IK Desk
Srinagar: While the world and Jammu & Kashmir was busy tackling COVID-19; Moris Adam founded Kashmir’s first horizontal e-commerce marketplace from scratch and took it to multiple milestones.Yes, you read it right. Moris Adam is twenty-three years old, in his bachelor of engineering (computer science) from Gulzar Group of Institutes, and his company is worth millions. Coming from Srinagar, Jammu and Kashmir, Moris got his schooling from Burn Hall School and to a surprise, what would you expect a fourteen-year-old kid to do in his free time? Your answers might be, playing games, cricket, football etc., but no, it was different for Moris.At the age of fourteen, he developed websites and landing pages for SME’s and local businesses.
Speaking to him about the first technology he learned, he said, “I clearly remember, as if it was yesterday, I started with HTML, created hundreds of web-pages, testing new iterations every hour and Internet was not as easily available as it is today, so learning new tech was only from books.”“I have worked for multiple companies during my teenage, creating websites, mobile apps, desktop software and more.”
Moris started his e-commerce startup “koshurstore.com” in 2019, in the view of providing a platform for local vendors and buyers to shop with confidence, fast delivery and more. It turned out, the time was not right, as Jammu and Kashmir were hit by a massive six-month internet blockage, just after four days after the launch of the startup.Speaking to Moris about this experience, he said, “I was not worried. I don’t believe to give up.”
Koshur Store, aka koshurstore.com, has gained over 98% of the e-commerce market in Jammu and Kashmir and is also stepping into the food, online pharmacy and grocery space. Moris with Koshur Store has led some acquisitions, including Khen, Groceries-Daily and Shoob The word “Koshur”, meaning Kashmiri, has become an expression of happiness in the UT of Jammu & Kashmir. A common phrase has come up, “Ye maine Koshur se laya”, meaning “I bought this from Koshur.”
Where Moris said, “I am really glad that my people love the idea, the service and I really feel pumped, when one of my services is making thousands realise seamless deliveries, quality products, offers and more”. Last year, in October, Koshur Store crossed the valuation of 1.1 crores, and since then, they have been growing at a phenomenal ratio of 750% per quarter. After six months when 2G internet was restored, even that had no impact on the growth of this startup, kudos to Moris because if you are not aware, he is known globally for his exceptional hand in technology. He is admired and is an icon for everyone who is in computer science. He is majorly into artificial intelligence, the web & services.The current net worth of Koshur Store and its subsidiaries is about 300 million which sums up to 30 crores in the Indian numbering system after receiving counter investment offers from local and national investors, raising the valuation.
Koshur Store has recently raised an undisclosed amount of funds from angel investors, making it the youngest company to raise funds, all under the leadership and vision of its CEO, Moris.At 22, Moris Adam became the youngest millionaire of Jammu and Kashmir with a net worth of ₹67 million, and today he is 23 and broke his own record, while his company is worth ₹300 million, and his self net-worth has rose to ₹210 million.Moris has proved himself again to a million youth that despite the lack of good internet facilities, problems caused by the COVID-19 pandemic and other issues, nothing can stop you from succeeding in life.
He is an inspiration for the youth of the valley who want to become entrepreneurs and be successful in life.
