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Handy Did the Unthinkable to Make a Fortune11.30.16

In early 2016, the CEO of Handy, lived in fear of all Tuesday mornings. It was at the dawn of the home-cleaning on-demand home startups weekly leadership teams at the Headquarters of New York, which Hanran was perusing the PowerPoint pages of his down-falling idea he had supported. While he did all he could to mitigate the risk of the business, he looked at his co-founder with the i-told-you-so looks.

For that moment, the company was facing a major crisis in customer base with their new cleaners. This was the exact change Hanran had championed. He wanted to roll out of business. For all his markets, he wanted to move out of the online regime of operations. Umaga Dua, his co-founder, resisted the plan from its conception in 2014. He wanted an environment where the cleaners would compete for the small resource. For this reason, he felt so let down by his plans. Nothing at that instance could calm his rapidly-thinking mind. However, the two business partners agreed to carry out a test and gauge the effects. The new system was rolled out in Washington and Miami in 2015.

The two partners were still on the fence on whether or not to include the strategies in all their markets. In November 2015, the company recorded a $50 million acquisition of the funding. There was an influx of relief from the incoming capital. However, the money came accompanied with new stress levels in the two partners. During Handy’s search for funding period, the tone of meeting new investors came to a standstill. They never knew where new money was to embark. According to them, they knew that they were on the right track when other companies were struggling with capital. They pressed on without giving up. Handy strategized on making brisk business with their customers as the best way to retain them in the future. Visit the website:


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