Is it the end to Carmudi, a vehicle buying and selling service by German incubator Rocket Internet, is in hot waters in Pakistan?
Yes you are reading it right! According to the sources due to massive resignations from the communications department the end of Carmudi services is near. Also it is reported that the Managing Director of Carmudi has resigned too.
So the reports are high in business hubs that the startup might altogether end its service in the country.
A secret source has revealed that their Managing Director for Pakistan Raja Murad Khan has resigned too. Ever since resignation of Murad there has been no other replacement has been hired.
The startup has also cut off ties with external partners in Pakistan. And that’s why everyone is looking towards the head office in Berlin who is controlling all the actions and services.
The closure of Carmudi will not only effect the business of startup company but also the employees who are working in Carmudi offices since long and their income is totally dependent on their job they are afraid of losing their job and income that might cause unemployment.
The sources have also said that Carmudi was doing good business but was not enjoying the full profit or benefit. When a company suffers lose it usually shuts down but we are not sure how the reliable sources are? It would be revealed when they make any official announcement and give reason for the closure of the company.
Whatever it is, it’s surely not good and we are not in its favor. Hope for good.