An Interview with Aminul Islam, Founder and CEO, AyyKori Digital Ltd.

Aminul Islam is the founder and CEO of AyyKori Digital, a fast-growing cashback and affiliate marketplace based in Dhaka. Aminul and I talk about the origin of AyyKori, the challenges it faced in its early days, AyyKori's current state and plans, as well as AyyKori's organizational structure and growth strategy. We discuss the lessons he has learned from his journey so far, mistakes founders should avoid, his favorite books, and much more. 

Aminul Islam is the founder and CEO of AyyKori Digital, a fast-growing Dhaka-based cashback and affiliate marketplace. In this fascinating conversation with Aminul, we talk about the origin of AyyKori, the challenges it faced in the early days, the current state of the business and plans, and AyyKori’s growth strategy and organizational structure.

We discuss the lessons he has learned from his journey so far, mistakes founders should avoid, his favorite books, and much more. With AyyKori, we embarked on a journey to empower local businesses by boosting their sales through cashback and affiliate marketing channels. 

JR: What went into building the initial operation?

Aminul Islam: To launch AyyKori's initial platform, we three co-founders pooled our savings as the initial investment. Our primary aim at that stage was to create a website where users could explore various brands and participate in simple affiliate marketing. We had to overcome challenges such as convincing customers to trust our cashback offers, given recent scams in the e-commerce sector that had bred widespread consumer skepticism.

Building our technology from scratch was another obstacle, as we aimed to become the first and only platform working with over 100 local brands. Building partnerships with brands was yet another challenge. Integrating technology into our platform and persuading brands to trust us required significant dedication and commitment.

JR: Please tell us about AyyKori's business model.

Aminul Islam: AyyKori offers amazing deals and cashback rewards to shoppers. Beyond that, our network of affiliate marketers helps brands connect with customers and ultimately boost their sales. We work with both local and global brands that want to connect with a diverse customer base.

Our pricing model is transparent and straightforward: it's completely free for shoppers, and brands pay a commission only on actual sales generated through our platform. In essence, AyyKori aims to create a win-win situation, making shopping more rewarding for customers and marketing more efficient for brands. Brands pay us a commission when customers purchase through our platform.

Our major cost centers include technology, marketing, customer support, and brand partnerships. We invest in developing and maintaining our platform to ensure a seamless and user-friendly experience for our customers. Our ultimate goal is to strike a balance between generating revenue and providing our customers with a superior AyyKori experience. Our strong user engagement and sales growth position AyyKori as a promising player in the market.

JR: How does your marketing and distribution work?

Aminul Islam: We use several strategies to reach a diverse audience and create brand awareness. We are currently experiencing a 30% MoM growth in user signups, which indicates the increasing interest and engagement with our platform.

JR: Can you please tell us about how Ayykori operates and your operational structure?

Aminul Islam: We have dedicated teams, including marketing, brand onboarding, and the tech team to support our different operational pillars.

JR: What are the major challenges of AyyKori today?

Aminul Islam: AyyKori operates in the dynamic landscape of the cashback and affiliate marketplace, pioneering the industry in Bangladesh as the first mover. We have built an easy-to-use platform, built exclusive partnerships with 100+ top brands, have a unique Glocal app approach, and finally, our founders come with invaluable industry experience working in e-commerce.

In the short term, our priorities are overcoming technical integration challenges and increasing user engagement. Future Startup: That was the last question about AyyKori.

JR: 3 lessons you have learned as a founder. 

Aminul Islam: Faith in good work: Maintain faith in the value of good work, even in challenging times.

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