Urban Company Starts Shutting Its Saudi-Based Subsidiary Amid Widening Losses

Urban Company has initiated the wind-down of its Saudi Arabia subsidiary following mounting operational losses and challenging market conditions. The home services platform had expanded to the Middle East in 2021 but struggled with high customer acquisition costs and regulatory hurdles. This retreat allows the company to focus on its core Indian market where it continues to face stiff competition from local players. The closure process involves settling vendor payments and offering severance packages to affected employees while maintaining service commitments to existing customers during the transition period.