- Sendo, a Vietnamese ecommerce pioneer, has pivoted to online grocery amidst intense competition.
- The company launched Sendo Farm, which has seen rapid growth without marketing spend.
- Sendo aims for profitability by year’s end and plans a local IPO within 5-7 years.
Sendo’s ecommerce odyssey
Sendo, a Vietnamese ecommerce pioneer, has pivoted to the online grocery segment amidst intense competition.
Despite raising over $130 million, Sendo struggled to maintain its leading position, prompting a unique and defensible pathway to profitability.
Sowing the seeds of success in online grocery
Sendo launched Sendo Farm, tapping into the untapped potential of the online grocery market. The platform has experienced rapid growth, handling 50 tonnes of goods and serving 10,000 customers daily, without spending on marketing.
Sendo Farm adopts a first-party model, managing complex processes for cold-chain logistics and inventory management.
Although not yet profitable, Sendo expects its marketplace business to be in the black by year’s end and plans to pursue a local IPO within five to seven years.
To read the original article: https://www.techinasia.com/vietnam-ecommerce-platform-sendo-shoots-profits-online-grocery-stiff-competition
