Font Size

- Aa +

Wed 24 Jun 2015 10:36 AM

Font Size

- Aa +

Rocket Internet launches new UAE venture

A Dubai-based multi-category online portal has been added to Rocket Internet’s portfolio of online retail ventures.

Rocket Internet launches new UAE venture

Rocket Internet, a Germany-based web group, has launched a new GCC online company through the Middle East Internet Group (MEIG), its joint venture with South African telecom provider MTN.

Wadi.com, a Dubai-headquartered multi-category online portal, has gained Rocket Internet’s support after a successful first three-months of operations in Saudi Arabia.

The website offers a wide variety of products under the tagline ‘Everything. Delivered,’ currently provides delivery services to KSA and UAE and will soon expand to other GCC countries.

Speaking about the company, one of Wadi’s founding partners, Kanwal Sarfraz, says: We felt there was a clear need for a big player like Wadi in the broader online retail segment.

“UAE and KSA are demanding markets and I think that this is a good time to meet those demands with superior service and a great fulfilment platform. Wadi’s core strength is its very talented and passionate team – we strongly believe that we have what it takes to set a new standard for this market.”

Rocket Internet has also announced the UAE launch of Vaniday, an online marketplace for booking appointments at spas and salons, which predominantly follows the business model of UK online service Wahanda.

The website was first launched in Brazil in the beginning of this year, and it is now active in four other locations in addition to Dubai.

A Frankfurt Stock Exchange listed company, Rocket Internet builds e-commerce ventures by replicating proven business models in new markets.

Since launching in Berlin in 2007, the web group has created regional internet groups in Africa, Asia Pacific, Latin America and the Middle East which oversee its operations in more than 110 countries on six continents.

In 2011, Eyad Alkassar, a German of Arab origin, became the managing director of Rocket Internet in the Middle East.  

Aiming to accelerate the growth of the internet economy throughout the Middle East, in 2013 Rocket Internet teamed up with South African telecom provider MTN to launch the Middle East Internet Group (MEIG).

The joint venture’s portfolio currently also includes Carmudi, an online marketplace for new and used cars, Easy Taxi, a cab-ordering app, Lamudi, an online marketplace for real estate classifieds in emerging markets, and Helpling, an online platform for household-related services in the UAE.

Unimpressed 4 years ago

Rocket keeps on launching terrible copies of successful websites in the Middle East....

Check out some of the sites mentioned in the article if you don't believe me. The article didn't mention the only okay website they have in the region either; Namshi