CellBazaar, Burgeoning Mobile Marketplace of Bangladesh
CellBazaar, MIT Media Lab project, is the biggest mobile based online marketplace in Bangladesh. It is nothing but a platform that contains the information of its customers who are willing to sell their products or services and buyers or people at large go through that information posted by the sellers to search out the product serve their interest best. Cellbazaar is in service industry as well as in IT industry. The main goal of providing service of this organization is to provide error free services to the customer and to fulfill that goal all the activities are run in the organization.
In developing countries, the limits on communication technology hinder business. People must travel great distances to get market information. Isolated and uninformed, farmers, traders and business people have little information, and thus no power to bargain with middlemen. CellBazaar was devised to solve this problem. Using this platform, everyone gathers market information so they can make smart business decisions. In the process they provide a birds’ eye view of the entire market for both sellers and buyers (Qadir K. & Mohaiemen N., 2009).
Kamal Quadir registered CellBazaar as a U.S. business and moved into rapid-action mode. He raised the necessary capital from Omidyar Network, Barred Rock Capital and Gray Matters Capital in the U.S. Soon, they had registered the company as a Foreign Direct Investor—a process which is normally quite byzantine in Bangladesh had filed a patent application with the Bangladesh patent office, and had signed an exclusive partnership with Grameenphone, the country’s largest mobile operator with 60% market share (Qadir K. & Mohaiemen N., 2009).
2.3 Growth of Cellbazaar
Over the year 2010, Grameenphone is the largest mobile phone operator in Bangladesh with over 23 million subscribers. Dubbed the “Craigslist of Bangladesh”, it is a mobile application that brings buyers and sellers together in a mobile environment where they can publish and retrieve information on goods or services. 35,396 posts for multiple products in 141 categories are available for viewing, ranging from livestock to education services to agri-produce to electronics. Users pay standard SMS, WAP and voice rates to access the service. Accodring to the world’s number one web site rating organization Alexa the web page of the CellBazar is in the 53th position in Bangladesh and its 98.5% of the browse are made from Bangladesh. According to the www.alexa.com (viewed 16 December 2010, at BDT 2:58 pm) daily page viewed of cellbazaar is 13,011 and its daily advertisement cost is $238.12. The diversity of products posted has resulted in constant innovation and change. As the company grows and matures, it looks set to be the first Internet model startup in Bangladesh’s history, with global media interest, local imitators, overseas expansion plans, and international-standard management and staffing.
2.4 Platform of Operation (http://corp.cellbazaar.com/)
Short Message Service (SMS): SMS has been phenomenally popular since its introduction in Bangladesh. CellBazaar leverages the simple, widespread power of SMS to bring the market to phone.
Wireless Application Protocol (WAP): WAP is the next generation of mobile phone technology. 12% of all mobile sets in Bangladesh are already WAP-enabled, and this number is growing rapidly. WAP provides an even faster experience as you browse a simple graphic menu to access the entire market space.
WEB: WEB version shows the entire market at a glance on...