The Relocation Portal Aims at US $ 252 Mn Turnover in Next Four Years and Also Plans to Expand to Other Cities in India
Hyderabad, January 02, 2023: The USA and India-based leading relocation portal, movers.com completed 20 years and celebrated its 20th Anniversary in a gala function held at Hotel Daspalla on the eve of New Year. Speaking to the gathering at the celebrations, Vidhyadhar Garapati, CEO of movers.com said it is one of the very few success stories of an NRI. What started as a small “one bedroom” apartment and grew to a 75-team company now and further plans to add 50 more resources in its Indian operations. Further, it also plans to expand its operations to other parts of India.
It has served 3.5 million customers in the past 20 years and reached a turnover of a 20-million US $ dollar turnover company. Now it aims at US $ 252 mn. We serve 7000 customers every month, he shared.
Unveiling future plans, Vidhyadhar informed that their focus in coming few years would be to transition the company from a Lead Aggregator to Relocation Management Company. Nearly 32 to 35 million moves take place every year. We have only tapped 3.5 million customers in the last 20 years. There is a lot of scope for growth, he added.
An average person in America moves about 11.7 times in their lifetime. And they spend well over US $ 3000 on every move. We aim to acquire 15000 leads per month from which we aim to convert 35% leads. Thus, we target to acquire 7000 customers every year and each one paying 3000 $, we will be able to achieve a turnover of US $ 252 million in next four years, he added.
Speaking further he added, our vision is also to get into Cross Selling Services such as Insurance, Home Improvement, Home Security etc, shared by Vidhyadhar. The motto of the company is ‘every day is a new day, start from the scratch’. And we treat every single customer as a new customer. With these plans in place, we will be aiming to IPO in the next four years, he declared.
Movers.com is part of Move, Inc., a subsidiary of News Corp, and a leading provider of online real estate and moving services. The platform makes moving simple and secure, he shared.
Movers.com is a name to reckon in the industry it operates. We also have an advantage of a generic domain, which also gets a lot of traffic organically, he shared.
TANA Foundation Trustee and a philanthropist, Vidhyadhar Garapati, is a survivor of 9/11 while on the ground floor of the World Trade Centre, scripted the success story with hard work, focus and determination.
Movers.com is a member of the American Moving and Storage Association (AMSA) and the Better Business Bureau (BBB). Our website is verified by McAfee, a global leader in virus and malware protection, each day to protect against hacking attacks and fraud.
In 2010, we added software consulting. Then in 2019 we added another division “US Relocation, Inc.” which quickly grew from ZERO to 5M in less than 4 years, he shared a hall full of invited guests.
In 2017, the company was listed on the New Jersey Fast 50 as the 27th rank, and later listed on INC 5000 for two consecutive years; 2017 with 1038th rank and 2018 with 3672nd rank.