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Jabong reports 1.95M orders, 0.79M transacting customers for Q1 2014

Jabong, the Rocket Internet incubated online fashion retailer, reported that orders increased to 1.95 million for the quarter ended 31st March 2014 (Q1 2014), from 1.78 million in the previous quarter, and 0.72 million in Q1 2013, according to data published by its investor Swedish investment firm Investment AB Kinnevik. Investment AB Kinnevik is an investor in Jabong and other Rocket Internet portfolio companies. This growth in orders placed represents a 170.83% increase in orders year-on-year. However, orders increased only by 9.8% quarter on quarter, validating that Q1, which follows the festive season, is a weak quarter for commerce. Q4 had witnessed a growth of 56.89% over Q3. Jabong now has a total customer base of 2.89 million, as opposed to 2.34 million in the previous quarter and 1.04 million in Q1 2013. While the customer base grew at a rate of 30.43% in Q4 2013, in the first quarter of 2014, it reduced to 1.30%. Source of revenue Most of the company's revenue comes from women's apparel, followed by men's footwear and accessories. It is not clear how Jabong's revenues will be affected by Flipkart's acquisition of Myntra. Investors are right now split on how that deal will affect other players in the industry. Jabong has secured a multi-million dollar investment earlier this year, of which $27.5 million investment from UK’s development finance institution CDC Group plc. Growth in customer base Jabong's customer base more than tripled to 2.34 million by the end of 2013, from 749,000 users at the beginning of the year. In the…

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