A former Indian Goldman Sachs executive is building the “Netflix of furniture”
This is the second in a series of Q&As tracing the journeys of startups that have become household names in India.
In 2010, when Ajith Mohan Karimpana decided to return to India after spending over five years with Goldman Sachs in the US, he lost thousands of dollars in selling the furniture he had accumulated over the years. In retrospect, though, that loss was pretty small in comparison to what Karimpana gained from the episode: the idea for what is now a multi-million dollar startup.
“I had some $5,000 (Rs3,59,952) worth of furniture in the US that I could manage to sell only for some $300 even after listing it for sale for over a month. When I came back to India, I had to repurchase everything from the local stores and I had no clue about furniture, so I just bought whatever looked good to me. In the first home shift, some of the furniture started breaking and I realised I had not made a great purchase,” Karimpana told Quartz. “So I started questioning this concept of carrying furniture around. And that is how the idea of furniture subscription was born...