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
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
Logistics start-up Sendy hit by funding drought, fires 20pc of workers
Logistics firm Sendy has shut down its retail and supplier trading platform known as Sendy Supply, and axed 20 percent of its workforce amid funding challenges.
Source: businessdailyafrica.com