Rocket Internet shuts down Kaymu in three Asian countries PHOTO: REUTERS
Rocket Internet merges ecommerce sites Daraz and Kaymu across Asia
The homepage of the ecommerce store mentions it’s now present in Bangladesh, Pakistan, Sri Lanka, Nepal, and Saudi Arabia. Niroshan Balasubramaniam, Kaymu’s co-founder and managing director, told Tech in Asia in September 2015 that the venture looks at countries in which the retail landscape is fragmented, and where there aren’t many malls and mega-retailers. “This leaves the emerging middle class underserved and hungry for consumption,” he explained.
At last count, Kaymu Cambodia had 36 employees and over 12,000 products listed. Figures for Myanmar and the Philippines were not available.
Scaling back
In June, Rocket Internet announced it would be merging complementary ecommerce stores Daraz and Kaymu across Asia with centralized operations in Pakistan.
Daraz operates as a “managed marketplace” similar to Lazada where sellers are curated and authentic products guaranteed. Kaymu’s model is different – businesses are free to list products on the site and source orders directly from consumers. It does not do its own deliveries or focus on original products alone. Daraz raised US$55 million in series A funding last year while Kaymu’s been surviving on its 2013 seed funding round according to Crunchbase.
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This article originally appeared on Tech in Asia.
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