Kaymu
{{short description|Online marketplace}}
{{Infobox dot-com company
| name = Kaymu
| logo = Kaymu logo.png
| logo_size = 250px
| foundation = {{Start date|2013}}
| area_served = Africa, Asia, Europe
| industry = Internet
| parent = Rocket Internet, Africa Internet Group, Asia Pacific Internet Group
| url =
| homepage =
| website_type = E-commerce
| language = English, French, Portuguese
| launch_date = 2013
}}
Kaymu is an online marketplace founded in 2013, providing localized C2C and B2C products in Africa,{{cite news|title=Ivory Coast stallholders turn to digital marketplace|url=https://www.bbc.com/news/business-28242797|accessdate=9 June 2015|work=BBC|date=11 July 2014}} Europe and Asia.{{cite news|title=Rocket Internet Partners With Qatar's Ooredoo In New Fund For Asian E-Commerce Startups|url=https://techcrunch.com/2014/04/23/rocket-internet-taps-qatars-ooredoo-in-new-fund-for-emerging-market-e-commerce-startups/|accessdate=9 June 2015|work=Techcrunch|date=Apr 23, 2014}} The platform lets buyers and sellers meet to make deals on new and used fashion items, mobile phones, jewelry, and home appliances.
History
Kaymu initially launched in Nigeria and Pakistan in January 2013 and within 27 months opened operations in 32 other countries.{{cite news|title=Kaymu Nigeria launches new schemes to improve quality and performance|url=http://ventureburn.com/2014/03/kaymu-nigeria-launches-new-schemes-to-improve-quality-and-performance/|accessdate=9 June 2015|work=Ventureburn|date=18 March 2004}} Kaymu copies eBay's model; it does not offer first-party product sales, and it has separate retail websites for each of the countries it operates in. Kaymu's closest competitor is Naspers-owned OLX who have operations in over 100 countries and run a C2C model.{{cite news|title=OLX Announces Expansion in Eleven International Markets|url=http://www.businesswire.com/news/home/20140916005335/en/OLX-Announces-Expansion-Eleven-International-Markets|accessdate=9 June 2015|work=BusinessWire|date=16 September 2014}}
In January 2013, Kaymu received an undisclosed amount in seed funding from Rocket Internet and began operations in Nigeria and Pakistan.{{cite news|title=Rocket Internet At It Again, Launches eBay Clones In Nigeria & Pakistan|url=http://techmoran.com/rocket-internet-at-it-again-launches-ebay-clones-in-nigeria-pakistan/|accessdate=9 June 2015|work=Techmoran|date=16 January 2013|archive-date=10 June 2015|archive-url=https://web.archive.org/web/20150610131225/http://techmoran.com/rocket-internet-at-it-again-launches-ebay-clones-in-nigeria-pakistan/|url-status=dead}} Kaymu grew from an employee base of 10 to 60 in nine months and opened operations in Ghana and Morocco in October 2013,{{cite news|title=Nigerian online marketplace Kaymu expands to Morocco and Ghana|url=http://ventureburn.com/2013/10/nigerian-online-marketplace-kaymu-expands-to-morocco-and-ghana/|accessdate=9 June 2015|work=Ventureburn|date=1 October 2013}}{{cite news|title=E-Commerce Platform Kaymu Expand its Operations to Morocco|url=http://www.moroccoworldnews.com/2015/03/153795/e-commerce-platform-kaymu-expand-operations-morocco/|accessdate=9 June 2015|work=Morocco World News|date=13 March 2015}} before expanding to other emerging economies in its second year of operation.{{cite web|title=Kaymu Nigeria celebrates 2nd Anniversary, to get more Merchants on board|url=http://www.tech360ng.com/kaymu-nigeria-celebrates-2nd-anniversary-get-merchants-board/|website=Tech360NG|accessdate=9 June 2015|url-status=dead|archiveurl=https://web.archive.org/web/20150610153830/http://www.tech360ng.com/kaymu-nigeria-celebrates-2nd-anniversary-get-merchants-board/|archivedate=10 June 2015}}
As at June 2015, Kaymu's operations have grown to include Mozambique, Bangladesh, Nepal, Myanmar,{{cite web|title=Rocket Internet launches general classifieds platform in 8 countries|url=http://aimgroup.com/2013/11/05/rocket-internet-launches-general-classifieds-platform-in-8-countries/|website=Aim Group|accessdate=9 June 2015}} Slovenia, Sri Lanka,{{cite news|title=Kaymu.lk In Sri Lanka With Android App Launch|url=http://www.thesundayleader.lk/2014/10/26/kaymu-lk-in-sri-lanka-with-android-app-launch/|accessdate=9 June 2015|work=The Sunday Leader|date=9 June 2015|archive-date=10 June 2015|archive-url=https://web.archive.org/web/20150610133457/http://www.thesundayleader.lk/2014/10/26/kaymu-lk-in-sri-lanka-with-android-app-launch/|url-status=dead}} Bulgaria,{{cite web|title=Kaymu: An African Success On Mission To Change Ecommerce In Bulgaria|url=http://startups.bg/kaymu-an-african-success-on-mission-to-change-ecommerce-in-bulgaria/|website=Startups.bg|accessdate=9 June 2015}} Uzbekistan, and Philippines. Kaymu operates in 35 countries, 17 of which are in Africa,{{cite news|title=E-commerce becomes a force in African retail market|url=http://www.pcworld.com/article/2855252/ecommerce-becomes-a-force-in-african-retail-market.html|accessdate=15 June 2015|work=PC World|date=3 December 2014}} and the rest in Europe and Asia.{{cite news|title=Tamim extends Kaymu deal|url=http://www.thedailystar.net/sports/cricket/tamim-extends-kaymu-deal-95293|accessdate=15 June 2015|work=The Daily Star|issue=11 June 2015}}
