Founder and C.E.O. of 4Sale –  Kuwait’s leading classifieds platform

In the dynamic and ever-evolving landscape of digital marketplaces, few platforms have made as significant an impact as 4Sale. As Kuwait’s leading classifieds platform, 4Sale has transformed the way people buy, sell, and connect within the region. At the helm of this groundbreaking venture is Tarek Sakr, the visionary founder whose innovative approach and relentless drive have steered 4Sale to the forefront of the industry. In this exclusive interview with CP Magazine, we delve into Tarek Sakr’s journey, exploring the inception of 4Sale, the challenges faced along the way, and the future aspirations for the platform.

Join us as we uncover the story behind 4Sale’s success, gaining insights into the mind of an entrepreneur who continues to reshape Kuwait’s digital economy with his pioneering spirit and unwavering commitment to excellence.

“Transforming Classifieds in Kuwait”

Please introduce yourself to our readers.
Hello, my name is Tarek Sakr, and I am the founder of 4Sale, Kuwait’s leading classifieds platform.

Can you share with us the journey of 4Sale from its inception to becoming Kuwait’s largest online classifieds platform?
I relocated to Kuwait in 2004, and my first attempt at buying a car was a very challenging experience. It was the middle of July, incredibly hot, and I had to visit numerous independent dealerships to find a used vehicle. There was a website called Q8 Car, which was quite outdated and nothing like the websites I was familiar with despite its archaic design, it offered a small amount of new inventory daily – around six or seven cars.
I kept an eye on this site and eventually found a car. This experience made me realize that with some investment and digitization, this kind of listings business had great potential to grow significantly.
Even though this insight began with the automotive sector, I recognized it as the start of a completely new model for classifieds. Back then, in Kuwait, there was a classifieds newspaper, which included everything from cars to real estate and services. Think of it as a pre-Craigslist era, where every country, including the UK, had classified paper delivered to your home. You’d open it up and find all sorts of listings.
As digital transformation progressed, this model began to evolve. During those early years, despite the presence of websites, many listings were still in newspapers. I realized that if we could develop this website further, we could revolutionize the classifieds space. With an endless inventory and immediate listing capabilities, it was a compelling offering. You didn’t have to wait until Tuesday or Friday for your listing to appear – it would go live immediately. That was my initial idea.
We acquired the intellectual property and took over the website in 2006. Within seven to eight months, our growth was phenomenal. We observed a shift – fewer people were listing cars in the newspaper, and more were listing with us.
After a couple of years, we became very profitable. I started thinking that if we could replace the automotive section in a competitor’s platform, why not expand across all sectors?
Initially, we experimented with a few different names and experienced varying levels of success. We gained some traction, but it wasn’t the breakthrough we aimed for. We realized we needed a bigger vision.
In 2008-2009, with the launch of the iPhone, we saw significant growth because we were the first app in the automotive space. We pioneered online payments, allowing users to take a photo of their car, list it, and pay – all in one process. The listing would go live immediately.
This was a completely new concept for Kuwait, and it was clear that people wanted this convenience for all their listings – whether it was phones, electronics, or anything else. They should be able to take a snapshot and put it online seamlessly.
In 2011, we discovered an app called ‘4Sale’ on the App Store – and we loved the name. It was perfect because it wasn’t limited to automotives. ‘4Sale’ was a broad, descriptive name that aligned with our vision. So, we pursued the intellectual property and acquired it.
Before our acquisition, the 4Sale app was trying to compete with us, but it was still in its early stages. We took over the app in 2014, and everything we had developed from 2006 to 2014 came together.
Looking back, I had ample time to figure out our direction and strategy. The landscape was different back then. Today, it’s much easier to raise money. Wherever there’s a need, there are investors ready to fund solutions. Capital is readily available, making it relatively easy to raise $500,000 or even $1 million if you have a good idea and a strong team.

How has the Kuwaiti entrepreneurial ecosystem supported the growth of 4Sale?
The entrepreneurial ecosystem was rather small when I started. I came to Kuwait and discovered this market through my personal journey of experiments, some mistakes, and, above all, a trial-and-error approach.
But what has really allowed 4Sale to flourish is Kuwait’s deeply embedded trading culture. 4Sale is a tailor-made solution perfectly designed to meet the needs of Kuwait, something that is reflected in our growth to date.

Kuwait has a rich trading culture. How has this culture influenced the classifieds sector and the operations of 4Sale?
This culture definitely contributed to our success, as people are enjoying the commerce experience and we, as a company, are witnessing demand for different categories. We now have 197 categories of goods and are eager to keep expanding our offerings to accommodate different people and demands within various price ranges.

