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By Charumini de Silva
Caboo World, Sri Lanka’s first multi-tasking e-commerce app, was launched last week with an investment of over $600,000 in a bid to connect entrepreneurs to gain access to global markets and to provide safer travel and better living for every citizen.
Caboo Holdings Ltd. is a Sri Lankan company which offers a plethora of other services including Caboo Taste, Caboo Delivery, Caboo Mall and Caboo Taxi through the Caboo World App.
Strengthened with over 150,000 drivers across the country and available at your convenience, Caboo sets the quality and safety across all the value chain through a network of over 150 certified and well-articulated agents with proven track records, coupled with a systematic process. It currently has over 5,000 vehicles already registered with Caboo, to give unmatched transportation services.
Caboo Holdings Ltd., Chairman Veranga Vithanaarachchi said the Caboo World App will revolutionise the e-commerce space in the country while allowing entrepreneurs to make their living standards better.
“Caboo offers the most reliable, fastest way to order food, perform domestic chores like gas delivery, finding plumbers and electricians as well as for transportation through the taxi service. In addition, the Caboo Mall helps talented Sri Lankan entrepreneurs to gain access to global markets,” he added.
Vithanaarachchi pointed out that the Caboo World App, and particularly its Caboo Mall App, enables Sri Lankan manufacturers to sell their products to markets across Europe, US, Australia, Nepal, Dubai and the Gulf region.
He said connecting and bringing people together for safer travel and better living makes Caboo stand out from the rest of the crowd. “The key drawback in marketing a product overseas was that we enter into those markets expecting big volumes and we don’t have the financial strength to do so. Even if we have the financial strength, we need to have the quality too. Through our app, we have simplified the technology. Once the manufacturer upload pictures and description of the product, he then has to select the region he likes to market the product. Once this goes to the marketing team overseas, they evaluate the product and request a sample. Thereafter, the final touch ups are done by the respective marketing companies. They will position the product in the market,” he said, outlining the process.
He assured to help local entrepreneurs with packaging, branding, marketing and selling of their products to the international market.
Noting that they are following a similar model like Alibaba, Vithanaarachchi insisted as a small economy, Sri Lankans must start selling their products through this platform to gain access in global markets.
“As an exporting country, we need to also make our entrepreneurs export ready and be available to seize opportunities through the US-China trade war. Our platform is an exclusive partner of ‘US is open for business’. Through our simplified platform, we can help our manufacturers to lay a solid foundation to become competitive in the global marketplace,” he added.
He said over $600,000 was invested in the attributes and functionalities to ensure convenience, faster platform to offer a unique and best service to the youth of the country.
“The investment was made as a passion, as a social responsibility. We are not worried on the timeline for the breakeven point. Time duration is in the hands of our consumers, our drivers and partners involved. We don’t have a question mark on the breakeven point as we are confident with our platform. It is not a major worry. We want to give something good for the youth in particular to have better living standards, allow them to be part of the nation-building process. I believe Caboo World will be an eye-opener for many entrepreneurs. Let’s work together to say one day we were co-founders in making Sri Lanka a developed country,” Vithanaarachchi said.
Caboo Holdings Ltd. Chief Technical Officer T. Roshan elaborated on the features of the app and the economic benefits to the entrepreneur as well as to the economy.
“With Caboo, we no longer want many physical resources or contacts to be a world giant. We can simply use platforms of magnitude like Caboo and become a producer of something to the world. It is just a matter of getting on to the platform to become worldwide. There is no excuse now for the entrepreneurs to say we don’t have the resources or the platform to take our products overseas,” he added.
Caboo Holdings Ltd. Director Marketing Iraj Weeraratne said a lot of Sri Lankan expatriates have already pledged their support to purchase local products via the Caboo Mall.
In his capacity as a popular artiste with a large number of followers on social media platforms, he wants to help the rural youth to make use of Caboo World App to become significant contributors to the growth of the economy, while uplifting their living standards.
“There are a lot of talented youth out there in the rural areas of the country that are unemployed and unproductive. Many of them are educated, entrepreneurs, but finds it difficult to gain market access to sell their products and therefore struggles in life. Through my reach in the social media platforms, I want to create awareness of this great opportunity for them to make money through their smartphone and internet to become global entrepreneurs and productive labour for the growth of our country,” Weeraratne said.
Pix by Shehan Gunasekara
