Founder Mona Ataya said she has been approached by some big players in the market
Dubai-based Mumzworld.com, the e-commerce shopping destination for mothers in the Middle East and North Africa, is in regular talks with potential consolidation partners looking to take the company's growth to the next level, according to the platform’s founder and CEO.
“The great news of Careem [last month] is fantastic news. We had the Souq news previously... Organisations need to look at consolidation, because you cannot operate alone,” Mona Ataya, founder and CEO of Mumzworld, told delegates during a panel discussion at the recent Arabian Business Startup Academy.
“We need to look at consolidation, so we've already started many conversations, some more interesting than others. We've already been approached with potential giants and smaller players who want to look at consolidation and I think that's what's going to pan out in the next year.
“So we are always talking. I think you're going to see a lot of changes this year in particular as we kind of take pieces of the puzzle to build the giant that we set out to build. Now what that translates to as far as an exit, again, is to be determined. You know when you build a brand that has key intrinsic value is the dominant player and is investing in consumer needs, anything can happen,” she added.
The e-commerce site, which was launched in 2001, secured multi-million dollar investments from Wamda Capital, twofour54 and Endeavor Catalyst in February 2016 and last October it reported it had successfully closed its Series B funding round with an additional $20 million investment from Gulf Islamic Investments (GII).
The platform said it planned to use the funding to tap into the under-served e-commerce market in Saudi Arabia.
“Mumzworld is now seven years old and we’ve gone through six rounds of funding,” Ataya told academy delegates.
“We were the pioneers in the e-commerce vertical space for mother, baby child and we're the largest in the region. The brand has been growing vertically since we started. We shipped in 20 countries last year. We had the deepest catalogue for Mother, Baby and Child and we catered to 2.5 million mothers. So the brand has really celebrated a lot of firsts and a lot of successes over the years and it continues on its vertical trajectory.”