Kaymu
Online marketplace
From Wikipedia, the free encyclopedia
Kaymu was an online marketplace founded in 2013 that provided localized C2C and B2C services across Africa,[1] Europe, and Asia.[2] The platform let buyers and sellers connect and trade in new and used items such as fashion products, mobile phones, jewelry, and home appliances.
 | |
Type of site | E-commerce |
|---|---|
| Available in | English, French, Portuguese |
| Founded | 2013 |
| Area served | Africa, Asia, Europe |
| Industry | Internet |
| Parent | Rocket Internet, Africa Internet Group, Asia Pacific Internet Group |
| Launched | 2013 |
History
Kaymu initially launched in Nigeria and Pakistan in January 2013 and within 27 months opened operations in 32 other countries.[3] Modeled after eBay, Kaymu did not sell products directly. Instead, it offered country-specific retail websites and facilitated user-to-user transactions. Kaymu's closest competitor was Naspers-owned OLX, a C2C platform operating in over 100 countries.[4]
In January 2013, Kaymu received an undisclosed amount in seed funding from Rocket Internet and began operations in Nigeria and Pakistan.[5] Kaymu grew from an employee base of 10 to 60 in nine months and opened operations in Ghana and Morocco in October 2013,[6][7] before expanding to other emerging economies in its second year of operation.[8]
As at June 2015, Kaymu's operations had grown to include Mozambique, Bangladesh, Nepal, Myanmar,[9] Slovenia, Sri Lanka,[10] Bulgaria,[11] Uzbekistan, and Philippines. Kaymu operated in 35 countries, 17 of which were in Africa,[12] and the rest in Europe and Asia.[13]
Kaymu had operations in the following regions & countries:[14]
- 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,[15] and markets in South Asia turned into Daraz.[16][17] Since 2024, Daraz currently operates in Pakistan, Bangladesh, Sri Lanka, Nepal and Myanmar.[18]
Investors
Kaymu was backed by a Nepalese Citizen Rajib Kumar Mehta, under the umbrella of the Jumia Group conglomerate.[19] Rocket Internet CEO Oliver Samwer has described his company as a platform that builds internet companies[20] rather than as investors, innovators or startup incubators as they are perceived by others.[21] Rocket Internet oversees all of its business affairs in Africa through Africa Internet Group which has shared ownership among Rocket Internet, MTN and Millicom.[22][23]
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.[24][25] Kaymu is one of such models, and has been described to copy the eBay model.
Awards
- Online Retail Award (London, 2014)[26]