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Ikea-backed Livspace names new CEO, moves HQ to India
Livspace, a home interior and renovation platform, has appointed co-founder Ramakant Sharma as its new CEO.
Anuj Srivastava, the company’s original CEO since its inception, will now serve as chairman of the board.
Sharma will oversee daily operations, while Srivastava focuses on the IPO process, fundraising and strategic growth.
Both co-founders will continue to serve on the board.
The company is also relocating its headquarters from Singapore to India.
Founded in 2014, Livspace provides a marketplace for home design solutions. It operates in more than 50 cities across India, the Middle East, and Singapore.
It became a unicorn in 2022 after securing US$180 million in a series F funding round.
To date, Livspace has secured over US$433.38 million from investors like KKR & Co, Ikea, and Peugeot Invest.
This leadership shift comes after a series of cost-cutting measures, including the layoffs of over 100 employees in 2023, aimed at extending its financial runway.
Recent Livspace developments
| Timeline |
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15-Sep-2023 🏡 KKR-backed Livspace posts 85% revenue growth, targets profitability in FY 24
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03-Jul-2023 🛠️ Livspace, Singapore Land Authority deny claims of improper contract awarding
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| 10-Oct-2022 💼 KKR-backed Livspace earmarks $100m for acquisitions |
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