Both e-commerce giants will continue their work under the umbrella of Daraz Group
The two leading Asian e-commerce giants Daraz and Kaymu have decided to join hands in order to enhance the value proposition to customers and sellers and accelerate growth in Pakistan.
According to Daraz Group, there will one active website – www.daraz.pk – through which the ecommerce company will continue to grow its seller and customer base. Both the companies will continue their work under the umbrella of Daraz Group.
Daraz and Kaymu are not unfamiliar names to those citizens who accessing the internet, both companies are leading online platforms selling thousands of items every day. Both Daraz and Kaymu operate in frontier markets in Asia.
Daraz, which is a managed marketplace fashioned on the likes of Lazada, is currently operational in Pakistan, Bangladesh, and Myanmar. It raised US$55 million in series a funding in September.
Kaymu is more of an open marketplace primarily targeting smaller businesses. Those businesses are free to list products on the site and source orders directly from consumers. Kaymu is present in Pakistan, Bangladesh, Myanmar, Sri Lanka, Cambodia, Nepal, and the Philippines.
“The Daraz we see today is the best of the two businesses that came together mid last year and we owe a big part of our success to the people and learnings coming from Kaymu. Thousands of high quality Kaymu sellers are now selling on Daraz and most of them are already doing significantly more business now than they ever did on Kaymu,” says Bjarke Mikkelsen, CEO Daraz Group.
Daraz Group will be uniting the operations of Daraz and Kaymu. A move which, Rocket Internet says, they had been planning for six months will help “leverage synergies on the growth and cost side.”
They also made the decision to locate their central operations from Paris to Pakistan. Karachi will be serving as the hub of their marketing, IT and business intelligence operations – a smart move that will help them cut off any overheads.