The Yanzo co-founder has announced that the company has seen a 60 per cent rise in business since the Covid-19 outbreak, with home gym equipment amongst the most requested items following groceries and medicine.
It’s not every day that you come across a start-up doubling its revenue during a global economic crisis, but Dubai-based virtual personal assistant Yanzo is the exception. Since the spike in coronavirus cases in the UAE in February, Yanzo – which can find, book and deliver products and services – has seen a 60 per cent rise in revenue month-on-month, according to Co-Founder Tarek Osma.
“We started seeing the boost in the first week of March, and it’s still growing as we speak. Usually we grow at 15-20 per cent month-on-month, given we’re a start-up, but now we’re doing 50-60 per cent month-on-month without any marketing or advertising… I didn’t expect the epidemic to grow, we didn’t see it coming this fast but things were happening really quickly and we’re actually turning orders down because we can’t handle the demand right now. We’re turning down 20% of orders that we’re getting per day,” he said.
The start-up, which is part of the Wamda X incubator, has seen a trend in home gym equipment as more people workout at home due to gym closures as part of measures by the government to fight the coronavirus outbreak.