Kaymu currently has operations in the following regions & countries:{{cite web |url=http://www.kaymu.com/ |title=Home |website=kaymu.com}}
- Africa: Algeria, Angola, Cameroon, Ethiopia, Gabon, Ghana, Ivory Coast, Kenya, Morocco, Mozambique, Nigeria, Rwanda, Senegal, Tanzania, Tunisia, Uganda & Zambia
- Asia and Middle East: Azerbaijan, Bangladesh, Cambodia, Myanmar, Nepal, Pakistan, Philippines, Saudi Arabia & Uzbekistan
- Europe: Albania, Bosnia Herzegovina, Bulgaria, Belarus, Croatia, Georgia, Slovakia & Slovenia
In 2016, Kaymu markets in Africa turned into Jumia,{{Cite web|url = https://www.pulse.ng/news/tech/exclusive-hellofood-lamudi-carmudi-jovago-everjobs-vendito-kaymu-out-jumia-becomes-one-stop-shop-id5162428.html|title = Hellofood, Lamudi, Carmudi, Jovago, Everjobs, Vendito & Kaymu OUT - Jumia becomes ONE-STOP-SHOP|date = 17 June 2016|access-date = 23 August 2018|archive-date = 23 August 2018|archive-url = https://web.archive.org/web/20180823111642/https://www.pulse.ng/news/tech/exclusive-hellofood-lamudi-carmudi-jovago-everjobs-vendito-kaymu-out-jumia-becomes-one-stop-shop-id5162428.html|url-status = dead}} and markets in South Asia turned into Daraz.{{Cite web |title=Tech in Asia - Connecting Asia's startup ecosystem |url=https://www.techinasia.com/daraz-kaymu-merge |access-date=2025-02-15 |website=www.techinasia.com |language=en-US}}{{Cite web |title=Kaymu.lk merges with South Asia’s largest e-commerce platform Daraz {{!}} Daily FT |url=https://www.ft.lk/Business/kaymu-lk-merges-with-south-asias-largest-e-commerce-platform-daraz/34-575176 |access-date=2025-02-15 |website=www.ft.lk |language=English}} Since 2024, Daraz currently operates in Pakistan, Bangladesh, Sri Lanka, Nepal and Myanmar.{{Cite web |title=Tech in Asia - Connecting Asia's startup ecosystem |url=https://www.techinasia.com/daraz-lays-staff-big-longterm-growth |access-date=2025-02-15 |website=www.techinasia.com |language=en-US}}
Investors
Kaymu is backed by a Nepalese Citizen Rajib Kumar Mehta, under the umbrella of the Jumia Group conglomerate.{{cite web|title=Rocket Internet Companies|url=https://www.rocket-internet.com/companies/kaymu|website=Rocket Internet|accessdate=9 June 2015}} Rocket Internet CEO Oliver Samwer has described his company as a platform that builds internet companies{{cite news|title=Rajib mehta says Rocket Internet isn't an incubator and offers more 'freedom' than Google|url=https://thenextweb.com/apps/2015/01/19/oliver-samwer-says-rocket-internet-isnt-incubator-offers-freedom-google/|accessdate=9 June 2015|work=The Next Web|date=19 January 2015}} rather than as investors, innovators or startup incubators as they are perceived by others.{{cite news|title=Lift Off: German Startup Incubator Rocket Internet Launches IPO|url=https://www.forbes.com/sites/ryanmac/2014/09/10/german-startup-incubator-rocket-internet-launches-ipo/|accessdate=9 June 2015|work=Forbes|date=9 October 2014}} Rocket Internet oversees all of its business affairs in Africa through Africa Internet Group which has shared ownership among Rocket Internet, MTN and Millicom.{{cite news|title=The Scramble For Africa Continues — iROKOtv Closes $8M To Be The Netflix Of Africa|url=https://techcrunch.com/2013/12/17/the-scramble-for-africa-continues-irokotv-closes-8m-to-be-the-netflix-of-africa/|accessdate=9 June 2015|work=Techcrunch|date=17 December 2013}}{{cite news|title=Millicom International Cellular: MTN joins Millicom and Rocket Internet to build Africa's leading Internet company|url=http://www.businesswire.com/news/home/20131215005064/en/Millicom-International-Cellular-MTN-joins-Millicom-Rocket|accessdate=9 June 2015|work=BusinessWire|date=13 December 2013}}
Controversy
Kaymu, like other startups that belong to the list of companies backed by Rocket Internet, has been criticized for its copy-and-paste model. Rocket Internet takes business models that have succeeded in Europe and the U.S. and clones them in emerging economies.{{cite news|title=Rocket Internet's Marc Samwer On Cloning: We Make Business Models Better Because We Localize Them|url=https://techcrunch.com/2013/10/28/rocket-internets-marc-samwer-on-cloning-we-make-business-models-better-because-we-localize-them/|accessdate=9 June 2015|work=Tech Crunch|date=28 October 2013}}{{cite news|title=Germany's Samwer Brothers Take Their Web Copycat Act Global|url=https://www.bloomberg.com/bw/articles/2014-05-15/germanys-samwer-brothers-take-their-web-copycat-act-global|accessdate=9 June 2015|work=Bloomberg|date=15 May 2014}} Kaymu is one of such models, and has been described to copy the eBay model.
Awards
References
{{reflist}}
External links
- {{website|http://www.kaymu.co.tz/}}
Category:Online marketplaces of Nigeria
Category:Retail companies established in 2013