With over 1 million active users a month, what strategies have you employed to attract and retain such a large user base?
Our hyper-personalized approach to product and service recommendations has been key to attracting and retaining customers, and it will be our main priority in 2024. By leveraging hyper-personalization, we aim to enhance our strategies for major holidays and events, such as Black Friday, to better serve our customers.
Today’s customers demand interactions that are both highly personalized and straightforward. They seek services that understand their individual preferences and offer seamless access to products. 4Sale is in an excellent position to fulfill these demands by using a data-driven optimization model akin to those employed by Google and Facebook. Our approach is designed to provide targeted recommendations and enhance the overall customer experience.
To support our expected rapid expansion, we are scaling up our infrastructure. By 2025, we aim to achieve two million monthly active users and diversify into more verticals. This growth will capture a substantial market share in a country with a population of around five million, necessitating the right infrastructure to accommodate this expansion.

Can you discuss some of the key milestones and achievements 4Sale has reached over the years?
In 2023, we marked a record-breaking year with a remarkable 11% increase in revenue from our main Consumer business division.
We observed a notable increase in activity across all 197 of our categories, with exceptional performance in the Consumer sector, particularly within the household goods market. The trend of online transactions continued to grow, with over 90% of sales conducted online compared to 65% in 2019.
To harness Kuwait’s digital growth, we launched 4Sale Realty in 2023, a new initiative aimed at revolutionizing the property market through a cutting-edge digital platform. This new vertical has shown rapid growth in rental property listings and is anticipated to become a significant business division by the end of 2024, with ongoing platform enhancements planned for the year.

How did the COVID-19 pandemic impact 4Sale, and what measures did you take to adapt to the changing market conditions?
COVID-19 has undoubtedly posed challenges for everyone. However, for online retailers and digital platforms, it also created a significant opportunity. As more people were literally forced to make purchases online, this surge in online activity proved advantageous for us as an online platform. We successfully leveraged this window of opportunity to elevate our company to a new level.

Digitization has transformed many sectors. How has it specifically changed the landscape of the classifieds sector in Kuwait?
As mentioned earlier, in the past, Kuwait had a classifieds newspaper that was a comprehensive source for ads about cars, real estate, services, and more. This was typical of the pre-Craigslist era about 25 years ago, when countries, including the UK, relied on physical classifieds newspapers that were either mailed to homes or left on lawns. These newspapers were the primary way for people to find listings for various services and products.
As digital technology began to advance, this traditional model started to shift. I noticed that despite the emergence of websites, newspapers were still being used for classifieds. My idea was to build a website that could modernize the classifieds model by offering an infinite inventory and immediate posting of listings, as opposed to the traditional method where you had to wait for specific days for new ads.

What role does innovation play in the continued success of 4Sale, and how do you foster a culture of innovation within your team?
At 4Sale, we ensure that our decisions and actions are aligned with our business objectives. We base our strategies on thorough data analysis and are willing to make tough but necessary decisions to achieve our goals.
We emphasize the importance of giving our best efforts and addressing obstacles promptly. We have learned to balance high performance with empathy by focusing feedback on the work itself rather than on individuals.
This focus on process efficiency and accountability has resulted in significant advancements in our performance and effectiveness. We have tripled the number of product releases and made automation and process design integral to our culture. In 2023, we introduced over 50 new features to our app and website, leading to new peaks in user satisfaction with consistent 5-star ratings. We have also seen a substantial drop in app deletions and user session terminations.

What are some of the most popular categories on 4Sale, and how do you ensure a diverse and comprehensive listing for your users?
The automotive vertical is a cornerstone of 4Sale’s history and remains a significant focus for us. Our management team was the first in Kuwait to create an automotive app offering features like immediate listings and online payments. This innovative legacy is central to our Company’s ethos and has driven our automotive sector growth. Our current collaborations with premier car dealerships and prestigious automotive brands reflect this deep-rooted heritage.
In 2023, we launched 4Sale Realty, an exciting new initiative that leverages Kuwait’s digital growth to transform the property market with a cutting-edge platform. This vibrant vertical is rapidly expanding and is expected to become a major focus for us by the end of 2024, with ongoing improvements planned.
We ensure diverse and comprehensive listings through our cutting-edge technology, which is based on complex algorithms that we are constantly developing.

Can you discuss any partnerships or collaborations that have been pivotal to 4Sale’s growth?
In March, we forged a remarkable partnership with Kuwaiti football star Musaed Alfouzan, who became our newest brand ambassador. This landmark deal marks a significant leap forward for 4Sale as we aim to expand our influence and enhance our presence in Kuwait.

What are the next big steps for 4Sale in terms of expansion or new features?
Our current focus is on expanding our reach in the Kuwaiti market through a variety of exciting product initiatives, IT innovations, and vertical growth opportunities. Naturally, this information remains confidential.

How do you balance the demand for rapid growth with maintaining high-quality service and user experience?
At the core of everything we do is a commitment to quality, which means that rapid growth comes as a secondary priority. Expanding our reach is meaningless if we do not keep our customers satisfied and ensure their security during transactions on our platform.

Your message for us at CP magazine.
Thank you for your time. I hope this was interesting for your readers.