User:Tor Boy/ইভ্যালি

Evely is an e-commerce marketplace that operates in Bangladesh. The company was founded by Mohammad Russell in December 2016. Their strategy of attracting buyers with enticing offers has caused a lot of excitement among the people as well as a lot of criticism.

History
Evali was established in 2016 as an e-commerce platform. From the beginning, the company focused on competitive pricing for known growth. Offers lucrative discounts on high priced products like motorcycles, cars, mobile phones, home appliances and furniture. At the beginning of their establishment, they offered very lucrative offers like "Cyclone", "Earthquake" (Earthquake), etc. 100%, 150% cashback to the buyers.

Evali has also sponsored the Bengali film Mission Extreme and Mission Extreme-2 directed by Faisal Ahmed.

Criticism
While the company has been successful in attracting customers with huge offers, discounts and cashback, the company is now at the forefront of customer suffering. Cashback has been with the company for a long time but the customer cannot cash it due to complicated rules. Only by adding more money with the cashback offer does he have to buy new products with that money.

According to the report of the Central Bank, the number of e-Valley subscribers till February 28 was 44 lakh 75 thousand. At the same time, the company's debt stood at Tk 403 crore. The current assets were only 75 crore rupees. Apart from this, E-Valley did not provide goods with an advance of Tk 214 crore from the customers. The companies from which E-Valley bought the products also owed Tk 190 crore. It is possible to pay only 18 percent of the arrears with current assets. The court recently banned the chairman and CEO of Evali from leaving the country.

Rewards
Evali was selected as the best company in the e-commerce category at the Channel I Media Awards-2020 held in February 2021. In November 2020, Evali received the eCommerce Movers Award (ECMA) from e-CAB for their food service 'Ifood'. In February 2020, the Singapore-based international magazine AsiaOne recognized Evali as the fastest growing brand in Bangladesh.