Rocket Internet is expanding its team in Myanmar to keep up with the growth of its ventures in Myanmar.
Rocket ventures entered Myanmar in 2012 and was among the first foreign tech venture in the country, just before the foreign telecom operators officially entered the market in 2014.
“The market is growing fast and to keep-up we are expanding our team. As a company in the HR sector ourselves, we believe success is all about having the right people,” said Bart van Dijk, the managing director of work.com.mm, a job portal in Myanmar.
The four portals held a job fair in the first week of July to recruit for the venture.
Motors.com.mm’s which is about “everything cars” is looking to expand its operations, said Raja Khan, its managing director told DEALSTREETASIA via email.
Myanmar internet penetration is increasing with Myanma Post and Telecommunications (MPT), reaching 20 million users by the end of June 2016. The two foreign operators, Telenor and Ooredoo have also launched their 4G network recently. Telenor has 16 million customers in the country while Ooredoo has 6.9 million users.
“It’s amazing to be doing business in Myanmar during these exciting times. Never in history has internet usage risen so fast as in Myanmar over the last two years. Interestingly, a lot of internet users are mobile-only, which results in visits from smart phones being over 50 per cent of total traffic on most of our websites,” said Dijk.
Although Rocket refused to disclose exact investment figures, Khan said they intend to keep pace with the growth in the Myanmar economy by increasing their footprint.
“E-commerce is quite dependent on telecom and this is the reason we find it a symbiotic partnership with the telecom operators in Myanmar,” said Sumit Jasoria, managing director of the two e-commerce companies.
Shop.com.mm in 2016 partnered with Ooredoo for its first online mobile sales while Kaymu.com.mm has been working actively with Telenor to reach new customers.
Among the four ventures of Rocket, work.com.mm and ads.com.mm have the highest number of visitors as they appeal to a broader group of people who are looking for a job or trade goods on an ongoing basis.
Jasoria said that he sees a lot of customers coming from the use of mobile phone. “The business is seeing good growth and with the growing reach of telecom, e-commerce will continue to reach more people across Myanmar,” he said.
“Of course in the beginning it was quite challenging to run websites when only one per cent of the Myanmar population had access to internet. Another, more recent challenge is that our business models are very simple and have low barriers to entry. In combination with a very high interest from abroad to invest in Myanmar, the market is becoming quite competitive,” said Gijs Verheijke, regional CEO of everjobs, the parent company of work.com.mm.