#53: Konga - How the Ecommerce platform initially grew and eventually reset across Nigeria
Afrobility: Africa Tech and BusinessJuly 08, 2022
53
02:01:50223.11 MB

#53: Konga - How the Ecommerce platform initially grew and eventually reset across Nigeria

Overview: Today, we discuss Konga, the Nigerian e-commerce company. We’ll explore the Konga story across 5 areas:

  1. We'll give some context about the Nigerian e-commerce sector
  2. Konga's early history
  3. Product & Monetization strategy
  4. Konga sale
  5. Overall outlook

This episode was recorded on July 3, 2022


Companies discussed: Konga, Jumia, Naspers, Kinnevik, Jiji, OLX, Amazon, Takealot, Yudala & Zinox


Business concepts discussed: Ecommerce, marketplaces, classifieds, fundraising strategy, Blitzscaling risks, market readiness & Africa expansion


Conversation highlights:

  • (01:13) - Konga background and why we’re talking about it
  • (09:19) - Nigeria background and context
  • (14:00) - Nigeria commerce  context c. 2012
  • (17:00) - Background on Sim Shagaya
  • (29:02) - Konga launch strategy and fundraising
  • (45:55) - Konga monetization
  • (50:51) - Competition with Jumia
  • (1:04:35) - Konga’s business lines
  • (1:08:10) - Konga’s declining fortunes and sale to Zinox
  • (1:27:00) - Lessons for startups from Konga
  • (1:39:28) - Bankole’s overall thoughts and outlook
  • (1:53:57) - Olumide’s overall thoughts and outlook
  • (1:57:34) - Recommendations and small wins


Olumide’s recommendations & small wins:


Bankole’s recommendations & small wins:


Listeners, Operators & Investors: Email info@afrobility.com, we’d love to partner or get your feedback.

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