Daraz and Kaymu, two leading e-commerce ventures of German start up investor Rocket Internet SE, have merged to strengthen their position in the growing Bangladeshi market. To accelerate growth, this a strategic call from Rocket Internet SE for the Asian market. After the merger, both the brand names will exist but operations will be under the newly formed entity Daraz Group. Operations will be directed from Daraz Group.
Bjarke Mikkelsen, co-CEO of Daraz Group, said, “Daraz and Kaymu have both built successful operations in their respective markets. The merger is now the next step to offer our sellers the best possible solutions to grow their online business, and to start capitalizing on the synergies between the platforms.”
Daraz will continue to operate as a business-to-consumer marketplace for brands and original products, to help professional sellers scale up their business.It will also continue to provide its customers with a 7-day return policy for its wide range of original, quality products from local and international brands. Kaymu will keep operating as an open marketplace for smaller businesses and individuals, to interact directly with customers through a community based platform.
Benjamin de Fouchier, managing director of Daraz Bangladesh believes that numerous synergies will help to take the business to the next level.
There are around 160 e-commerce companies in Bangladesh. The merger of Daraz and Kaymu is the second instance after OLX and Cellbazar.