Pepperfry Appoints Co-Founder Ashish Shah As CEO, Following Ambareesh Murty's Sudden Demise
Pepperfry, a furniture retailer, has named co-founder Ashish Shah as CEO, shortly after the death of the company's other co-founder, Ambareesh Murty, last month.
“The best tribute to Ambareesh will be to build on the foundation laid by us and fortify Pepperfry's position as India’s leading furniture and home products company, " Shah said in a statement.
Shah co-founded Pepperfry with Murty in 2012 and served as its chief operations officer. Murty, 51, died of a heart arrest on 7th August in Leh, Ladakh.
“Pepperfry has been committed to enhancing the way people create homes, and I am honoured to lead this team of individuals who share this passion,” he added.
The company operates a furniture and home goods e-commerce platform. Pepperfry has a presence in over 500 locations and more than 90 studios spanning 100+ cities in India, thanks to its online virtual library and in-house supply chain.
Furthermore, the business has received 23 million dollars in capital from current owners, which include institutional investors and family offices. Norwest Venture Partners, Goldman Sachs, Bertelsmann India Investments, State Street Global Advisors and Pidilite Industries, Fevicol's parent company, have all invested in the company. Since its start, the company has raised around 245.3 million dollars (approximately Rs 1,770 crore).
