Ambareesh Murty, the dynamic co-founder of the popular online furniture store Pepperfry, suffered a sudden cardiac arrest and passed away in Leh, know about his age, family, wife and net worth
His demise at 51 has left the business and entrepreneurial world in shock. Here is more you need to know about the incident.
A tribute to a pioneering businessman like Ambareesh Murty
Ashish Shah, Pepperfry’s other co-founder, expressed his grief over the tragic loss of his friend and business partner. He took to Twitter to share the sad news, stating, “Extremely devastated to inform that my friend, mentor, brother, soulmate @AmbareeshMurty is no more. Lost him yesterday night to a cardiac arrest at Leh. Please pray for him and for strength to his family and near ones.”
Pepperfry Co-Founder Ambareesh Murty death reason, biography, age, family, wife, net worth in 2023
It is with profound sadness that we announce the unexpected demise of our beloved co-founder & CEO, Ambareesh Murty. The Pepperfry family, along with its employees, investors, partners, customers, mourn the loss of a visionary leader who was crucial in shaping our journey. pic.twitter.com/5EuUg27N77
— Pepperfry.com (@Pepperfry) August 8, 2023
Twitter was flooded with condolences and reminiscences, especially highlighting Murty’s love for biking. He had previously journeyed from Mumbai to Leh on his bike. Swati Bhargava, a fellow entrepreneur, paid her respects by noting Murty’s significant contribution: “So sad & shocking to hear of Ambareesh Murty’s sudden demise due to cardiac arrest. An amazing entrepreneur & inspiration to many… may his legacy with Pepperfry live on. RIP.”
A glimpse into Ambareesh Murty’s storied career
Headquartered in Mumbai, Maharashtra, Pepperfry is worth $500 million, with a $244 million investment over eight funding rounds, as of 2020 and among its investors are Goldman Sachs, and Bertelsmann India Investments. Murty died from cardiac arrest on 7 August 2023, at the age of 51.
Murthy did his B.E. from Delhi College of Engineering (1990-1994) and MBA from the Indian Institute of Management, Calcutta (1004-1996). Details about his family life and wife aren’t known.
Ambareesh Murty’s entrepreneurial journey began in June 1996 when he joined Cadbury, working there for over five years. Afterward, Murty expanded his horizons into the financial sector, notably contributing at Prudential ICICI AMC. A few more career transitions, including a stint at Levi’s and launching his venture, Origin Resources, eventually led him to join eBay India. Here, he managed operations for the Philippines, Malaysia, and India.
The genesis of Pepperfry
In June 2011, Murty, along with Ashish Shah, established Pepperfry. This Mumbai-based online marketplace quickly gained traction, specializing in selling home furniture and other related products. The startup’s initial funding in December 2011 was a whopping $5 million from Norwest Venture Partners.
Over the years, Pepperfry managed to raise approximately $240 million from various investors, including giants like Pidilite Ventures and Goldman Sachs Investments Partners. The company’s last funding round in November 2021 saw General Electric, Mukesh Sharma Family Trust, and others infusing $10 million, valuing the company at an impressive $460 million.
Pepperfry’s market stand
Pepperfry, with its vast range of furniture offerings, stands tall among competitors like Home Centre, Urban Ladder, Furlenco, and Wakefit.
In the wake of this sudden loss, the entrepreneurial community mourns the death of a visionary who had a significant impact on the e-commerce and furniture sectors. Ambareesh Murty’s legacy, built on hard work and innovation, will undoubtedly live on in Pepperfry and the many lives he touched throughout his illustrious career.