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Seun Osewa Finally Sells Nairaland - Business - Nairaland

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Seun Osewa Finally Sells Nairaland by FXKing2012(m): 1:01pm On Apr 01, 2013
The most popular and by far the most visited website in Nigeria, popularly known as Nairaland, has finally been sold to a U.S consortium known as Lirpa. An agreement was finally reached after several months of back and forth negotiations.

It is reported that the the deal is in the region of $1.2 million. Lirpa has released a statement on the new acquisition which also states that members of the website will henceforth be required to make a monthly subscription of 1,200 naira, quarterly subscription of 3,000 naira or yearly subscription of 10,000 naira (or its equivalent in any currency) as a means of raising revenue.

More details to be supplied as the details of the deal come to the fore.

Source: http://citypeople-seunosewa-sells-nairaland.html



















































Sorry...................April fo0l.

1 Like

Re: Seun Osewa Finally Sells Nairaland by Nobody: 1:07pm On Apr 01, 2013
FOOL
Re: Seun Osewa Finally Sells Nairaland by Queendo(f): 1:10pm On Apr 01, 2013
Fear be catch me. good April Fool
Re: Seun Osewa Finally Sells Nairaland by bukahands(m): 1:17pm On Apr 01, 2013
U got me
Re: Seun Osewa Finally Sells Nairaland by Zither(m): 1:41pm On Apr 01, 2013
[color=006600] hahaha[/color] grin
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 4:55pm On Apr 01, 2013
bukahands: U got me
Sorry
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 6:16am On Apr 02, 2013
kramer:

Nice try.. the U.S consortium bit gave you out
How?
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 3:49pm On Apr 02, 2013
^^^^ True but it's a different ball game with online companies. Geography plays a minimal role when the firm is virtual.
Re: Seun Osewa Finally Sells Nairaland by Nobody: 5:15pm On Apr 02, 2013
kramer:

You're more likely to hear of a nigerian firm acquiring another rather than a US firm acquiring a nigerian company. In fact, I don't think that has ever happened before .. please correct me if i'm wrong smiley
you are wrong
Re: Seun Osewa Finally Sells Nairaland by lamuade: 5:46pm On Apr 02, 2013
ufotuko: you are wrong
where's the correction
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 7:23pm On Apr 02, 2013
kramer:

Yes you're right, but the target market is still the same... What will a US company do with the attention of 16 to 40 year old Nigerians scattered across different continents?
[b]The key word on this kind of business is traffic. The age range of the users is an advantage when you consider the fact that the internet mostly appeals to people of that age range (think of facebook, twitter, linkedin, etc). And the fact that they are scattered around the world is an advantage because it gives the site much needed international appeal.

Being the most visited website in Nigeria and arguably in Africa, there are loads of ways that the site can generate enormous cash flow when in the hand of people with "mad" business acumen. From linking it to some very big fora in Africa or some other foreign countries to using it to propagate the ideologies of certain political parties or even promote or smear certain politicians or establishments. Certain political parties, individuals and companies will be willing to part with whopping sums for the services of such a site. Then think of revenue from ads, and when the apps is created.

An experienced business wizard can turn such a site with such solid brand into a money making machine.[/b]
Re: Seun Osewa Finally Sells Nairaland by kramer: 8:48pm On Apr 02, 2013
ufotuko: you are wrong

lamuade: where's the correction

Thank you oo my brother.. I may be wrong but please offer corrections
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 11:05pm On Apr 02, 2013
kramer:

You have spoken well... but most of what you've said would be useful to an African firm or Nigerian firm.. Personally i would rather acquire a popular US forum instead of Nairaland because I believe I would gain more from US political parties, US companies like Apple and Microsoft parting with heavy sums and US ads. What do you think?
Yes more ads revenue will be generated in the U.S and that's why I talked about linking NL to foreign fora. But as regards making money off politicians, I think that's more realizable in Nigeria given the fact that our politicians have all sorts of skeletons in their cupboards, plus the fact that Nigerian politicians are more hell-bent on running down their opponents.

Think of a foreign company trying to make entry into the Nigerian market, acquiring NL would be an extremely effective way of reaching out to milllions of Nigerian youths and by so doing gain access to the largest market in Africa.

I really think a foreign firm trying to make inroads into the largest market in Africa would be making a wise decision by acquiring NL. A firm or a website may also be acquired with the intention of reselling it with profit after a while.
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 6:21am On Apr 03, 2013
[b]^^^ Your first paragraph is on point; you are very right about Americans spending so so much on politics especially during elections with all those Super Pacs willing to spend tens of millions of dollars to promote a candidate or party.

As regards the language barrier in Africa, all an angel investor or venture capitalist needs do is launch a french version of the site. Since the site is already a powerful brand in the anglophone countries, people in the francophone countries should easily buy into it once a french version is made available.

As per internet access, yes Africa is still emerging but emerging fast.

Regarding your last paragraph, I believe many angel investors will be willing to buy such a site with the intention of taking it public or reselling to much larger websites. Very large websites/companies buy smaller ones all the time once there is any way the smaller one could help promote the bigger one. Google acquired youtube; Facebook acquired instagram; microsoft acquired skype, the list is endless. Remember Nairaland is the biggest website in Africa so it should appeal to much larger websites or companies as a means of expanding their presence in Africa.[/b]
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 10:56am On Apr 03, 2013
^^^ Buying those domain names may actually be a smart business move as I anticipate those versions of Nairaland popping up at some point in the future.

If Nairaland is the most visited Nigerian website in Nigeria, then I want to believe it's the most visited African website in Africa due to our mind-boggling population.

And regarding your last paragraph, yes we dont hear much of western firms acquiring African firms but I'm sure we'll get there someday not too far from now. Also, since geography is not an issue in this particular case, a western site acquiring a Nigerian site should be quite easy.
Re: Seun Osewa Finally Sells Nairaland by Nobody: 12:59pm On Apr 03, 2013
Hhmn. Front page pls.
Lmao
Re: Seun Osewa Finally Sells Nairaland by DeGenius3(m): 3:15pm On Apr 03, 2013
no worry bro ... u really catch me o.
Re: Seun Osewa Finally Sells Nairaland by FXKing2012(m): 7:35am On Apr 04, 2013
^^^I'm glad I caught you.

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