Kaymu, the well-known and most popular open online marketplace in Nepal has just rebranded itself. After holding to the name for more than 3 years, Kaymu is now “Daraz”. Yes! Daraz, which is a commonly used household word in Nepal that generally refers to a piece of furniture used for storage.
Talking about rebranding, Kaymu has totally revamped almost all of its online entity, starting from its logo, name, landing page, Facebook page and even the domain name under which it was hosted. Added to that, it has also introduced its mobile apps, the Daraz app, available for both Android and iOS.
Is this an acquisition? Did a company named Daraz buy Kaymu? No, not really! Daraz and Kaymu both are the ventures of the same parent company called Rocket Internet. Rocket Internet is a German company headquartered in Berlin that builds online startups and holds shares in various models of internet retail businesses. So, yeah, this phenomenon of Kaymu rebranding is a merger of two of these e-commerce platforms into one and nothing more.
For the people who are up-to-date with e-commerce industry, it was known and is not a surprise. Rocket Internet had started the merger of its two e-commerce marketplaces, Daraz and Kaymu under a new entity Daraz Group since June of last year in several of its operating nations.