Pricekoto 101: Chittagong Based B2B Marketplace Aims Higher
Pricekoto.com, the Chittagong-based B2B marketplace, connects businesses and suppliers and enables big business purchases through its online platform. Founded in 2015, the company has over 2000 verified suppliers on its platform and 300 corporate buyers. It has been seeing a steady growth over the past months and “envisions a future for business purchases which is free from under-the-table transactions and efficient in terms of prices and speed.”
Early last month, we spoke to Salman Ali, Founder and CEO Pricekoto, to learn more about the company, you may see the interview here, and state of the business, growth and the future plans.
State of the union
- Pricekoto is a team of 19 people, as of March 2017, growing. The company had one additional staff apart from its founder when started in 2015.
- It has 2000 suppliers and over 28000 products on its platform and growing. It maintains a thorough verification process to onboard suppliers. Although the company is based in Chittagong, it has suppliers from all over the country and is considering to onboard international suppliers in the future.
- The company now serves over 350 corporate buyers.
- Pricekoto does not handle payment for any purchase.
Source of money
- Pricekoto charges a yearly subscription fee to both buyers and suppliers. Buyers get to pay BDT 10,000 for a year and the fee is BDT 30,000 for suppliers. It offers discounts on subscription fees now and then.
- The company also serves display ads on its platform as an alternative stream of revenue.
- Almost 30% of its OPEX come from its revenue. The initial seed investment came from the founder, Salman Ali and his friends and family. The company plans to raise investment in the near future.
- Pricekoto has a global ambition. The company has been investing in building a verified supplier base which it thinks it has done well. Now it plans to grow that number and onboard suppliers from all over the country. The current supplier base of the company is largely from Chittagong and Dhaka.
- It has plans to get to EPZ areas in the coming years
- And also planning to invest in logistics so that it can help buyers with delivery.