• Innovation

    Djasur Djumaev Uzum Market Redefining Uzbekistan’s Digital Ecosystem!

    Alexander Johnson

    By Alexander Johnson - Mar 27, 2024 | Updated On: 27 March, 2024 | 3 min read

    By Alexander Johnson , 3 min read - Mar 27, 2024

    Updated On: 27 March, 2024

    Djasur Djumaev Uzum Market. Image Credit: LinkedIn.

  • Uzum is the largest and swiftly growing e-commerce and fintech ecosystem in Uzbekistan. The company serves over 13 million people, a third of the country’s population. Djasur Djumaev, co-founder and CEO, is the man behind this empire.

    So, how is Djasur Djumaev Uzum market redefining Uzbekistan’s digital ecosystem? Furthermore, we will also talk about how Djasur came up with the vision of Uzum.

    Who Is Djasur Djumaev? Meet The Uzum Founder Upclose

    Djumaev is an experienced technology entrepreneur, venture investor, and business angel. More than that, he is the founder and CEO of UZUM, which means grape in Uzbek.

  • The Uzbek’s native Djasur is creating the nation’s largest and fastest-growing digital ecosystem. His platform recently earned unicorn status after raising over $100 million in funding.

    Djasur Djumaev Uzum Market

    Djasur Djumaev Uzum Market. Image Credit: LinkedIn.

    Djasur Djumaev Uzum market and tezkor aims for the next-day delivery. Meanwhile, Uzum Nasiya aims to provide halal financial services, while Uzum business provides a platform for company growth.

    The visionary entrepreneur is also the founder of the Quantum-A Group of enterprises, a global market leader in software and platform solutions development for telecom operators. He is the co-founder of KupiKupon, a popular online daily-deal marketplace and a PaaS loyalty platform for corporate businesses.

    Djasur, a venture investor and business angel, has also invested in Big Data, artificial intelligence, e-commerce, SaaS, and travel technology, assisting in developing some of the most successful companies in those industries.

  • What Made Djasur Initiate Uzum?

    The Uzbekistani revealed in an interview that he got the idea to create Uzum after a personal experience. While receiving the orders for the mobile phones, he got calls from three different couriers who were supposed to bring a single order.

    The irregularity in the delivery made him recognize that these internet retailers lacked fundamental infrastructure, such as storage facilities and order administration processes, and were most likely buying goods from a restricted supply elsewhere.

    Djasur Djumaev Uzum Market

    Djasur Djumaev Uzum Market. Image Credit: Umarxon III.

    It was a massive market opportunity that the CEO couldn’t pass up. He had already gained enough expertise in constructing tech businesses in developing nations, so he diverted his knowledge and that of his team to create the first tech unicorn back home.

    They did not start from scratch; other specific projects were combined to proceed faster while creating Uzum as an ecosystem.

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    Djasur Djumaev Uzum Market Redefining Uzbekistan’s Digital Ecosystem

    The CEO of Uzum mentioned that he was lucky enough to find local business people who shared the same vision. The individuals founded Uzum as a collection of successful local firms established and managed by Uzbek entrepreneurs who combined their resources, technologies, and expertise.

    Djasur Djumaev Uzum Market

    Djasur Djumaev Uzum Market. Image Credit: Social Media.

    Uzum’s merger with Click, Uzbekistan’s most extensive national payment system, brings together two excellent teams with unique operational know-how, superior customer experience, detailed market expertise, and best-in-class talent.

    This is another step toward creating the largest super app on the market, the first created solely in Uzbekistan.

  • Recently, the company secured over $100 million in funding and is looking to add an additional $200 million in 2024. By doing so, Uzum became the country’s first tech unicorn with a valuation of $1.16 billion.

    On another note, you might be interested in reading about the Buddywise Injury Preventing Algorithm.

    What Does the Future Hold?

    As the company is looking forward to expanding its reach and obtaining funding from the Middle East and other European and American countries, it is evident that they are ready to go further.

    Similarly, the CEO himself has mentioned that the team is exploring new verticals and seeking further horizontal integration within the ecosystem.

  • Moreover, Uzum wants to create the country’s largest e-commerce logistics complex in 2024, estimated to boost e-commerce turnover on its platform by more than 150% that year.

    It also intends to introduce a range of ecosystem products for unsecured lending to individuals and small and medium-sized businesses. It further proves that the Djasur Djumaev Uzum market redefines Uzbekistan’s digital ecosystem.

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