ‘e-commerce revenue’. The biggest expense for the company was the employee expense at INR 1.3 crores.