Pepperfry CEO Ambareesh Murty no more: Remembering his entrepreneurial journey

Pepperfry CEO and co-founder Ambareesh Murty passed away on Monday after suffering a cardiac arrest. He was 51.

The announcement about Murty’s death was made by co-founder Ashish Shah in a heartfelt post on X, formerly known as Twitter.

“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," Shah wrote on the platform.

Soon after the tragic announcement, tributes poured in for Murty on the platform. Many remembered him as an inspirational figure and an extraordinary entrepreneur.

Remembering his journey

Ambareesh Murty's journey in the world of business commenced in June 1996, when he joined Cadbury as a sales and marketing professional. His tenure of five and a half years at the renowned chocolate manufacturer laid the foundation for his future strides.

Murty, who was also an avid biker and trekker, had then ventured into the financial sector, gracing Prudential ICICI AMC (now ICICI Prudential) as the vice president of marketing and customer service.

He then embarked on a brief yet impactful stint at Levi's.

Murty gave his first shot at entrepreneurship with the creation of Origin Resources, a visionary portal tailored to uplift Indian mutual fund companies. However, he shut the start-up in 2005 and joined Britannia as a marketing manager, contributing his strategic acumen to this iconic brand.

Seven months later, his path converged with that of eBay India, where he took on the mantle of Country Manager for the Philippines, Malaysia, and India. This role saw him steering growth for the global e-commerce giant, shaping its footprint in these diverse markets.

The Pepperfry story

In June 2011, Murty etched his name in the annals of entrepreneurship as he co-founded Pepperfry along with Ashish Shah – a visionary endeavor that would redefine the way India shops for furniture and home goods.

Pepperfry, the online marketplace that he nurtured from its inception, blossomed into a powerhouse, connecting consumers with their dream homes.

The pages of Pepperfry's story were adorned with capital injections, the first of which came in December 2011 from Norwest Venture Partners, infusing the startup with $5 million.

But this was just the beginning, as Murty led Pepperfry on a journey that attracted approximately $240 million in funding from a constellation of investors, including Goldman Sachs Investment Partners and Pidilite Ventures, the creators of Fevicol.

Pepperfry's crescendo culminated in November 2021, with its last funding round securing $10 million from distinguished entities like General Electric and Mukesh Sharma Family Trust.

The journey that began as an ambitious idea is now valued at approximately $500 million, a testament to Murty's visionary leadership.

Ambareesh Murty's saga is one of the bold dreams that transformed into a vibrant reality, altering the landscape of online furniture retail in India forever.