MarketForce Shuts Down Operations in 3 African Markets, Launches New Spinout Chpter as Part of Pivot to Profitability
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MarketForce is shutting down operations in 3 African markets - Kenya, Nigeria, and Rwanda - and focusing only on Uganda.
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The company is launching a new social commerce spinout called Chpter.
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MarketForce faced funding issues last year when some VCs pulled out, forcing layoffs.
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The company is now pursuing profitability over growth by focusing on the profitable Uganda market.
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Chpter will help merchants convert social media conversations into sales.