The story of Urban Company's co-founder Varun Khaitan
Varun Khaitan's education and early life
Varun was born into a traditional Marwari business family. He was expected to follow the legacy of the business that had run in his family for generations. But from an early age, Varun knew he wanted to carve his own independent path, one that wasn't bound by convention. He completed his schooling. In 2009, he graduated from IIT-Kanpur, where he not only built a strong academic foundation but also developed a lasting friendship with his classmate, Abhiraj Singh Bhal. That bond later grew into a powerful entrepreneurial partnership.
Varun's first professional job was with Qualcomm, a leading technology research firm. Interestingly, he was the only undergraduate on the team (others were PHd holders). At Qualcomm, he worked on cutting-edge wireless technologies and vividly remembers the thrill of realizing that these innovations would soon touch the lives of millions of users, making their day-to-day experiences easier.
Later, Varun moved to the Boston Consulting Group (BCG) in the U.S.; this job came with prestige, stability, and financial comfort. Everything seemed perfect. He had achieved much of what he had once aspired to in the early stages of his career as a student. Yet, amid the structured world of consulting, he felt a growing sense of emptiness, a void that came from not creating something of his own.
In long, late-night conversations with his friend Abhiraj, Varun often spoke about India's booming e-commerce sector and the exciting wave of startups reshaping the country. Both were fascinated by the change sweeping across industries, but fascination soon gave way to frustration. "How long will we just talk about it? When will we actually build something?".
Finally, the duo decided to act. They quit their well-paying, secure jobs and chose the uncertain but exhilarating road of entrepreneurship. For Varun, it was not just a career move; it was the fulfilment of his long-held dream to return to India and create something meaningful, something that could transform lives at scale.
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First Venture
Their first entrepreneurial experiment was Cinema Box, which eventually didn't succeed, but Varun didn't view it as a failure. Instead, it gave him a deeper understanding of customer adoption and the importance of timing in product launches.
Second Venture
Their first entrepreneurial experiment taught them to find a real problem in daily life real problem. While reflecting on what to build next, they kept noticing how disorganised and unreliable the local home services market in India was. Customers struggled to find trustworthy professionals for basic needs, such as plumbing, beauty, or repairs, while skilled workers lacked a structured platform to find clients. Both friends discussed this gap extensively, and when they connected with Raghav Chandra (who was working on his own startup, Buggy.in), the three realised they were all circling the same pain point. That's when they decided to channel his energy into solving this real-world problem rather than chasing niche ideas. This is how the concept of UrbanClap was born in 2014.
They tested the idea by putting it on campaigns to gauge interest and validate their hypothesis about the demand for convenient, on-demand home services. They got a positive response.
Varun leaned on his structured thinking and corporate discipline. While Abhiraj focused on vision and execution, Varun brought in the financial rigour, operations mindset, and investor confidence necessary to scale. Together, they raised $1.6 million in seed funding from Accel Partners and SAIF Partners, transforming a modest experiment (they started with just ₹4,000 in Facebook ads) into a serious business proposition.
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As a co-founder, Varun's role has always been pivotal in shaping Urban Company's business and revenue model, from commission-based services to the bid-based system for specialists. His ability to blend structure with entrepreneurial agility allowed Urban Company to grow from a Delhi startup into a global marketplace.
Varun Khaitan's story shows that true success lies not in following tradition, but in daring to redefine it. From IIT-Kanpur to Urban Company, he proved that courage, clarity, and persistence can turn uncertainty into impact, building not just a business but a legacy of transformation.
Urban company Revenue
According to news articles, Urban Company reported revenue of Rs 1,144.5 crore in FY25, representing a 38% year-over-year growth. It turned profitable with a net profit of Rs 240 crore in FY25, aided by a deferred tax credit of Rs 211 crore. On a pre-tax basis, profits stood at Rs 28 crore.
Urban Company IPO
Urban Company has opened its ₹1,900 crore IPO, priced in the range of ₹98 to ₹103 per share. The issue consists of two parts: a fresh issue of 45.8 million equity shares valued at ₹472 crore and an offer for sale (OFS) of up to 138.6 million shares, amounting to ₹1,428 crore, where existing investors are offloading their stakes. The IPO Opening Date is September 9, 2025, and its Closing Date is September 12, 2025.
Also Read: The Story of Urban Company Founder Abhiraj Singh Bhal