06 Mar YuuZoo Launches YuuVillage in India, A Unique New Platform Bringing Social Commerce to India’s 800 Million Rural Population
- YuuVillage, built from scratch by YuuZoo, empowers India’s vast rural population with an online ecosystem offering robust social networking services and access to products from the private as well as government sector
- The platform, launched in partnership with Apple’s biggest distributor in India iComp Digital Media, will make its debut in Karnataka
- It will be marketed and distributed by a projected over 50,000 partially government-owned Common Service Centers (CSCs), reaching all of Karnataka’s 27 districts, with a population of over 66 million1
- The YuuZoo-patented platform supports the government’s national Digital India campaign
Singapore, 6th March 2017: Singapore Exchange listed YuuZoo Corporation Limited (“YuuZoo” SGX:AFC) – together with its new franchisee in India, iComp Digital Media, the biggest Apple distributor in the country, today announced the launch of its newest platform called YuuVillage (http://www.yuuvillage.com/).
Following YuuZoo’s sale of regional franchise license to iComp Digital Media, the two companies have decided to focus on empowering India’s huge rural population to rise from poverty through the use of digital services.
By introducing YuuVillage to India’s huge rural population, YuuZoo and iComp Digital Media provide farmers and rural villagers with an efficient and robust digital ecosystem that enables them to reach the world’s fastest growing online economy.
Through YuuVillage, local farmers will be able to bypass middlemen and sell directly to end consumers, thereby transforming themselves into competitive business owners and traders. The platform will anchor on two core aspects: (1) social, linking farmers, consumers, insurance companies, banks and investors to each other and enabling smooth, direct and instant communication with each other and (2) commerce, whereby consumers can purchase goods directly from the farmers through individual purchases or via subscriptions offering discounts to consumers and a stable order stock to farmers. Payments will be done using YuuZoo’s own payment platform YuuPay.
The project will kick-off in Karnataka, the eighth largest state in the country. Karnataka’s capital is Bangalore, known as the Information Technology hub of India.2
YuuVillage will give YuuZoo and iComp Digital Media a strong head start in tapping the massive and virtually untouched e-Commerce potential in rural India, which comprises more than 65% of India’s population.3
Says Mohandas, Head of South and SouthEast Asian Operations at YuuZoo: “In the digital world, our unique franchise business model is based on tying up with the best on-the-ground entrepreneurs who understand the local market and therefore can localise our platforms in the optimal way, leading to maximum user acquisition, retention and monetisation.
iComp is a perfect example of an ideal franchisee. They have complete understanding of the digital economy, the web and mobile services. They also have a very strong presence on the ground. Together with us, iComp has worked very hard since we signed our agreement four months ago. As a result of the hard work, the YuuVillage platform has now been launched. It leverages off a key government initiative and will bring millions of new users in the State of Karnataka into the digital world. We are very excited about the launch and are already planning for its launch in other states in India.”
Says Uma Mahesh, Managing Director at iComp Digital Media: “We are very happy to have launched the YuuVillage platform within four months of signing the franchise deal with YuuZoo. We truly believe that this platform will revolutionise the Digital India movement throughout the village landscape in India.
YuuVillage uniquely stands apart from the fast-growing e-commerce landscape in India. YuuVillage is much more than another e-commerce platform. YuuVillage closes the internet literacy gap between the urbanites and the villagers through interest-specific social networking and commerce. The real-time commerce takes place on the YuuVillage platform with hyper-local attention, creating personalised experiences for users, based on the data that is accumulated by YuuZoo’s patented Real Time Contextual Insights technology which is integrated into the YuuVillage platform. YuuVillage sits perfectly in the Indian government’s strong push for a digital and cashless agenda” he concluded.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), YuuZoo has built a patent-supported mobile and online technology platform on which several in-house developed products in a unique, and for each market fully localized manner, offer targeted social networking, e-commerce, e-Sports gaming and payments to hundreds of millions of consumers across all continents.
With franchisees and partners covering 69 countries with more than 4 billion consumers, YuuZoo reaches a huge global audience through smartphones, computers and TV sets.
ABOUT ICOMP DIGITAL MEDIA:
iComp Digital Media Pte Ltd is a technology company focused on implementing digital solutions throughout India. They work with businesses to transition their brands and products from traditional to digital. Leveraging on the potential of the web, they have been giving companies the added edge to stand apart and stay ahead of their competition. iComp Digital is part of the iComp Solutions Group whom are the leading distributor and the largest partner for Apple India. The iComp group has won many awards in the industry, including Outstanding Performance and Most Number of Apple Products sold in India for 2015 and 2016. Their primary clients include most of the top Fortune 500 companies, the Government of India (Federal and State), major media companies and startups. The iComp group is headquartered in Bangalore and maintains strategic offices in Chennai, Mumbai, Delhi, Hydrebad and Kerala. They also have commercial relationships with more than 200 resellers in India.
To see the YuuVillage platform, log-in to: http://www.yuuvillage.com/.
Angelique Magno, Marketing Manager
DID: +65 6577 0677