Yayvo is Pakistan’s second-biggestt e-commerce platform after Daraz. The platform is now eyeing new investors to battle the acquisition of Daraz by Alibaba Group.
Adam Dawood Yayvo’s head shared in an interview that the company is currently making plans to meet with potential investors in China and the Middle East next month reports Bloomberg.
We want to bring in experts who can help us grow faster and bring in more money to the point that we can grow much, much faster. We are actually looking for the right investors who can come in, be very strategic investors, who can help out with our future plan. – Adam Dawood
Although Dawood did not disclose Yayvo’s valuation, it is estimated that it is valued at $100mn.
Alibaba, which is backed by Chinese billionaire Jack Ma took over Daraz as an opportunity to enter the booming e-commerce market in Pakistan.
Yayvo’s shareholders are the same individuals behind Pakistan’s largest logistics company TCS whose network consists of more than 950 outlets.
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