Ambareesh Murty co-founded Pepperfry — India’s leading online furniture and home décor marketplace — alongside his former eBay India colleague Ashish Shah in 2012. Operating under Trendsutra Platform Services Pvt Ltd, Pepperfry grew into a pioneering force in India’s online furniture industry under Murty’s leadership, attracting investors like Goldman Sachs, Bertelsmann, and Norwest Venture Partners. With over 38 lakh registered users and more than 150 Studios (experience stores) across India, the platform he built transformed how Indians buy furniture. Murty’s vision, tenacity, and entrepreneurial spirit left a lasting impact on India’s e-commerce landscape.

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Pepperfry Competitors

Pepperfry operates in India’s competitive online furniture and home furnishings market. The key competitors of Pepperfry include:

• Urban Ladder – Bengaluru-based online furniture brand (acquired by Reliance Retail)
• IKEA India – Swedish furniture giant expanding rapidly across Indian cities
• Livspace – interior design and home renovation platform
• WoodenStreet – custom-made solid wood furniture marketplace with 100+ stores
• HomeTown (Future Group) – home furnishings retail chain
• Amazon India – growing furniture vertical on India’s largest e-commerce platform
• Flipkart – online furniture sales via its marketplace
• Godrej Interio – legacy Indian furniture and interiors brand

Ambareesh Murty – Quick Facts

Ambareesh Murty Net Worth & Salary – Pepperfry CEO

At the time of his passing in August 2023, Ambareesh Murty’s net worth was estimated at approximately $100 million USD, based on his co-founder stake in Pepperfry. The company had been valued at $460 million during its November 2021 funding round, and Murty was believed to hold approximately 10% equity. Pepperfry raised a total of over $307 million across 14 funding rounds from investors including Goldman Sachs, Bertelsmann India Investments, Norwest Venture Partners, and State Street Global Advisors.

Pepperfry Funding & Valuation

Pepperfry Net Worth – Is Pepperfry Profitable?

Pepperfry has historically operated at a loss while pursuing growth. In FY2024, the company reported operating revenue of approximately ₹189 crore (down from ₹272 crore in FY2023) and a net loss of approximately ₹117.5 crore. The company has been working to narrow its losses — it reduced losses from ₹194 crore in FY2022 to ₹118 crore in FY2023. In September 2025, TCC Concept Ltd, a technology and real estate company, announced the acquisition of Pepperfry for approximately $74.9 million.

Pepperfry Financial Summary

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Pepperfry CEO Email Address | Ambareesh Murty Contact

Ambareesh Murty was active on social media and accessible to the startup community during his lifetime. Since his passing in August 2023, his co-founder Ashish Shah now leads Pepperfry as CEO. Below are the contact details associated with the company and its late founder:

Career & Education – Company, University, & College

Ambareesh Murty built a distinguished career spanning over two decades across FMCG, financial services, and e-commerce before co-founding Pepperfry. He started at Cadbury India as a management trainee in 1996 and rose to Brand Manager over five years. He then moved to ICICI Prudential as VP of Marketing and Customer Service, followed by a stint as Brand Leader at Levi Strauss India.

In 2003, Murty founded Origin Resource, a content development and training company for the asset management industry. He returned to corporate life in 2005 as Marketing Manager at Britannia Industries, and in 2008, he was appointed Country Manager of eBay India, also overseeing eBay’s Philippines and Malaysia operations. It was during his eBay tenure that he met Ashish Shah, and together they left to launch Pepperfry in 2012.

Ambareesh Murty Career Timeline

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Education

Ambareesh Murty Wiki – Age, Family, & More

Ambareesh Vedantam Murty was born on June 30, 1972, in Mumbai, Maharashtra. His father, Vedantam Sriram Murty, was a civil engineer, and his mother, Shobha Murty, was a homemaker. He had a younger sister, Shambhavi, who is a journalist and author. Ambareesh married Meeta Gangrade in 2016 — notably, it was the first time he took a break from his intense work schedule at Pepperfry in five years.

