Urban Company's UAE operations are expected to turn profitable soon, while other international markets like Saudi Arabia and Singapore may take longer.
New Delhi, May 17 (PTI) Doorstep service provider Urban Company expects its operation in the UAE to become profitable soon while other international markets -- Saudi Arabia and Singapore -- may need more time, a senior company official said on Friday.
While speaking at the CII Annual Business Summit, Urban Company (UC) Co-Founder Abhiraj Bhal said the foray in international markets takes focus away from India market and advised startups to do "reasonable justice to India before venturing out".
"UAE was our first market outside of India. We have been there for about 5 years and we have done fairly well there. Market is also at the brink of profitability. Kingdom of Saudi Arabia (KSA) and Singapore are a much younger market for us, still in investment mode," Bhal said.
He said India is a huge market and is growing faster than any other market.
It is challenging for a company to set up business in a "do it yourself market" like the west but the business has been successful in countries that have a cultural orientation of "do it for me", he added.
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