Voonik merges with Bangladesh-based Shopup
With the merger, Voonik’s management team that includes its founders, Sujayath Ali and Navaneetha Krishnanva, will be joining Shopup as co-founders of the company.
Voonik had recently scaled down its operations and was retailing only private labels over the last few months in the country.
After struggling to find buyers and investors in India, Voonik decided to merge with an e-commerce platform from the neighbouring country and plans to use its expertise to build Shopup further in the coming months.
Commenting on the merger, Voonik founder and CEO Sujayath Ali said: “Voonik is joining hands with ShopUp, a rocketship startup from Bangladesh. We are incredibly excited about working with Afeef Zubaer Zaman, Siffat Sarwar, and Ataur Rahim Chowdhury [Shopup founders] to help build what will be Bangladesh’s first Unicorn.”
Voonik is a fashion online marketplace founded in 2013 by Navaneetha Krishnan and Sujayath Ali. Shopup started as a social commerce platform to help micro-entrepreneurs in Bangladesh.
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