middle east electricity supplier logistics company fetchr bankruptcy edge, current valuation reduced to 1 dollars for sale.
[early bird tickets in buying] 2020 cross-border e-commerce first trend + platform annual inventory + large coffee discussion + professional contacts make! immediately grab votes>>>
middle east electricity supplier logistics company fetchr bankruptcy edge, current valuation reduced to 1 dollars for sale, to save yourself, ceo likely exit management team, in the industry is already an open secret.
fetchr had won 41 million in 2017 dollars b round of financing, was in addition to careem, souq and wadi, middle east north africa fourth b round of financing larger companies, once considered possible under a middle eastern unicorn.,
rapid development of industry
middle east electricity supplier logistics are known to be optimistic about rapid development in industry. at present, middle east north africa of online retail sales scale about in 6 billion dollars, next year is expected to exceed 10 billion us dollars to 2022 could reach 28.5 billion usd.
aramex is middle east electricity supplier logistics boss, according to the third quarter of 2019 financial report, as of september 30 the income of dh 3.782 billion (about 1.031 billion dollars ). among them, growth the fastest is the cross-border international express business, mainly due to cross-border e-business of sustained growth.
in addition to aramex, middle east right now logistics players start mining e-commerce logistics opportunities, including dhl, agility and other logistics giant. even emirates modriča from american to the middle east electricity supplier logistics direct mail services.
no doubt, e-commerce logistics industry is in rapid development. fetchr are here in this background rapidly declined, self-development strategy of error is main reason.
1, rely on capital transfusion of unsustainability
fetchr was founded in 2012, main team from middle east of e-commerce, a founder of markavip. e-commerce now to silence, silently executed royal acquisition, but was also star venture company, in 2012 the total amount of financing 20 million beauty gold.
but after 2012, german incubator rocket internet began in the global emerging market replication a series of e-commerce, set off a wave of electric business flows. 2012, tencent large shareholders naspers and tiger fund start year investment of tens of millions of dollars of frequency bet old electricity supplier souq, rocket's namshi, wadi also began to rise, markavip light are covered up, although several transformation, are powerless, 2018 executed royal low acquisition.
fetchr founder idriss al rifai is markavip early employee one, at that time in order to speed up logistics delivery speed, he in markavip internal established a logistics department
Stay tuned for more information：Global Home textile website 91 Home textile website