Pakistani ecommerce startup Shopsy.pk launched its 4th update (Shopsy 4.0) today, scaling its product database from one hundred thousand to one million products. This makes Shopsy.pk one of the largest ecommerce platforms in Pakistan in terms of number of products. The update also brings a more refined search algorithm and user interface.
Imagine a shopping platform with the greatest amount of choice and the ability to compare prices and save money. That is exactly what Pakistani ecommerce startup Shopsy.pk is trying to achieve. Shopsy is a product search engine with the aim of bringing all trusted online stores in Pakistan under one roof. Think of it as Google for online shopping. Everyday, Shopsy crawls 1 million products to offer its users the largest selection of products and help them find the latest prices of products online.
The idea of Shopsy.pk was born when its Cofounder & CEO, Usama Arjumand, returned back to his hometown of Islamabad after spending more than a decade in the UK. An avid online shopper, Usama was disappointed with the lack of choice offered on online stores in Pakistan. An experienced entrepreneur with three prior startups and a successful exit in the UK, Usama decided there was a tremendous opportunity to put his skill set and experience to use.
According to Usama: “With the ecommerce sector growing at a CAGR (compound annual growth rate) of 100% and forecasts estimating it to be worth more than a billion dollars by 2020, this was an opportunity not to be missed.”
A startling fact about the startup considering its scale is that it has been entirely bootstrapped by the founders whilst holding their full time jobs. It is a great example of how a small team of people with few resources but the right incentive and motivation can come together to build something impactful.
Akhter Wahab, the company’s Chief Data Officer, currently works for one of the largest data mining companies in the world. He has previous mined data for global aggregators such as Kayak and has served as a visiting faculty member at the Islamia University of Bahawalpur.
Shopsy’s Chief Technology Officer, Saad Bin Shahid, currently works as a Data Scientist & Researcher at University College Dublin. Previously, he has worked at Discourse Analytics USA where his solutions have served more than a million customers.
Usama Arjumand, Shopsy’s CEO, is a graduate of the University of Nottingham UK. Usama is a serial entrepreneur who has previously successfully exited a venture in the UK and currently heads Gallery 6, the world’s largest social marketplace for Pakistani art and Upstart.pk, a platform for connecting Pakistan’s startup ecosystem.
The founders are now ready to scale Shopsy and bring it to the masses. By offering price comparison and more choice than any other shopping platform, Shopsy hopes to become the first point of contact for online shoppers in Pakistan.
“We have built a strong foundation to grow our traffic and revenue and are actively seeking tech investors that we feel are the right fit for Shopsy. Becoming a household name will require significant capital and resources, but without the burden of supplier management, customer services, warehousing or logistics, we believe this is achievable relatively quickly compared to traditional ecommerce models” said Usama.
Whether or not Shopsy.pk goes on to become a household name in Pakistan, one thing that is for certain is that it has potential to become an industry disruptor and serve as an important customer acquisition channel for online stores in Pakistan.