Startup News

Zumi, Kenyan Based Digital Media Start-up Shuts Down

Zumi - cfamedia

One concept that has swept the technological sphere in recent times has been disruptive technology.

Some years back, Kodak and Nokia were at the very top but today, they are gradually fading away due to disruption.

Every technological concept one can think of has basically been disrupted and the paradigm shift in media from print to digital has been widely celebrated as the next step in the evolution of the media.

As much as this step has been celebrated, it comes with it challenges and for those that can’t keep up will have to shut down.

Zumi, a lifestyle and fashion-oriented media platform has finally pulled the plug on its operation and shut down due to low raised capital and revenue.

Yesterday, the company officially make this announcement via their social media account that the company will shut down, but all the individual content producers will still go on with their jobs.

According to a post that was shared on their Instagram account “Zumi wants to thank all our fans for supporting us for the past three years! Unfortunately, today, we close the shop but our producers won’t stop creating contents.”

Zumi was founded by William McCarren (Ex-Rocket Internet Africa Employees) and Sabrina Dorman.

Three years ago, the media startup was launched and so far, it has raised over $250k UAE based Majlis investment, Chandaria Industries investment arm Chandaria Capital, and few other investors.

The plan was that the startup will pivot into an eCommerce platform as advertising revenue but due to some limiting factors, the plan did not come into fruition.

This development comes as a surprise to many people due to the fact that Zumi came on board with a lot of promises.

Zumi is not the only media startup in this boat. Some other media startups in Kenya are soon to follow suit.

Kenyans are still comfortable with print media and if digital media start-ups are to survive, more work still needs to be done.


Featured Image: vccircle


Don’t miss important articles during the week. Subscribe to cfamedia weekly newsletter for updates.

Thanks for Contributing!

Tweet
Pin
Share