{"id":3403,"date":"2022-08-01T08:29:42","date_gmt":"2022-08-01T00:29:42","guid":{"rendered":"https:\/\/dailymarkup.com\/?p=3403"},"modified":"2022-08-01T08:29:43","modified_gmt":"2022-08-01T00:29:43","slug":"daily-markup-557-dealcart-bags-us4-5m-to-serve-pakistan-shoppers-carousell-buys-into-the-phone-biz-why-bukalapak-is-no-longer-like-chinas-taobao","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=3403","title":{"rendered":"Daily Markup #557: DealCart bags US$4.5M to serve Pakistan shoppers; Carousell buys into the phone biz; Why Bukalapak is no longer like China\u2019s Taobao"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/FeDhv-OOw7m_y8f3UnUkOfPDN13D_hD3Oel4_lJt8OFWen-xhENd_DwABL9uMdDq5ta3-Q2UZGgWp56cTHUxagjyPv6KZSvNASM-PXlrk3dmvHyF13Voql1DQLxBdiX88gnrIILqKxyg9LS-y6ioIo4\" alt=\"\" \/><figcaption>Credit: DealCart<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Helping shoppers cart away with the best deals<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Many of us are feeling the pinch of inflation, and <a href=\"https:\/\/techcrunch.com\/2022\/07\/27\/dealcart-is-focused-on-price-conscious-pakistani-consumers\/\">bargain-hunting is one way to fight the rising cost of consumer goods<\/a>. 500-backed social commerce startup <a href=\"https:\/\/dealcart.io\/\">DealCart<\/a> was founded to help e-commerce shoppers in Pakistan access affordable daily essentials, and they just raised US$4.5M.<\/li><li>\u201cThe majority of Pakistanis are price-conscious and the current e-commerce landscape does not cater to their needs,\u201d shared Co-founders Haider Raza and Ammar Naveed, adding that e-commerce retailers often tailor to the higher income segment by choosing to focus on selling premium items.<\/li><li>DealCart is changing that by enabling group buys and deal sharing through messaging and social media platforms. Through group buys, consumers have the ability to purchase in larger quantities, unlocking lower prices \u2014 an advantage that&#8217;s also made possible because the startup sources directly from local manufacturers.<\/li><li>The fresh funds will be used to build DealCart\u2019s tech and product teams, as well as DealCart\u2019s brand.<\/li><li>Read the full story on <a href=\"https:\/\/techcrunch.com\/2022\/07\/27\/dealcart-is-focused-on-price-conscious-pakistani-consumers\/\">TechCrunch<\/a>.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/bfwKtXB7FdUWPX3r89UHu6WkLleKKAPMi_koF7L95wUl9w-XzA-S6srQfo0cFZU4YEV4erwNGsty7-GXXYgfndeKQ_s8gg-vYAe3TD650nH_lTknyHjwxyGnZk7Xq8xgfQFaBgz0LEM1lNTIkSw5cok\" alt=\"\" \/><figcaption>Credit: Carousell<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A handshake on a handphone deal<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Speaking of deals, 500-backed recommerce group <a href=\"https:\/\/www.carousell.sg\/\">Carousell<\/a> has just invested US$25M to acquire Laku6, an Indonesian electronics recommerce platform. This move is part of Carousell\u2019s plans to <a href=\"https:\/\/www.techinasia.com\/carousell-heliconia-capital-spend-25m-acquire-indonesian-recommerce-firm\">expand its secondhand business across Southeast Asia<\/a>.<\/li><li>Laku6 enables the buying and selling of pre-owned mobile phones, and leverages its proprietary remote diagnostic technology to inspect the condition of secondhand mobile phones in under two minutes!<\/li><li>To date, Laku6 has inspected and transacted 500,000+ mobile phones and served over 16,000 mobile phone merchants.<\/li><li>Quek Siu Rui, co-founder &amp; CEO of Carousell, said, \u201cThe electronics recommerce opportunity is one that is win-win-win: great for users with affordable like-new devices, beneficial to the environment as people sell and buy secondhand instead of new, and an exciting business opportunity with over 2.5X electronics recommerce growth potential ahead.\u201d<\/li><li>Read the full article on <a href=\"https:\/\/www.techinasia.com\/carousell-heliconia-capital-spend-25m-acquire-indonesian-recommerce-firm\">Tech in Asia<\/a>.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/NkDLqrENhOR3lMpg12H0q98UUzYNEwijo3FC3ETPNq0y71HfGm9Tm_fo6GtPaNuasYiF0vJWu0uT4VyylpFRnggr7rO11huh1bNbINM9ghzuIvBdqXlnXSFzzwUQuhrt7B26pcNpBXJAw4Z2hRjPi6Q\" alt=\"\" \/><figcaption>Credit: Bukalapak<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>From follower to leader<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\u201cWe started as a cookie-cutter e-commerce organization, copying Taobao out of China,\u201d shared Teddy Oetomo, President of 500-backed ecommerce platform <a href=\"https:\/\/www.bukalapak.com\/\">Bukalapak<\/a>. \u201cBut we started to realize that if we are to penetrate into the Indonesia market, we need to have an offline presence. So, we <a href=\"https:\/\/ark-invest.com\/podcast\/ecommerce-in-indonesia\/\">started to tap into traditional convenience stalls<\/a>.\u201d<\/li><li>Teddy added that the majority of Indonesia\u2019spopulation lives outside Tier-1 cities, or &#8211; the top 5 largest cities in Indonesia.\u00a0<\/li><li>Working with mom-and-pop kiosks (<em>warung<\/em>) also allows the team to address issues such as low credit card penetration and low financial inclusion in Indonesia.<\/li><li><em>Warungs<\/em> can source goods in bulk through Bukalapak at more affordable prices, allowing them to sell to offline customers who don\u2019t own credit cards. What\u2019s more, this works not only for physical goods, but also for gaming products such as e-vouchers and in-game items!<\/li><li><em>Warung<\/em> owners can also pay utility bills, send money, and pay their taxes, all through the Bukalapak app. \u201cThey can serve customers just like a modern retailer, and this levels the playing field,\u201d Teddy said.<\/li><li>Listen to the full interview <a href=\"https:\/\/ark-invest.com\/podcast\/ecommerce-in-indonesia\/\">here<\/a>.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Helping shoppers cart away with the best deals Many of us are feeling the pinch of inflation, and bargain-hunting is one way to fight the rising cost of consumer goods. 500-backed social commerce startup DealCart was founded to help e-commerce shoppers in Pakistan access affordable daily essentials, and they just raised US$4.5M. \u201cThe majority of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3404,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[354,45,539],"class_list":["post-3403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-bukalapak","tag-carousell","tag-dealcart"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #557: DealCart bags US$4.5M to serve Pakistan shoppers; 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