eChai Showcase - Takas.lk - One of the largest eCommerce store in Sri Lanka.
Today on eChai Showcase we are introducing an inspiring startup from Sri Lanka - Takas.lk which is one of the largest eCommerce store in Sri Lanka. It started as being the largest online store for electronics and now have rapidly expanded into other categories. The customers can order goods online and have them delivered to their doorstep anywhere in the island. They accept credit cards and have the option of Cash on Delivery (CoD) as well. The company was founded by Dilendra Wimalasekere, Lahiru Pathmalal and Murtaza Moosajee and has been funded by venture capitalists including The Sri Lankan Angel Network (Blue Ocean Ventures) and the Indian Angel Network.
Here is the insightful and candid conversation with Lahiru Pathmalal, Co-Founder, Takas.lk. Join the conversation to ask any specific question to Lahiru.
How did you come up with the idea of 'Takas.lk' ?
The idea for eCommerce was everyone's mind in Sri Lanka at the time (2012). I moved to Lanka in 2009, and was looking for to buy a TV online, and I could not find anything online. At this point, I figured if I am looking for stuff online, others might me too. I took the idea to Dilendra Wimalasekara (co -founder) who backed me on the idea. He too was thinking about the same idea at the time. We brought in Murtaza Moosajee (co founder) shortly after that since he had a great operational background.
What problem are you solving?
We are solving 2 major problems 1.) access, SL has a rural community that is well off compared to the region. But they have little access, we let customers access a wide range of products, that they can get their hands on a short amount of time. takas.lk was the first to introduce cash on delivery in the island. Everyone else followed the trend, so we have empowered consumers to have access to so many products with ease. 2.) Choice, with the issue of access comes the problem of choice. Most customers have very little choice in the island. Any one retail store will have 300-400 products at best. We offer them thousands of products at a click of a button.
How does it work?
We are very eCommerce. People can place an order online and we deliver. We use a hybrid model, as in we stock some key products (on consignment), and then also use the market (selected vendors) to have regular stock updates and use their inventories.
What is your target market?
anyone in Sri Lanka online
What is your competitive advantage?
Great service, 3 day delivery time anywhere in the island and choice
How much time did it take you from conceptualization of 'Takas.lk' to actually launching it in the market ?
Conceptualization did not take a long time, but launching post funding took us 5 months.
Tell us more about your team?
We have a small team, but they are really great :); we are currently 15 strong and is one of the biggest eCom companies in the island. takas.lk is a culmination of the team and the work they put in.
What is your technology stack?
If your asking about what we use, we use Magento as the back end. We have one CTO (Kalinga) and Imesh who helps him out, he also doubles for marketing. Going forward tech will play a huge role in takas, as we use tech to make us much more efficient. Our team uses pre existing technologies to make things works better, we are not re inventing the wheel at takas.
How do you plan to market your product? What are your customer acquisition strategies?
We mainly use digital, as we can understand where are customers are coming from and optimize. We use a little radio for brand development.
What is the revenue model of 'Takas.lk' ?
We get a commission for everything we sell at takas.lk
What do you want to achieve from this? What is your larger goal or vision?
To be the number one eCommerce site in Sri Lanka by adding value to our customers and making their lives a little bit better.
What sort of support and feedback are you looking from the community?
Ideally, on how to do things better. Also funding is a key issue. So any ideas on how to better pitch and acquire funds will be super helpful.
You can also watch this video of Lahiru Pathmalal (CEO, Takas.lk) sharing his thoughts on entepreneurship and taking the leap into e-commerce.
