The TCS-owned e-commerce business, Yayvo, is shutting down after making a series of attempts to sell the business. Launched as an online shopping portal in 2014, a revamped version of TCS Connect, the business failed to survive in the ever-changing and competitive e-commerce space of Pakistan.
The Story of Yayvo and its Struggles
Yayvo was founded as an online marketplace back in 2012 when the e-commerce business has just started to boom. The website used to sell around 100,000 products ranging from clothes and detergents to mobile phones and televisions. However, the website offered by Yayvo was the biggest hurdle as it does not effectively portray the offerings instead of just a few things that leave the customers hanging.
Launched as a revamped Verizon of TCS Connect, Yayvo stepped in the e-commerce space in 2014 but it was badly crushed by the likes of big players namely; Daraz, and Alibaba. The e-commerce store used to offer a wide range of local and global brands, including electronic gadgets, mobile phones, fashion, men’s and women’s clothing, home decor, lifestyle goods, books, edible items, and much more. However, the layout of the website and lack of proper advertisement also contributed to the downfall.
An Inevitable Downfall
Shehryar Hydri, a Partner at Deosai Ventures, shared a detailed post on Twitter mentioning the facts that contributed to the inevitable downfall of the TCS-owned e-commerce business. He said; “This was a long time coming and it’s a huge lesson for founders in Pakistan.” He further mentioned in the Twitter thread that deep pockets can keep you afloat for years but creating a new DNA separate from your legacy culture is not easy to pull off & is critical for a new trajectory. In short, a digital layer / TCS 2.0 doesn’t work in 99% of cases.
This was a long time coming and it's a huge lesson for founders in Pakistan.
Many interesting BTS stories will be shared but the closure itself is the more important takeaway for now.
1. You can be the largest & oldest courier in Pakistan, ideally positioned to be the Amazon or pic.twitter.com/tREjHd7GSh
— Shehryar Hydri (@sheryhydri) September 28, 2022