UrbanClap Gets Investment From Ex-Flipkart Exec

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

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

And with managements hesitant to go ahead with long-term capital investment, the easier course was to borrow and improve advertising (and, of course, repurchase stocks). 100 million professional athlete and celeb, multi-million money annual pay deals for professional as well as college coaches. The fortunate few have loved incredible pay inflation, increasing 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 strong case can be made that “media” has been one of the most inflated and distorted sectors throughout this Bubble period.

For me, “media” and everything the related systems evolved into the poster-child for the U.S. Bubble – for “Core” Bubble distortions and imbalances – for the maladjusted U.S. “services” Bubble economy structure. And everything absolutely requires ongoing monetary inflation. For some time now I’ve viewed the “media” Bubble as vulnerable to an inevitable tightening of financial conditions. But the Given and global central bankers for seven years have stuck with ultra-loose monetary policy almost. This ensured the “media” Bubble inflated to self-destructive extremes. In short, 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 on consequence of the deteriorating backdrop. And as Credit conditions begin to tighten more generally, advertising and marketing budgets are affected. Perceived wealth will evaporate, M&A appeal will go away and this bastion of Credit spending and development 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 currently 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 a few of the large fund complexes.