Finshots Daily Why a realty company is taking over Pepperfry
Sep 27, 2025
The podcast dives into the surprising acquisition of Pepperfry by TCC Concept, a lesser-known realty firm. It recounts Pepperfry's early growth and offline expansion, revealing how COVID boosted furniture demand but led to strategic missteps. The sudden death of founder Amrish Murthy and financial struggles add to the drama. Listeners learn about TCC's ambitious plan to integrate real estate and tech with Pepperfry, despite looming risks and uncertainty in the market.
AI Snips
Chapters
Transcript
Episode notes
Founders' Origin And Early Expansion
- Amrish Moorthy and Ashish Shah left eBay in 2011 to build Pepperfry as an online furniture marketplace.
- The launch was an instant hit and the founders expanded into physical Studio Pepperfry stores and franchises.
Pandemic Boost Hid Structural Losses
- COVID initially boosted furniture demand as people upgraded home spaces and Pepperfry benefited.
- But growth masked deep losses and an IPO plan was shelved after losses barely narrowed by 3% in 2023.
Distressed Sale To Unusual Buyer
- Pepperfry signed a term sheet to be acquired by TCC Concept at a valuation well below its prior $352 million peak.
- Media framed the deal as a distressed sale of a once-hot online retailer.