Economy
Snabbit And Urban Company Battle In Instant House-Help Market Amid Rising Scale And Losses
Livemint1h
THE BRIEF
1
Snabbit reported 64 lakh house-help jobs with an net transaction value of ₹72 crore in Q2 FY27, while rival Urban Company's InstaHelp fulfilled 62 lakh orders worth ₹71 crore.
2
Snabbit CEO Aayush Agarwal stated that the company reduced its loss per job from ₹1,500 to below ₹200, though its Q2 segment EBITDA loss stood at ₹142 crore.
3
Urban Company reported an adjusted EBITDA loss of ₹174 crore for InstaHelp due to competitive pricing, while its board approved a fresh capital raise of up to ₹2,500 crore.