Last week when I heard about Mauqa Online shutting down, I was crushed. Not because a startup is not supposed to fail – 95% of startups fail.
But what happened with Mauqa was at no fault of their own.
I will leave the autopsy for some other day. In this newsletter issue, my only ask is that you spread the word about ex-Mauqa Online employees looking for work. Please check out this link and reach out if you or someone you know is looking for ROCKSTARS.
For those of you who may not know, Mauqa Online is (was) Pakistan’s TaskRabbit. And unfortunately, it wasn’t the first startup trying to replicate TaskRabbit in Pakistan – Sukoon was the first – and it also failed.
💰 Funding (disclosed)
CreditBook, the Karachi-based lending CRM startup, raised $1.5 million in Seed investment from BitRate, VentureSouq, Better Tomorrow Ventures, Ratio Ventures, Toy Ventures, Quiet Capital, and i2i Ventures.
Are startups in Pakistan overvalued? RetailO’s eye-popping seed funding. Increase in investments is directly related to positive economic indicators. ESOPs get SECP blessing. 13 Pakistanis make it to the Forbes 30 and Under 30 list, including some startup founders. Pakistan’s inclusion in Amazon’s ‘list of countries currently accepted to register for selling’ was celebrated prematurely.
Saramayacar’s Rabeel Warraich talks Wapistani Effect.