Kwik Delivery in Talks in 2022 to Acquire Gokada
Feb 8, 2023 ·
1m 21s
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
Gokada, one of Nigeria’s most prominent last-mile delivery companies, reportedly considered selling the business to a competitor, Kwik Logistics, in 2022. Ultimately, the deal did not go through and it...
show more
Gokada, one of Nigeria’s most prominent last-mile delivery companies, reportedly considered selling the business to a competitor, Kwik Logistics, in 2022.
Ultimately, the deal did not go through and it is unclear why those talks broke down. Gokada recently set its valuation at $10 million as it tried to raise $100,000 through crowdfunding.
Gokada recently laid off at least 20 employees in November 2022 before laying off 54 more people this week
Tosin Oni, Gokada’s CEO, said the layoffs were in response to harsh macroeconomic conditions. He said that as an unprofitable startup with negative cash flow, the priority for them at the moment is increasing efficiency.
show less
Ultimately, the deal did not go through and it is unclear why those talks broke down. Gokada recently set its valuation at $10 million as it tried to raise $100,000 through crowdfunding.
Gokada recently laid off at least 20 employees in November 2022 before laying off 54 more people this week
Tosin Oni, Gokada’s CEO, said the layoffs were in response to harsh macroeconomic conditions. He said that as an unprofitable startup with negative cash flow, the priority for them at the moment is increasing efficiency.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
Website | - |
Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company