On Tuesday, Sendstack, a Nigerian logistics technology company, has undergone a series of strategic shifts in recent months, including the departure of its COO and Co-founder, Ifeoma Nwobu.
This change comes as the company aims to achieve ambitious revenue targets by expanding its operations and product offerings.
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Sendstack’s strategic shifts in operations
On October 26, 2024, Sendstack announced a major strategic pivot, discontinuing its last-mile delivery service, DLVR, to focus exclusively on CTRL, its logistics management software for corporate clients.
This decision was driven by DLVR’s underperformance and CTRL’s potential to address operational inefficiencies in traditional businesses.
According to Ifeoma Nwobu, Sendstack’s COO at the time, CTRL was an internal management tool offering features like delivery tracking, route optimisation, and operational analytics.
Sendstack’s new direction aligns with its vision of becoming Africa’s premier logistics infrastructure provider. The company targets markets with high economic activity and fragmented logistics sectors, aiming to extend CTRL’s reach beyond Nigeria’s borders.
However, this shift also poses challenges, as many businesses in these markets are accustomed to traditional methods and may be hesitant to adopt enterprise-level software.
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Sendstack’s ambitious revenue goals and challenges
Sendstack is projecting $1 million in revenue by the end of 2025, four times what it made from its now-defunct delivery platform, DLVR.
To achieve this milestone, the company plans to sell 10,000 GPS tracking devices by July, each costing ₦100,000. These devices integrate with Sendstack’s software and third-party systems, allowing businesses to adopt its fleet management solutions.
CEO Emeka Mba-Kalu believes that introducing hardware will make the company’s offerings more intuitive for Nigerian users, similar to how fintech companies have successfully distributed POS devices.
“Like POS terminals for payments, hardware trackers are more intuitive for Nigerian users, and businesses are more receptive to the idea of investing in trackers for their vehicles,” Mba-Kalu noted.
However, this strategy also comes with challenges, including managing inventory and ensuring reliable production and distribution across multiple states.
Ifeoma Nwobu significantly shaped the company’s public image and oversaw operations and sales. She represented Sendstack at pitch events, notably a viral 2023 presentation at a Norrsken demo day.
Sendstack has raised $350,000 from Norrsken, ODX, and a few angel investors. Nwobu’s exit marks a new chapter for the company as it pursues strategic changes and ambitious revenue goals. The company must balance its growth plans with the need to adapt to a market where businesses are often hesitant to adopt new technologies
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