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, 202115 min
0
How Housejoy got lost

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 …

You may also like

Business
Story image

Indian consumer startups end 2025 on a high. Next year may not be so easy.

Stories of great outcomes and easy funding kept the sector on its toes. The momentum is expected to continue going into 2026, but startups may need to rethink their strategy.

Internet
Story image

FabHotels pivoted to corporate travel for survival. Can it grow?

The challenges of running a budget hotel chain in India forced the decade-old company to quietly shift its focus to a travel management platform for corporate travellers. Now it must face challenges of another kind.

Business
Story image

Infra.Market is a hamster wheel looking at a make-or-break IPO

The construction material supply firm’s scale and profitability may appear shiny, but hide a stark truth. Its use of equity to fund working capital is playing with fire when bigger fish are eyeing its business.