Hamrobazar got acquired!!
Well if this piece of news doesn’t get your attention then I don’t know what would. Sounds too harsh?? Haha! Just kidding.
However, still, this is big news, and who acquired it would be another big news for everyone who is following this topic. For the record, if you are wondering why this news has so much weight then I must say it is one of the largest tech-buy in Nepal to date.
Now let us do some background checks before spilling any beans.
What is Hamrobazar?
Started around 10 years back, hamrobazar is a free online classified. It enables individuals as well as companies to list a wide variety of new or used products online.
This is a general google description for hamrobazar. But the perfect definition would be it is a goto place for every Nepali these day before buying anything. In these years, hamrobazar has changed the buying habit of Nepali. Well, the mentioned ‘Nepali’ might not enclose every Nepali. Yet a large section comes under the umbrella of mentioned Nepali.
How is hamrobazar performing?
No one can ignore the fact that hamrobazar is one most accepted platforms in Nepal. But if you look at the interface of the site it is too old school.
From a widely accepted site like hamrobazar, the interface should have been a little better. Not only on the web, but the app of hamrobazar has also many issues. Time and again the makers of the app are criticized for not updating the app. Despite all these, the platform is still getting all the attention from all over. And that is amazing.
Another thing we can see in hamrobazar is the lack of proper details in the listed items. Incorrectly spelled title of the products and some unclear descriptions, we can see all types of things on the site. However, these types of things worked in the favor because they made every section of users convenient to use the platform.
Although there are some issues with the platform, we have to agree that registering and posting an ad in this classified is quite easy. Even for buyers, browsing for the products is also hassle-free. Other than that hamrobazar has unlimited potential customers. It is a 24/7 marketplace for your products and services. On top of that, all of this is FREE.
Now let’s get back to the topic where we started.
Also Read: Have a business idea? Get your funding here!
Who acquired hamrobazar?
The noise started when MD of Next Venture Corp, Kavi Raj Joshi updated a post on Facebook.
His post clearly stated that hamrobazar.com got acquired. And the speculations of “who” started in his comment sections. Many started congratulating him and a few among them started to congratulate the MNS family. Well, there is no solid proof of this but few sources are already claiming that it is the Movers & Shakers Holdings (MNS) Pvt. Ltd. who acquired hamrobazar.
For the record, MNS is led by Sambhav Swar Sirohiya. Sirohiya founded Movers & Shakers Holdings (MNS) Pvt. Ltd in 2013. In its 7 years of existence, Sambhav has grown MNS to become a portfolio of high-growth tech-enabled SMEs in industries such as tourism, food, startup acceleration, tech consultation to name a few.
Now the next topic of interest from the post of Kavi Raj Joshi was who will be the new CEO of hamrobazar now?? Again many speculated him being the new CEO. But in the comment section, he has mentioned that the new CEO is someone who has been running a platform business for the last 3 years.
Hence we started a background check on who could be the new CEO?? Well, we have heard of Rohit Tiwari taking that chair.
Yes, the rumors suggest that Rohit Tiwari, the founder of Foodmario. Foodmario is a Nepal-based digital platform that connects home chefs with customers to deliver home-cooked food. And to support this rumor we have another fact that Foodmario comes under the umbrella of MNS. Now I believe these all rumors make sense.
With MNS from the KMG group acquiring the hamrobazar raise one big question. What are the transactions involved???
So we tried to draw a general idea for it. Hence while checking the worth of hamrobazar from the worth of web, it showed the value of worth $464,800. But in reality, the rumor suggests hamrobazar is sold for around 10 crore Rs. And that is one big deal in Nepal.
What would be the future of hamrobazar?
Now with the persons like Sambhav and Rohit Tiwari being associated with the hamrobazar, what would be the future of it is a thing to look forward to.
What changes will the new team make and what will be the new vision?
First things first, as I mentioned earlier it has too old school interface, it is the first thing to improve. The next thing to take note of has to be a better app with better functionality.
These are just the basics we can expect from the new team.
If I have to say personally, I am expecting a standard of Olx as Olx and hamrobazar have the same motive and serving consumers with the same service. If the team can do better than this then it’s eureka eureka for everyone.
Let’s wait for what they have in the store for the new hamrobazar. Fingers crossed!