Fact Check: Gyanendra Shahi’s Claim of Launching Nepal’s First E-commerce Platform is False
साउन ५, २०८२ २०:६
Kathmandu (Hikmat Acharya, TechPana Fact Check): MP Gyanendra Shahi has claimed that the e-commerce company he co-founded is the first or possibly the second platform of its kind in Nepal. In a recent podcast interview, Shahi said that the platform, KTM Buzz, which he launched with friends in 2017, is among the earliest e-commerce ventures in the country.
However, TechPana Fact Check has verified that this claim is misleading. While it is true that Shahi helped launch KTM Buzz, numerous e-commerce platforms had already been operating in Nepal years before.
The Claim
On June 30, 2025, YouTuber and comedian Sajan Shrestha released a podcast episode featuring MP Gyanendra Shahi, who is also the spokesperson for the Rastriya Prajatantra Party (RPP). The one-hour and 50-minute episode covers Shahi’s personal life, education, political views, and business ventures. Several clips from the podcast are now viral on social media. At the 37-minute mark of the video, Shahi begins talking about his business background. At 37:08, he says: “…we said we would do business. Three of us friends came together and opened a company. Carrying sacks of rice…”
Sajan Shrestha then asks, “What was your business?”
Shahi replies: “We opened KTM Buzz.com. Initially, we started with food. What will we do now, man? No money. Fifty thousand from me, fifty thousand from someone else, and the business started with 1.5 lakh rupees.”
He goes on to say: “We didn’t know what to sell at first. We all came from Delhi after studying. We didn’t know what to do. When we were in Delhi, Flipkart was all rage. So we started an online company called KTM Buzz.com, thinking we should do something similar. We even created an app. But no one ordered online.”
He continues: “We are almost the first online seller in Nepal. We are probably second in that online business. Kaymu is with us. Kaymu was probably a little older, wasn’t it?”
In effect, Shahi suggests that KTM Buzz may have been Nepal’s second e-commerce platform. The video had received over 231,000 views at the time of publication. Watch the full video.
The Investigation
TechPana Fact Check analyzed this section of the podcast, beginning at 37:11 where Shahi describes forming the company with three people and a total capital of Rs 1.5 lakh, Rs 50,000 from each partner.
At 37:25, he says they began with food. By 37:37, he refers to Flipkart as his inspiration and describes KTM Buzz.com as an e-commerce platform.
He states that an app was developed, but admits there was little to no customer response. He claims to be Nepal’s “first onliner”, a term that doesn’t exist but presumably refers to being among the first in e-commerce.
However, his statements are inconsistent. After first claiming KTM Buzz was the first e-commerce platform, he backtracks, suggesting it may have been second, after Kaymu. He adds that when online sales failed, he began selling food door to door, eventually shifting to electronics.
He recounts buying rice at Kalimati Bazaar, transporting it himself, and selling it directly to households. He says he did this for a month, gained confidence, and then pivoted back to online sales under the same KTM Buzz name. He later started offering electronics like refrigerators, TVs, rice cookers, and gas geysers.
To demonstrate the success, Shahi claims he sold 50 to 60 TVs per month and began assembling electronics himself. He also claims to have made a profit margin of up to 60 percent by importing parts from China and assembling products locally. “A motor cost Rs 550, other materials Rs 550, fittings Rs 200, so the total cost was Rs 1,300 to 1,400. We sold that for up to Rs 4,500,” he says. “The margin in electronics is very good.”
To summarize his three-minute segment:
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He initially claims KTM Buzz was Nepal’s first e-commerce platform but then says it might be the second after Kaymu.
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He says the company was started by three people, each investing Rs 50,000 (total Rs 150,000).
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The business began by selling food online, later shifting to door-to-door delivery and then to electronics.
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He claims to have sold 50-60 televisions per month.
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He says profit margins reached up to 60 percent.
Counter Evidence
To verify these claims, TechPana’s Fact Check desk began by examining the current status of ktmbuzz.com, which is now inactive. However, a Facebook post dated August 27, 2017, from Shahi’s account shows a product image linked to KTM Buzz, supporting that the business was operational around that time.
Searching ktmbuzz.com on Google led us to a Facebook page titled “Nepal Wholesale Market.” From a contact number listed there, we reached Bharat Rimal, one of Shahi’s former business partners.
Rimal confirmed that the company was established in 2017. According to him, the ownership structure was: Bharat Rimal (40%), Gyanendra Shahi (30%), and Hrishikesh Ghimire (30%). Rimal directly contradicted Shahi’s investment claim. While Shahi said the startup capital was Rs 1.5 lakh, Rimal stated this was inaccurate.
