Shopping portal rides Egypt’s e-commerce wave
An online shopping portal created by young Egyptian entrepreneurs has seen an uptick in users, as Egypt's startup scene maintains optimism.
An emerging shopping portal in Egypt is riding a growing e-commerce wave by attracting more than a million users every month.
The startup Yaoota, which was launched in June 2014 by friends Sherif El-Rakabawy and Mohamed Ewis, allows shoppers to compare prices online for products ranging from electronics to kids’ items.
In October 2015, the startup managed to raise $2.7 million from an Abu Dhabi family investment firm called KBBO Group.
The shopping portal’s co-founder, Rakabawy, said that his website was attracting about 70,000 users per month when it first got the UAE investment. Now Yaoota has 1.1 million monthly users, he told Al-Monitor.
