Nigeria’s 17 Most Valuable Internet Companies/Startups (Valuation, Web/Social )

Internet startups and companies are getting more prominent attention in the media space as some of them begin to command investment and revenues in millions of d ollars. It’s no longer child’s play; the internet startup craze is here to stay.

While there remain numerous small fishes, barely making revenue and unsure of being in operation month to month, a few startups are already showing the way and getting valued at encouraging prices.

So we took a long, deep look at the very best of Nigeria’s most valuable startups taking into consideration estimated valuations as at their last fundraise, rough estimate of revenue and market value and social media/web influence. This list is by no means ordered by biggest or smallest

Jumia

Jumia is one of the two biggest, generalist ecommerce startups operating in Nigeria. Originally the brain-child of the famed Rocket Internet operation Jumia which now appears to be part of Africa Internet Group a leading global startup incubator with special focus on ecommerce.

Konga

Konga is the other big ecommerce company in the country. Founded by Sim Shagaya a tested entrepreneur in 2012 Konga has grown to become the major competitor with Jumia in the ecommerce space. Both have raised tens of millions of dollars to help their various push to capture the ecommerce market.

Iroko Partners (IrokoTV)

IrokoTV, founded by Jason Njoku and Bastian Gotter is the poster boy of Nigeria’s tech startup ecosystem. Iroko Partners the parent company owns IrokoTV, a platform for video on demand (VOD) content from Nigeria’s Nollywood industry and more recently even from Bollywood,

Hollywood

and other movie/film production environment. IrokoTV is currently valued at around $50 million after having raised millions of dollars from Tiger Global Investment and a few other investors.

Kuluya

Kuluya is a game development company funded by SPark, the local seed investment firm founded by Jason Njoku, Bastian Gotter and Jason’s wife Remmy. As at its last funding Kuluya was valued at $2 million. Kuluya gas developed over 100 game titles with titles like ‘Oga at the Top’ tapping into social and online memes at the time.

Jobberman

Jobberman, one of the top jobs websites in Nigeria was started by the trio; Opeyemi Awoyemi, Ayodeji Adewunmi and Olalekan Olude in 2009 during the famed ASUU strike. After getting funds from a local angel investor Jobberman got a $1 million series A investment led by Tiger Global Management. It has since become part of the One Africa Media group which also comprise of Cheki (car listing site) and Brighter Monday (a job site in Kenya). Jobberman is worth at least a few million dollars.

Dealdey

Dealdey is an online shopping and daily deals site that connects users to various ongoing deals from sellers. The Deal site was Sim Shagaya’s previous startup before he moved on to find Konga. Dealdey is understood to have raised substantial amounts of money but it is not clear how much and on what valuation.

PrivateProperty

Privateproperty is a property listing website that boasts of listing over 20,000 properties for sale and rent.

Paga

Paga is a payment solution provider that primarily enables people make payments and transfer money via their mobile phones. It also recently introduced its own merchant online payment processor to enable people make payments and receive money online.

ToLet

Tolet is another of the major players in the online property rental and sale listing sector. It is backed by Spark.

EasyTaxi

Easytaxi is a cab/taxi booking app that is backed by Rocket Internet. It’s taxi hailing service is also available in about 27 other countries.

Ngcareers

Ngcareers is one of Nigeria’s top jobs sites. It prides itself as a job and careerplatform and provides aside job opportunity information, insights and career information to enable users make better career choices. Ngcareers has attained its position in Nigeria’s job and recruitment industry via bootstrapping and self funding by the co-founders.

Drinks.ng

Drinks is Nigeria’s number one drink store helping people book and get drinks of all types delivered to their location of choice. Drinks.ng is one of the several startups backed by Spark.

Hotelsng

Hotelsng is Spark’s leading startup. It drags the online hotel booking space with Jovago and seems to be holding its own. Hotelsng was founded by Mark Essien and has witnessed impressive growth. It boasts over 6,000 hotels bookable on its portal.

Oya.com.ng

Oya is a bus ticketing app and website. Users can book tickets to and from various locations in Nigeria online. Oya was recently bought by Wakanow, a major travel agency in Nigeria. Oya was backed by Chika Nwobi’s L5Labs.

WhoGoHost

WhoGoHost is a leading web hosting and domain registration company in Nigeria. It says it has over 7000 domain names hosted on its servers.

Gloong

Gloo.ng is another upcoming ecommerce player majorly regarded as an online supermarket. It’s primary focus is on groceries. Unconfirmed reports we have show that Gloo.ng is most probably the third biggest ecommerce site in terms of sales volume behind Konga and Jumia.

Simplepay

 

There are quite a few online payment processing startups but Simplepay may be edging ahead of recent with its focus on partnership as a way to make more merchants and service providers receive payments for their products and service more easily. Simplepay is backed with funding fro Seedstars.

 

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