An internet or web based business is a business whose major way of carrying out her activities is internet. These activities include, but not limited to, acquiring customers, advertising, providing customer support, displaying products and services, etc.
As you look at the Nigeria web evolution, you find many businesses leveraging the internet to create jobs, grow a brand and generate profit for players. Today, I review these web based businesses in Nigeria.
This is my personal research and compilation. They are not in any order. My purpose is to show the aspiring web business person that there’s still so much room to explore.
If you feel some other businesses were missing here, please add them in the comment or forum section. I hope you understand…
Unless you are living in the moon, you have heard about these guys. They are heavy spenders on internet advertising and it seems to be working out for them. Founded by two young under 35 guys, one Nigerian (Tunde Kehinde) and one Ghananian (Raphael Afaedor), the company now has more than 200 staff and is currently active in Nigeria, Egypt, Kenya and Morocco.
They have received as much as $26 million dollars as funding from Summit Partners, a $15 billion equity firm that invests in rapidly growing companies. I also heard that JP Morgan Asset Management invested in the company, but they are not giving the figures.
I honestly believe that this company is going places. Watch out for them.
Two is better than one, says the holy book. These two guys owned their shopping sites differently but eventually decided to come together to start the Jumia brand.
Do you have an idea? Are you struggling with competition? Maybe a merger will assist.
Vision is the key factor to attracting success. I believe that there were other ecommerce shopping sites in Nigeria before these guys came on board. What made the difference then? The short answer is vision. You must have a vision of where your company is heading to otherwise you will not get anywhere.
Konga is struggling with Jumia on the e- shopping market in Nigeria. I don’t know who to say is the leader, but if you use alexa traffic analysis, you’ll give it to Jumia. Founded by Nigerian-born Sim Shagaya, the Nigerian online shopping mall launched July 2012 with 7 workers, currently has 130 staff.
I think we should watch this web based business
The founder of Konga himself was asked sometime ago “What are the top reasons why you have been successful in business?” He responded: “Risk taking, hard work, willingness to do the mundane things and good luck.”
You will never succeed in a business you are afraid to start and promote.
I don’t know how successful this online business brand has been but it seems to be there, despite the fact that the business model is somehow unpopular in this part of the world. Founded by the same man who founded KONGA, it is a deals website, a clone of GROUPON, basically offering shoppers discount from their regular merchant stores.
For the fact that they are first, and, in fact, the only players in this kind of business model, I think we should watch out for these guys.
If you see a successful business model elsewhere, you can clone it and launch it in another locality. But you’ve got to have the drive, the staying power, and the hard work to make it speak at the long run.
Jobberman.com was set up to bridge the gap between opportunity and talent, creating a marketplace where job seekers and employers in Nigeria can find one another quickly, easily, and cost-effectively.
Primarily, Jobberman.com sources jobs directly from companies and recruiting agencies and broadcasts them via the website, blog, email, partner websites and social networks. Job seekers search and apply for jobs by either visiting the website directly or through partner portals.
Jobberman.com has offices in Lagos, Abuja and Ghana.
This web business is very popular and I have heard unconfirmed reports that they received some heavy funds too. But I’m just wondering how they make their money. Ok, I can see that there is now a premium subscription where job seekers pay some money to get premium access and search tools
The problem is that if this is the only way they are going to make money, it might pose some challenges. First, job seekers, especially in Nigeria, frown at been asked to pay money to get job services.
I believe these guys are looking out for other ways to monetize their site. Having read about the founders I am certain they are thinking as fast s the internet. So I’d say watch out for JOBBERMAN
Team work makes the idea work. To have a successful business you must develop team work
Founded in 2008 by Obinna Ekezie the wakanow team are very serious with their mission which is to: significantly change the way travel reservations are made in Nigeria and eventually, Africa. Their aggressive marketing system helps them stay ahead of the doubly competitive travel industry.
No doubt this web based reservation business has made their mark in the online business world in Nigeria. Its ok to say that they’ve got to be watched as well
Just read the interview Mr Obinna Ekezie granted here and you will not ask me for lessons.
VConnect is a local search engine and an information service provider company located at Surulere, Lagos, Nigeria. VConnect Global Services Ltd., founded in 2010, provides information about various products, services and companies in Nigeria.
I don’t really know if I should say they have an inspiring story or not. Why? These guys are well capitalized. Imagine, they claim to have spent over N155 Million (about $1 Million) to setup their data system. Now, not many of us small business guys can afford that.
Founded by my good friend, Akin Alabi, nairabet is a leader in the sports betting industry in Nigeria and Africa. Leveraging on the power of the first to start something concept and the fact that nairabet is one of Akin Alabi’s best pet projects, I know that this business is going somewhere.
Akin Alabi started as an Internet Marketer, but you can see, how far he has gone. He is no longer struggling to sell some ebooks. Internet marketers are poor because they do not consolidate their ebooks selling with a better business model as time goes on. Learn my friends.
Go to Google and type the word, “liberty reserve exchangers Nigeria.” You will see a ton of results. Every person is selling and buying Liberty Reserve in Nigeria, including me, the writer. But what keeps these guys ahead is the way they strategically organized their modus operandi.
They took some time to create their web portal and partnered with banks so that you feel they are actually taking this business seriously. I am expecting that they will explore other products like MasterCard, etc.
Even in a crowd, you can still be noticed. Do something different from the way others are doing it.
These guys are taking their business seriously and so we should watch out for them. In fact, they are my biggest enemies, sorry, competitor, when it comes to web hosting in Nigeria. Ok, I wont promote them much here, because we are in the same kind of business. But I truly appreciate their tenacity of purpose and see that they have a great way to go with web business in this continent
If you don’t know this one, you need to be flogged. Lol.
Well, TVCHOST is my new web hosting startup. We also offer web design and VPS hosting services too. Actually we are not making money at the moment, but I am hoping we can build a great business out of that. Don’t shoot me pls.
If you think I have omitted a web based business that is on the path to changing the landscape of internet business in Nigeria, please use the comment section or the forum to tell us about it.