Service marketplace Kaodim to cease operations in July

By Chong Jinn Xiung

The online service platform said it will cease its operations in the four markets it operates in

Tatler Asia
(Photo: Getty Images)
Cover  (Photo: Getty Images)

Malaysian startup Kaodim, founded Choong Fui Yu, a 2020 Gen.T honouree, and Jeffri Cheong, has announced that it will halt operations in Malaysia, Singapore, Indonesia and the Philippines from July 1, 2022.

Kaodim, which acts as an online marketplace for home services, cites the difficult decision was made due to the prolonged Covid-19 lockdowns that have caused operational disruptions, labour shortages and higher running costs. It has also impacted its business and the quality of its services.

Choong, who serves as chief executive officer, said in a post, “More recently, these challenges have compounded further with inflation and rising costs. This has affected customer demand, service provider fulfilment, margins and in turn, our earnings. Ultimately, we feel that we can no longer grow the business meaningfully for the long term, in line with our mission and ambitions.”

The platform started back in 2014 as an online platform to help users find and book services that ranged from electricians, cleaners, plumbers and movers. Kaodim subsequently released its mobile app in 2015. Back in 2016, Kaodim raised US$4 million through a Series A round that was led by Venturra Capital, Beenext, 500 Startups and East Ventures.

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