Deligram Acquires Shopway: Shifts Focus to B2B
Commerce company Deligram acquires Shopway . They have announced it on October 12. With a view to taking the e-commerce in Bangladesh to a new level, Deligram made a debut in 2017. It has brought e-commerce very close to the mass consumers of Bangladesh, through delivering products to almost 1.2m informal mom&pop shops, which local people call as “Mudir Dokans”.
Deligram has many foreign investors in New York, Singapore, and Silicon Valley. Since 2017, in Foreign Direct Investment (FDI), Deligram has raised more than $2.5m USD from those investors.
Deligram Acquires Shopway
Recently Deligram has taken over Shopway, which is a Bangladeshi startup, founded in 2018. Shopway is working for digitizing the B2B trade among retailers and distributors in Bangladesh. This startup aims at serving the FMGG Industry of Bangladesh, which’s worth is a Multi-Billion dollar.
Now, Deligram’s Chief Operating Officer will be Firoz Uddin Ahmed, who is the Founder & Chief Executive Officer (CEO) of Shopway. He has achieved a degree in Business Administration and Supply Chain and has experience of working with Unilever in the sector of consumer goods contribution.
By using Shopway, the Bangladeshi customers used to order products from the mudir dokans that is nearest to them. Shopway could deliver their products shortly, within one hour. The Shopway Startup was a graduate of the GP Accelerator Program from where it raised funding of angel round.
Both Shopway and Deligram had the same motive – Making a strong bond between the retailers and the consumers of Bangladesh, that’s why they focused on the B2C segment.
When both Deligram and Shopway realized that the existing retail infrastructure needed a change, or in detail, digital transformation in the supply chain, they bonded together to make digitization easier between the consumers and the retailers.
While maintaining a high Net Promoter Score (NPS), Deligram has successfully completed more than 1lakh deliveries since it’s the foundation in 2017 which has let them earn many positive reviews on Facebook. For its tremendous performance, Deligram won the Bangladesh Brand Forum’s “eCommerce Platform of the Year” in 2019.
Techcrunch featured the Deligram titling them as the “Amazon of Bangladesh”. Within a year of launching, Deligram scaled up to $2m USD in Annualized Run Rate (ARR).
Pivots Focus on B2B
B2C e-commerce’s intensive idea of capital and the COVID-19 impacting socio-economically on the consumer market made Deligram decide to narrow their focus on a model that is both positive and cashflow. That’s why they scaled down their B2C marketplace model which now prioritizes to build out their B2B vertical.
The retail economy of Bangladesh has seen several changes including the adoption of mobile internet and smartphones during the COVID-19 pandemic. This has impacted many businesses positively for which they could bring out the best of them.
Allowing digital transformation to take place, Deligram adapted to their digital solution which allowed brands, retailers, and distributors to come along.
The Deligram App has been updated with new features that allow the consumers to find a Deligram Retailer that is nearest to them and place their weekly grocery orders through the Deligram App. Or, the consumers can place their orders on Whatsapp Chat with Deligram.
The technology and operation team of Deligram works hardly for making reach their app to many more distributors and retailers of Bangladesh and serves the consumers more and more. In the upcoming weeks, Deligram has plans to launch some exciting products which will help them to contribute to facilitate the growth of small businesses in Bangladesh.
According to Sonia Bashir Kabir, who is an Investor in Deligram and also the founder of SBK Tech Ventures, she is proud that Deligram has successfully navigated through the COVID-19 shock waves. She mentioned, Deligram stayed pivoted and nimble for facing the challenges and the team also stuck to strong company culture. These have helped Deligram to successfully embrace a B2B Model.
Mahjabin Ferdous Sharna, an angel investor of Shopway, said that “The Digital Startup Industry in Bangladesh is growing at an unprecedented rate. In order to tap into the full potential of this growth, we must join forces when we are traveling in the same direction.”
Minhaz Anwar, who has seen the Shopway closely because of working with them through the GP Accelerator Program, congratulated the Deligram for taking over Shopway. He said that Shopway is one of the best teams he has worked with.
Mentioning this as a “Combination of the best of forces”, he said that this acquisition is great precedence for other startups in Bangladesh as well. He believes that the B2B distribution focus is the right way to go.
The Deligram team is very grateful to all of their customers along with their investors and team members who believed in Deligram for what they were doing and they expect the same from them in the near future too.
To reform and develop the retail economy of Bangladesh, the Deligram team eagerly looks forward to continuing building tools with technology. That’s why Deligram takeovers Shopway .
More startup news: Banglalink Ennovators 4.0 Registration Has Been Opened
Tarannum Jahan Tanha
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