Ambareesh Murty, co-founder of the online furniture store Pepperfry, is no more. The Indian entrepreneur passed away due to a cardiac arrest. The news of his passing was confirmed by Ashish Shah, his co-founder at Pepperfry, in a post on X.
The demise occurred on Tuesday, August 8, while the 51-year-old Murty was in Leh. As the co-founder of Pepperfry, Murty’s legacy will continue to be felt in the company’s ongoing operations and growth.
“Extremely devastated to inform that my friend, mentor, brother, soulmate Ambareesh Murty 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,” Ashish Shah wrote in a post on social media platform X on Tuesday.
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. 🙏
— Ashish Shah (@TweetShah) August 8, 2023
Both Shah and Murty had teamed up to found Pepperfry 12 years ago, the online marketplace quickly made its mark by offering a wide range of furniture and home decor products. The startup secured its initial round of funding in 2011 from Norwest Venture Partners, propelling Pepperfry into the spotlight of India’s burgeoning e-commerce sector.
Today, the firm has established itself as a chief player in the sector, and as of November 2021, had a valuation of about $460 million. At that time, the firm had raised a total of $10 million from the likes of General Electric, Mukesh Sharma Family Trust and others. Murty himself spend over a decade in the business landscape before founding Pepperfry – his entrepreneurial journey had its origins in the mid-1990s when he joined Cadbury as a Sales and Marketing professional. He subsequently expanded his expertise into the financial sector, notably at Prudential ICICI AMC, where he held a role in marketing and customer service. Murty’s career path then led him through a brief tenure at Levi’s before he founded his own venture, Origin Resources, aimed at assisting Indian mutual fund companies.
It is thus unsurprising that Ambareesh Murty’s sudden passing has sent shockwaves through the business community. Colleagues and industry peers have already expressed their condolences, while tributes to the deceased came pouring in as individuals shared their memories with the departed. Murty’s leadership and vision were integral to Pepperfry’s journey, which aimed to revolutionize the way consumers purchase furniture and home products in India’s rapidly expanding online market, and has carved a niche for itself in the space.
So devastated to here this. He was so accomplished. Always a battery of wisdom to listen.
With these mayhems around, sometimes I fear for myself. A one year old son and a pre-revenue start up. All that I have is promise, what if I perish untimely like this.
Where to draw…
— Manoranjan Manish (@mk_manish) August 8, 2023