MENA E-Commerce Startup Wadi.com Is Now Operationally Profitable
By Entrepreneur Middle East Staff / Entrepreneur.com - Image Credit: Wadi.com
SOURCE: MENA E-Commerce Startup Wadi.com Is Now Operationally Profitable
Entrepreneur Middle East take a look at Souq.com's potential new competitor, Wadi.com, a rising startup in the e-commerce world.
The startup has announced it is achieving the sought out e-commerce target of becoming operationally profitable, and heading towards net profitability. Just eighteen months after its Series A funding round of US$67 million -a noteworthy amount for a Series A in the region- the startup has released a statement on its tripled seller base record, along with a 200% increase on annual growth. It has also attained a score of 60% on the "Net Promoter Score", a global index quantifying a customer’s overall satisfaction and loyalty to the brand. Operating in the UAE, KSA and India, this year alone, the startup has brought on prominent partnerships with international brands, including Nokia, Samsung and Reebok.
Pratika Gupta, co-founder of Wadi, along with Ankit Wadhwa and Kanwal Sarfaz, remarked on their excitement as a focal stage for their startup: “This has been made possible because of our dedication to pushing the e-commerce boundaries to further excel customer experience. Achieving our operational profitability has solidified investor confidence in us, and deepened their understanding of Wadi’s business culture.”
Source: entrepreneur.com