Yayvo.com, a TCS-backed e-commerce startup, is shutting down after eight years of struggling with established companies and newcomers alike. Yayvo, a revamp of TCS Connect, an online shopping platform established in 2012, joined Pakistani e-commerce in 2014 with great enthusiasm. However, companies such as Daraz, Alibaba and Amazon have infiltrated the market and pushed the company out of business for over three years.
Fazal Dojki, the founder and CEO of Next Generation Innovations, who worked to create and launch the platform, said on Linkedin that Yayvo had gone zombie after falling out of the top 10 in 2020.
Shehryar Hydri, a partner at Deosai Ventures, commented on the news, calling Yayvo’s shutdown “long overdue” and a “lesson for Pakistani innovators.”
TCS E-Com (Pvt.) Limited operated Yayvo.com, an online store that offered a wide range of top local and global brands, electrical equipment, mobile phones, men’s and women’s clothing, home decor, lifestyle items, books, treats, and more.
In its early days, Yayvo’s marketing effort included various advertisements promoting its products. Nonetheless, they seemed to focus more on home appliances than on clothes, accessories, shoes, and other things that now dominate e-commerce in Pakistan. They could have started with these, but they chose to wait until it was too late.
Despite the fact that it was most likely a rookie mistake, Yayvo was still having issues after almost seven years. Yayvo, a startup created in 2014, sold more than 150,000 items on its website, ranging from detergent to TVs and cellphones.
The possibilities of the website have always been limited, which can be explained by the presentation of the portal, which did not display all the variety. Despite its best attempts, the website struggled to stand out due to the fact that so many of its aesthetics and functionality were outdated.
Although still in its infancy in Pakistan, e-commerce is growing rapidly. Despite the fact that Alibaba took the lead in buying Daraz, the deal is now undoubtedly over as companies like Airlift and Yayvo took the risk. Yayvo had all the necessary components to dominate the market before Alibaba entered Pakistan, due to its significant logistics advantage.
With commercial activities now out of reach, as well as the country’s economic stakes, it seems that the firm had no choice but to close its doors permanently.