Home Business Sky.Garden halts closure plan after getting new buyers

Sky.Garden halts closure plan after getting new buyers

by kenya-tribune

NAIROBI, Kenya, Nov 14 – E-commerce platform Sky.Garden will not exit the Kenyan market as earlier announced after getting new owners for the local unit.

The start-up co-founder and owner Martin Majlund said on his LinkedIn Page that the company’s management will be run by new buyers.

Sky.Garden management last month filed an insolvency in the Danish Holding Company Sky.Garden ApS on financial challenges.

“Last month management saw no other options than to file for insolvency in the Danish Holding Company Sky.Garden ApS,” Majlund said on his Linkedin page.

“Today, I’m happy to announce that we’ve found an acquirer for the IP and the Kenyan company. Sky.Garden will live on with new owners and new management.”

In an interview with TechCrunch, an American online news platform for start-up in September, Majlund said they were facing financial challenges but were looking for new investors as well as buyers.

Lately, start-ups have found it tough to source funds amid an economic impact caused by the Covid-19 pandemic.

“2022 has been a shitty year running a B2C tech company in East Africa but I’m pleased that we managed to secure the vision of Sky.Garden to live on whilst retaining jobs.”

Sky.Garden is an online marketplace, allowing third party sellers to sell electronic, merchandises, among others, on the online platform.

Advertisement. Scroll to continue reading.

“We impacted thousands of businesses and consumers in Kenya and groomed 100+ employees since inception,” he said.

“Some are already working for multinationals such as Microsoft, Google, Meta. And we did it coming from a PowerPoint without ever having set foot on the ground in Africa.”

You may also like