Wadi records successful turnover in H1
Wadi's successful H1 2017 means it has become operationally profitable
E-commerce platform Wadi has reported a 200% increase in turnover, resulting in the site becoming operationally profitable in the first half of 2017.
Wadi, a popular shopping platform in the UAE and Saudi Arabia, revealed that after securing $67m Series A funding in 2015 it has now moved towards net profitability.
Wadi also achieved a score of 60% on the Net Promoter Score, a global index that measures customer satisfaction for e-commerce platforms.
Pratik Gupta, one of Wadi's founders, said: "We are at a very exciting and pivotal phase of the Wadi story. In the last one year, our delivery is faster by 50% and our service and product range has changed the way people shop online. This has been made possible because of our dedication to pushing the e-commerce boundaries to further excel customer experience.
"Achieving our operational profitability has solidified investor confidence in us and deepened their understanding of Wadi's business culture. The next 18 months will see us achieving our net profitability and we can't wait for the next chapter in the Wadi journey."
In the second half of 2017, Wadi has revealed its expansion plans where it will extend its international product portfolio allowing customers to purchase such brands without incurring international shipping costs.
Wadi operates in 25 cities across the UAE and KSA, Wadi's large network of delivery systems, run by more than 200 delivery vans and drivers ensures an unravelled faster and on time delivery service.