Kenyan logistics startup Sendy shuts down, embarks on asset sale
Meshack Alloys, Sendy co-founder, confirmed the sale to TechCrunch but declined to offer further details.
Source: techcrunch.com
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Kenyan logistics startup Sendy shuts down, embarks on asset sale
Sendy, a Kenyan logistics startup that enabled retailers to purchase FMCGs directly from manufacturers, among other services, is shutting down its operations and exploring a sale of its assets, TechCrunch has learned. Last July, it announced a 10% cut of its workforce, which Alloys noted was in response to the “current realities impacting tech companies globally.” Since then, however, Sendy’s workforce has been pruned further in more cost-cutting measures (shuttering a product line and exiting a market).
Source: yahoo.com
E-commerce and regional trade key to growing Africa's logistics
The logistics and fulfilment sector in Africa is a critical aspect of the continent's economic development.
Source: businessdailyafrica.com
More job cuts loom as Sendy changes course in Nigeria
The new changes imply that Sendy will abandon on-the-ground operations in Nigeria for “a fully-integrated tech solution.”
Source: techcrunch.com
After laying off 30% of its workforce, Sendy receives funding from Japanese VC MOL PLUS
The funding negotiations with MOL PLUS appear to have coincided with Sendy’s aggressive cost-cutting over the last three months.
Source: techcabal.com