Khatabook, a digital ledger app that helps the users to track their transactions has rebranded its online storefront app to ‘MyStore’. Khatabook had run into some legal problems with its competitor Dukaan which is owned by Growthpond Technology Pvt Ltd. This led them to rebrand the app.
The newly restructured and rebranded MyStore app allows small & medium businesses and sellers to list their products on an online web store and make it discoverable through social media channels or directly through a URL. MyStore has been already installed by more than 2.5 million merchants in the country and it is also available in 13 Indian languages.
Apart from Dukaan and Khatabook-owned MyStore, the digital ledger and online storefront segment have witnessed an increased adoption among small and medium businesses in India in the past few months. Some of the names include Gurugram-based Chqbook, and Tiger Global backed online ledger app OkCredit which offers digital ledger, banking, and lending to small businesses.
Most of the online storefront and digital ledger apps are a mini version of open-source e-commerce platforms such as Magento, Instamojo, and Shopify. These allow the independent sellers and businesses to create their e-commerce website, with support for logistics integration and payments in the back end.
The platform like Magento and Shopify require higher grade software and internet browsing knowledge to create and manage storefronts. With mobile apps like MyStore, a user now can create an online storefront within minutes on their mobile app, even though they don’t offer a payment gateway or 3PL logistics support yet. It may be updated in the coming future to make the app more interesting.
Ravish Naresh (Co-founder and Chief executive, Khatabook) said in a release that, the startup is working on creating on offering the users with payment gateway 3PL logistics support in the coming few months, but the business is currently focusing to add more customers to MyStore.
Naresh further added that MyStore was in a pilot mode in the past few months, and so they decided to have a new brand name that connects them with the users globally. The business that has registered themselves with MyStore comes from different Indian geographies, and almost 40% of MyStore users are also Khatabook users.