Known for working 12–14 hours a day with no holidays including weekends, Murty channeled the same intensity into his personal passions. He was an avid motorcycle enthusiast and trekker, with Ladakh being his favorite destination. He completed the famed Chadar Trek in Zanskar Valley and regularly rode his motorcycle on the Mumbai-to-Leh route. It was during one of these beloved motorcycle trips to Leh that he suffered the fatal cardiac arrest on August 7, 2023.

Notable Achievements

• Co-founded Pepperfry (2012) – Built India’s largest online furniture and home décor marketplace from scratch
• Pioneered the Omnichannel Model – Launched 150+ Pepperfry Studios, blending online and offline furniture shopping in India
• eBay India Country Head – Managed eBay’s operations across India, Philippines, and Malaysia (2008–2011)
• Vice Chairman, IAMAI – Served as Vice Chairman of the Internet and Mobile Association of India
• Raised $307M+ in Funding – Attracted top-tier investors including Goldman Sachs, Bertelsmann, and Norwest Venture Partners
• Adventure & Philanthropy – Known for his passion for motorcycling, trekking, photography, and music

His co-founder and close friend Ashish Shah eulogized him on X (formerly Twitter): “Extremely devastated to inform that my friend, mentor, brother, soulmate @AmbareeshMurty is no more.”

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About Pepperfry

Pepperfry is India’s leading online furniture and home décor marketplace, founded in January 2012 by Ambareesh Murty and Ashish Shah. Headquartered in Mumbai, the company operates under its parent entity, Trendsutra Platform Services Pvt Ltd. The platform connects buyers with thousands of furniture manufacturers and offers products across categories including living room, bedroom, kitchen, dining, office furniture, and home décor.

Pepperfry pioneered the omnichannel approach in Indian furniture retail by opening over 150 Pepperfry Studios — offline experience centers where customers can see and touch products before ordering online. The platform serves 500+ cities across India with a proprietary logistics network. In September 2025, Pepperfry was acquired by TCC Concept Ltd for approximately $74.9 million.

Frequently Asked Questions (FAQ)

What happened to Pepperfry CEO Ambareesh Murty?

Ambareesh Murty, the co-founder and CEO of Pepperfry, passed away on August 7, 2023, due to cardiac arrest while on a motorcycle trip in Leh, Ladakh. He was 51 years old. His co-founder and longtime colleague Ashish Shah was subsequently elevated to the position of CEO in September 2023.

Who is the current CEO of Pepperfry?

Following Ambareesh Murty’s passing, Pepperfry’s co-founder Ashish Shah was appointed as the new CEO in September 2023. Shah had previously served as the company’s Chief Operating Officer (COO) and had been overseeing operations, category management, product, and the omnichannel business. He co-founded Pepperfry with Murty in 2012.

What was Ambareesh Murty’s net worth?

At the time of his death, Ambareesh Murty’s net worth was estimated at approximately $100 million USD. This estimate was based on his roughly 10% co-founder equity stake in Pepperfry, which had been valued at $460 million during its November 2021 funding round.

What was Ambareesh Murty’s email address?

During his tenure as CEO, Ambareesh Murty’s email addresses were [email protected] and [email protected]. He was also active on Twitter/X as @AmbareeshMurty. Note: these email addresses are no longer active following his passing.

What is Pepperfry’s valuation and funding history?

Pepperfry raised a total of over $307 million across 14 funding rounds from investors including Goldman Sachs, Bertelsmann, and Norwest Venture Partners. The company reached a peak valuation of $460 million in 2021. In September 2025, Pepperfry was acquired by TCC Concept Ltd for approximately $74.9 million.

Where did Ambareesh Murty study?

Ambareesh Murty earned his B.E. in Civil Engineering from the Delhi College of Engineering (now Delhi Technological University, or DTU) from 1990 to 1994. He then completed his MBA (PGDM) from the Indian Institute of Management, Calcutta (IIM-C) from 1994 to 1996, one of India’s most prestigious business schools.

Article last updated:March 2026March 2, 2026