With this acquisition Livspace will expand the catalogue of designer looks for home owners and curated community marketplace for home designers. This move from Livspace comes within 2 months of acquiring another startup DezignUp.
Dwll.IN was founded by 2013 by Pankaj Poddar and Parikshat Hemrajani. Pankaj Poddar has rich experience in international business and financial services in the areas of strategic formulation, financial analysis, budget preparations and monitoring.
Pankaj Poddar graduated in Bachelor of Engineering in Computer Science from Visvesvaraya National Institute of Technology in 1998. In 2001 he went to do his Masters of Science, Computer Science from Virginia Polytechnic Institute affiliated State University. He holds Masters of Business Administration in Finance & Strategy from Indian School of Business in 2010.
He started his career as Team Lead in Computer Associates in 2001 and became Associate Vice President in Bear Stearns in 2005. After a stint of 2 years he became Senior Consultant for Financial Services and Business Advisory for Ernst & Young in 2010. After working for 2 years in the company, he co founded Dwll.IN in 2012.
Parikshat Hemrajani is co founder of Dwll.IN. He graduated in Bachelor of Science in Electrical and Computer Engineering from Rutgers, the State University of New Jersey – New Brunswick in 2003. Parikshat has done Master of Business Administration in Marketing, Strategy and Leadership from Indian School of Business in 2010.
Parikshat started his career as an Analyst in Accenture in February 2004. He moved on to become Consultant in September 2006 in the company. He worked with many clients like Ricoh, Microsoft, Red Hat, Telstra, AT & T and Global Crossing. After a long stint of almost 8 years he co founded Dwll.IN.
On the other hand Livspace is based in Bengaluru provide end to end home design and decor service provider founded Anuj Srivasatava, Ramakant Sharma and Shagufta Anurag in 2012.
After acquisition of Dwll.IN Anuj Srivasatava, Chief Executive Officer and Co founder of the company said, “The Dwll.in team brings deep insights into the workings of the home design industry in India. We look forward to working with these designers to create the biggest library of designer looks in the country and offer the same to tens of thousands of homeowners across the country.”
Parikshat Hemrajani and Pankaj Poddar, co founders of Dwll.IN after acquisition said “The synergies of the technology, design strength, and execution capabilities of Livspace along with the designer network and consumer-centric focus of Dwll.IN’s platform will go a long way in revolutionizing the home design space. We believe in the mantra, ‘If you want to walk fast, walk alone but if you want to walk further, walk together’. And we’re definitely looking to walk, not just further but very far.”
The home decor space is poised to grow at phenomenal pace and market is estimated to be close to $30 billion dollars. Half of this market space is in new home segment; hence Livspace is concentrating home design and decor space. Livspace competes with a number of home decor and furnishing startups such as BedBathMore, Pepperfry and Urban Ladder. This is apart from the onslaught of Flipkart, Snapdeal and Amazon.
Livspace need to create niche space for its customers and the company is the path of expansion plans; the company is closely with its business partners that include channel partners, developers, and online real estate portals. They have hired engineers, designers, data scientists and marketing professionals to be part of their growth story.