MIDDLE East Internet Group (MEIG), a joint venture between Rocket Internet Group, Germany, and MTN, officially launched its latest GCC venture, Wadi.com, in mid-March in the Middle East and just launched its UAE portal last June 11. The Dubai-based e-commerce company serves as a multi-category online portal, true to its tagline, ‘Everything. Delivered.' The website offers a wide variety of products, ranging from consumer electronics and apparel to car accessories and nutritional items, and will in time expand to books, furniture and much more. While the competition is strong, Wadi's co-founders aim to be the leading online store for everything in the Middle East by concentrating on creating experiential transactions by offering 24-hour deliveries, an unbeatable customer experience and increased time on returns. Wadi's founding team comprises of Kanwal Sarfraz, Ankit Wadhwa and Pratik Gupta who hail from McKinsey and Jabong respectively. Ex McKinsey employee and COO of Wadi, Kanwal Sarfraz, said “we felt there was a clear need for a big player like Wadi in the broader online retail segment. KSA and UAE are demanding markets and I think that this is a good time to meet those demands with superior service and a great fulfillment platform. Wadi's core strength is its very talented and passionate team – we strongly believe that we have what it takes to set a new standard for this market.” Wadi operates from three cities with state-of-the-art fulfilment centers in Riyadh and Dubai, Tech and Digital marketing are based out of Delhi while its headquarters remain in Dubai. Wadi currently provides delivery services to KSA and UAE and will soon expand to other GCC countries. Growing fast with 500+ top brands, 50+ product categories and 1,000+ sellers already in the bag, Wadi has managed to create a name for itself in KSA within a short span of time. Wadi's KSA launch coincided with a daring Best Price Guarantee – Wadi customers who found campaign products for a lower price at any other online retailer would get twice the difference back. Launched through social media only, the campaign quickly gained a lot of popularity and is widely talked about. Rocket Internet is also home to the Middle East's leading fashion website, Namshi, which was launched in December 2012 and has gained recognition throughout the region for its focus on customer service and wide assortment. Rocket Internet is known for making a mark on online retail across many countries. Other names associated with Rocket Internet include Jumia, Jabong and Lazada, which have all disrupted traditional retail formats in their home markets. — SG
