HomeShopping.PK and Creative Chaos Join Hands to Form Joint Venture

HomeShopping Pakistan and Creative Chaos have joined hands to form HSN Ventures — a joint venture between Shayaan Tahir of HomeShopping.PK and Creative Chaos — that will now fully own HomeShopping.PK.

HSN Ventures, after this transaction, will initiate several new e-commerce projects in various vectors in addition to HomeShopping.PK, which is already a profitable business.

While financial details were not revealed, Shayaan Tahir is said to have majority stakes in the JV.

Shayaan is going to take operational control of HSN Ventures’ projects (including HomeShopping.PK) while Creative Chaos will play its role in building scalable products based on their expertise and experience with leading global ecommerce players.

It won’t be out of place to mention that Creative Chaos has worked with various global ecommerce players including Groupon, ebay, Staples and Sears for their ecommerce products.

Shakir Husain, CEO of Creative Chaos, while speaking with ProPakistani, said that its exciting times to be in e-commerce space in Pakistan as there’s a lot of growing interest from both local and international investors for companies working in the domain.

Shakir said that he is holding financial details for now as they are currently in talks with certain investors for the capital injection into the JV.

Shayaan Tahir, Founder of HomeShopping.PK, while speaking with ProPakistani, said that after this transaction Pakistanis should expect more stores in various untapped e-commerce vectors in the country.

He said that dedicated stores for groceries, toys, furniture etc. are being worked out by HSN ventures that will go live during days to come. He explained that each such store will be headed by a dedicated CEO while HomeShopping.PK will continue to work as an independent store in future too.

With the world’s sixth largest population of 200 million people, of which 55% are under the age of 25, and over 30 million internet users, Pakistan is expected to see a boom in ecommerce in the next 5 years.

There are currently over 20 million 3G and 4G internet users with nearly one million new 3G/4G subscribers being added every month.

Estimates value the current ecommerce market at around 60 Million dollars and project it to rise to well over 1 billion dollars in the next five years.

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