He confirmed that the three met during their CA studies in India and were inspired by Flipkart. They formally launched KTM Buzz.com in Mangsir 2074 (late 2017). “I had 40 percent share, Shahi and Ghimire had 30 percent each. Because Shahi was good at marketing, we let him invest less. But even then, his investment was far more than Rs 50,000,” Rimal said. He added that the website alone cost Rs 130,000 to build, and the app development cost about Rs 1 million.
Rimal also refuted the claim that the company began by selling food. “We started with an electronics business. I don't know what he did after leaving, but when we were together, there was no food business,” he said.
Using the Wayback Machine, Tekpana found that ktmbuzz.com was first registered in 2013, but was only active from 2017. An archived snapshot from May 25, 2017, shows the site listing categories such as astrology, books, computers, electronics, fashion, furniture, kitchenware, and some food items. This contradicts Shahi’s claim that they began by selling only food.
Rimal stated that Shahi was part of the company from Mangsir 2074 to Bhadra 2075 (approximately 9 months). He also rejected the TV sales figure. “We never sold 50–60 TVs in a month. Even during the IPL season, our max was 30,” he said. As for profit margins, Rimal said: “There was no 60 percent profit. Margins on electronics were between 15–23 percent, depending on bargaining skills.”
Let’s talk about the claim that KTM Buzz was Nepal’s first e-commerce platform. According to Bharat Rimal, the company, Market Hub Pvt. Ltd., was officially registered and began operations in Mangsir 2074 (November 2017). Shahi later walked back his claim, suggesting instead that KTM Buzz might have been the second such platform in Nepal, since Kaymu had entered the market earlier.
Website outlook records show that ktmbuzz.com was registered on May 5, 2016, and expired on May 5, 2021. However, the website appears to have only become active in April 2017.
In reality, e-commerce platforms had already been operating in Nepal nearly two decades earlier. For instance, Thamel.com, which sold gifts and festival-related items, was launched in 2000. Muncha.com began offering gifts, cakes, and electronics in 2003.
By 2005, HamroBazar.com had established itself as a major online marketplace for buying and selling new and used goods. Well before KTM Buzz entered the scene, several other platforms– Nepbay (later renamed Thulo.com, launched in 2007), SastoDeal (2011), Oliz Store (2011), Kaymu (2012, later acquired by Daraz), Urban Girl/UG Cakes (2012), and Mero Shopping (2013)—were already active and thriving in various sectors.
These companies had built strong footholds in Nepal’s online market, offering products ranging from electronics and fashion to household goods and daily essentials. By the time KTM Buzz launched in 2017, the e-commerce sector in Nepal was already well-established and highly competitive.
KTM Buzz also lacked media coverage at the time, unlike other established platforms. Its visibility on social media was low, 35 posts on Facebook from 2017–2018, and only 16 posts on X (formerly Twitter). Companies that operated online and gained public attention at the time were also prominently covered by the media. However, KTM Buzz does not appear to have received coverage from any media outlet. Based on these various facts, Gyanendra Shahi’s claims, regarding sales volume, being the first online company (or “onliner” in his own words), and other related assertions, are confirmed to be misleading.
CLAIM
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KTM Buzz was Nepal’s first or second e-commerce platform.
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He launched the business with two friends, each investing Rs 50,000.
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The business began by selling food online, later shifting to door-to-door and electronics sales.
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They sold 50–60 televisions per month.
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Profit margins on electronics reached 60 percent.
CLAIMANT
Gyanendra Shahi
FACT
Gyanendra Shahi’s claim that KTM Buzz was Nepal’s first or second e-commerce platform is false. The platform launched in 2017, long after several other e-commerce companies had already been operating in Nepal: Thamel.com since 2000, Muncha since 2003, HamroBazar since 2005, SastoDeal since 2011, and Kaymu since 2012.
His statement about starting the business with a total investment of Rs 1.5 lakh is misleading, as his former business partner confirmed that the cost of developing the website and app was significantly higher. The claim that the business initially focused on selling food online is also incorrect. Archived website data and partner testimony show that the company primarily sold electronics from the beginning.
Shahi’s assertion that they sold 50 to 60 televisions per month is exaggerated; even during peak seasons, monthly TV sales only reached around 30 units. Lastly, his claim of achieving a 60 percent profit margin is false. According to Rimal, actual margins in electronic goods typically ranged between 15 and 23 percent.
Conclusion
TechPana Fact Check concludes that most of Gyanendra Shahi’s claims about operating one of Nepal’s first e-commerce platforms, investment levels, product lines, sales volume, and profit margins are misleading or inaccurate. Although he positions KTM Buzz as a pioneering venture, the platform entered an already active and competitive e-commerce market. Other platforms had not only existed but had gained strong market presence years earlier. The three-minute clip of his business claims, now viral, does not align with available records, archived website data, or statements from his former partners.
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पछिल्लो अध्यावधिक: साउन ७, २०८२ ११:२०
