Gloo.ng has fully evolved and it is now called Gloopro. The company has left ecommerce for B2B e-procurement services. It will supply large and medium scale companies with everything from laptops to pencils, and in the process earn monthly fee and a percentage on goods delivered. Gloopro is a pivoting vision as it is simply adding a technology layer to solve a problem which already exists in markets: procurement.
Across many Nigerian business sectors, from banking to insurance, there are vendors supplying items to their business clients. Gloopro has joined that except that it has structured its services as a digital platform. With great visibility for its clients, to monitor inventory pipelines, there is a latent opportunity here to differentiate in the sector.
In addition to Unilever, Gloopro clients include Uber Nigeria, Cars45 and industrial equipment company LaFarge. Cars45 CEO Etop Ikpe and a spokesperson for Uber Nigeria confirmed their client status to TechCrunch.
Olusanya believes the company can compete with other global e-procurement providers, such as SAP Ariba and GT-Nexus, by “leveraging our sourcing and last-mile delivery experience in Nigeria” and expertise working around local requirements in Africa.
Gloopro expects to hit $4 million in revenue by the end of the year and the company could reach $100 million over the course of its international expansion into countries like South Africa, Kenya, Morocco, Egypt and the Ivory Coast, according to Olusanya. A seed investor briefed on Gloo.ng’s estimates confirmed the company’s revenue expectations with TechCrunch.
There is a promise here as the old marginal cost paralysis in its ecommerce business has gone. Now, it can build a business and scale, knowing clearly that it is not a digital business, but a business that uses digital tools to improve its operations.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
---
Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.