In a knowledge-sharing event titled “Insight Exchange: Behind the Scenes of a Startup” held in Dhaka yesterday, ShopUp founder and CEO Afeef Zaman expressed the company’s ambition to become the first Bangladeshi firm listed on NASDAQ.
“Our 65% investors are foreign. That’s why we want to be listed on NASDAQ,” Zaman stated, emphasizing the significance of this goal for attracting more international investors. “It is a very hard task, but I believe it is possible. If we can work together, I hope we will achieve this dream.”
ShopUp, the Singapore-based parent company of Bangladeshi B2B commerce platform Mokam, smart courier service Redx, and FinTech Onkur, aims to enhance its global reach through this listing.
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Mamun Rashid, President of ShopUp, highlighted the company’s mission to streamline product distribution from major producers to small shops, ensuring timely delivery at fair prices. “We have reached over 31 million people through a vast network of small shops. Our target is to increase this to 80 million,” he said.
Director Shabab Bin Shareq noted that investor Peter Thiel, known for his early investment in Facebook, is among ShopUp’s backers, underscoring the potential for high returns despite the inherent risks in startup investments. “After five years, we can now say that we are safe,” Shareq added, reflecting on ShopUp’s journey and resilience.
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