How Housejoy got lost
A lack of focus, a slew of leadership changes, and hands in multiple businesses derailed it. The company now has a new plan for recovery
2 August, 2021•15 min
0
2 August, 2021•15 min
0
Getting your Trinity Audio player ready...

Why read this story?
Editor's note: On the phone, Vinay sounds distraught. A Bengaluru resident, Vinay has been waiting for a year and a half to get his duplex house built. But in all this time, not a single brick has been laid. And the company responsible for the same is the home services startup Housejoy. In December 2019, Vinay and his brother had answered an ad by Housejoy. “We gave them a call and eventually, signed an agreement for building a duplex house within nine months for about Rs 60 lakh,” he says. “We were told that Housejoy will be taking care of the entire process and all we had to do was make payments on time.” Cut to June 2021: “There was no clarity on the starting date of the project. We were asked for money for materials and manpower, but discovered that no work had commenced. The contractors assigned kept changing and complaining about the lack of payment. Even a shed on the site was not pulled down,” says Vinay. Housejoy, on the other hand, blamed the COVID-19 pandemic, lockdowns and multiple other …
More in Internet
Internet
Bravado, IPO and OYO
A debt-heavy global pivot to modest motels and accounting-led profits define the company now heading to Indian public markets.
You may also like
Internet
Inside the math of instant help startups
Millions of VC dollars are being splurged to service the last-minute needs of Indians—little revenue, increasing cash burn and far too many variables. At what point does it all come together?
Internet
VC-funded startups are tempting women to join the instant house help business. Can it last?
In India’s instant house help sector, dominated by Snabbit, Pronto and Urban Company, domestic workers have nothing to lose and everything to gain. At least, for the time being.
Internet
Swiggy sounds the alarm bells on quick commerce
Amid an irrational competition brewing in India’s quick-commerce sector, the food and grocery delivery company seems to be taking a far more conservative approach compared to its peers, despite having Rs 16,000 crore in the bank.







