Rocket Internet is shutting down its office supplies e-store OfficeFab in Southeast Asia.
OfficeFab operates online B2B office supplies portals in Malaysia, Indonesia, Vietnam and the Philippines. The company decided to terminate the e-store as it could not attract funding despite its good performance.
Reports say that the capital from OfficeFab will be reallocated to Rocket Internet’s OfficeYes.com which sells office supplies online in India.
OfficeYes.com is the company’s highest revenue generator in office supplies e-tailing business.
Berlin-based Rocket Internet has also closed its online shopping site Mizado.com in the UAE and online furniture store Home24 in Malaysia and Singapore.
Meanwhile, its online shopping portals Lazada, Zalora and FoodPanda have been performing well, attracting investments from the likes of JP Morgan, Kinnevik, Tengelmann and others.
Recently, Rocket Internet launched two new online ventures in Pakistan – real estate platform Zamudi and taxi mobile app EasyTaxi. With the new additions, Rocket Internet now operates five online companies in the country, the other three Daraz, Azmalo and FoodPanda.
