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OLX Shuts Down Office In Nigeria by kokomaster3d: 9:05pm On Feb 06, 2018
Multinational media group and investor Naspers has allegedly shut down all OLX offices in Africa except the one in South Africa. Operations in Ghana, Nigeria and Kenya are going to be affected by this announcement.

OLX is a global classifieds platform, with physical presence in nearly 40 countries.

According to a report on Innovation Village, staff in these offices have been informed today and are expected to fully move out by the end of March 2018. The same report says OLX will still be present in these countries but will be run remotely and at press time, the Nigerian and Kenyan websites of OLX are still up and running.

Naspers are investors in MultiChoice — operators of the DStv and GOtv satellite televisions — and the recently acquired Konga.

https://techpoint.ng/2018/02/06/naspers-shuts-down-olx-ghana-nigeria-kenya/

1 Like 1 Share

Re: OLX Shuts Down Office In Nigeria by yanabasee(m): 9:30pm On Feb 06, 2018
The labour market suffers this fit!

25 Likes

Re: OLX Shuts Down Office In Nigeria by CollinsWeGlobe(m): 1:42am On Feb 07, 2018
Can we blame Buhari?

13 Likes

Re: OLX Shuts Down Office In Nigeria by 222Martins(m): 3:41am On Feb 07, 2018
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

417 Likes 48 Shares

Re: OLX Shuts Down Office In Nigeria by Pavore9: 5:46am On Feb 07, 2018
222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

You rightly captured it.

31 Likes

Re: OLX Shuts Down Office In Nigeria by 222Martins(m): 7:33am On Feb 07, 2018
CollinsWeGlobe:
Can we blame Buhari?
This is beyond Buhari. The business model was faulty from day one. Hype and Vanity metrics cannot sustain a business.

31 Likes 2 Shares

Re: OLX Shuts Down Office In Nigeria by Tolbanks(f): 7:50am On Feb 07, 2018
Eeeeeya, e pele ooo

4 Likes

Re: OLX Shuts Down Office In Nigeria by Nobody: 7:50am On Feb 07, 2018
Hmmmm... This isn't a good sign of a productive economy.




God help Nigeria..

4 Likes 1 Share

Re: OLX Shuts Down Office In Nigeria by LagBlogger(m): 7:50am On Feb 07, 2018
Like the FTC said rightly, its not about noise but profit. I learnt this too from one supermarket close to my house. They have big sales but low overhead costs. Unlike another store with big sales and high costs.

17 Likes 1 Share

Re: OLX Shuts Down Office In Nigeria by ggoldmine(f): 7:51am On Feb 07, 2018
deturla:


This just sums it up!

Being the biggest, receiving an award, spending money on ads all lead to raising millions of followers who will patronize their service or website... which will in turn increase profit via clicks on website ads. The problem is abuse by fraudsters and mismanagement.

9 Likes

Re: OLX Shuts Down Office In Nigeria by 12345baba(m): 7:51am On Feb 07, 2018
Booohaaari loves Nigeria
Re: OLX Shuts Down Office In Nigeria by deturla: 7:51am On Feb 07, 2018
222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

This just sums it up!

1 Like

Re: OLX Shuts Down Office In Nigeria by lafuria1(m): 7:51am On Feb 07, 2018
scammers have ruined it so much
Re: OLX Shuts Down Office In Nigeria by Sparkies85(m): 7:52am On Feb 07, 2018
When you're always laughing your ass out ..
There will b no more ass to show��

13 Likes

Re: OLX Shuts Down Office In Nigeria by Iphone5: 7:53am On Feb 07, 2018
Buhari why
Re: OLX Shuts Down Office In Nigeria by Nobody: 7:53am On Feb 07, 2018
Chai

4 Likes

Re: OLX Shuts Down Office In Nigeria by tensazangetsu20(m): 7:53am On Feb 07, 2018
222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.
Explain more about growing organically.

9 Likes

Re: OLX Shuts Down Office In Nigeria by muyexzy: 7:54am On Feb 07, 2018
222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

You Don said it all...
Re: OLX Shuts Down Office In Nigeria by phreakabit(m): 7:55am On Feb 07, 2018
CollinsWeGlobe:
Can we blame Buhari?

As the famous butt pirate will say....

2 Likes

Re: OLX Shuts Down Office In Nigeria by rxmusa(m): 7:55am On Feb 07, 2018
Like seriously?
Re: OLX Shuts Down Office In Nigeria by kagari: 7:56am On Feb 07, 2018
I saw this coming, it's not customer funded so it can never be sustainable on the long run

6 Likes

Re: OLX Shuts Down Office In Nigeria by just2endowed: 7:57am On Feb 07, 2018
Chai
Re: OLX Shuts Down Office In Nigeria by AishaBuhari: 7:58am On Feb 07, 2018
The height of ineptedness - Poor business environmental workability and profitability, hence I blame this present administration... Nigerians about to lose more jobs in 1st quarter.

1 Like

Re: OLX Shuts Down Office In Nigeria by BruncleZuma: 8:00am On Feb 07, 2018
They have refused to Pivot...that's the first rule of startups...if X ain't your thing pivot.

1 Like 1 Share

Re: OLX Shuts Down Office In Nigeria by CaptainMarvel(m): 8:00am On Feb 07, 2018
It's one thing to be "THE BRAND", it's another thing to "MAXIMIZE PROFIT" from the brand.
Facebook, for example have still not figured out how to maximally monetize whatsapp

11 Likes

Re: OLX Shuts Down Office In Nigeria by atesunate16(m): 8:01am On Feb 07, 2018
This is serious

1 Like 1 Share

Re: OLX Shuts Down Office In Nigeria by atesunate16(m): 8:02am On Feb 07, 2018
CaptainMarvel:
It's one thing to be "THE BRAND", it's another thing to "MAXIMIZE PROFIT" from the brand.
Facebook, for example have still not figured out how to maximally monetize whatsapp

I'm surprise too about whatsapp.

7 Likes

Re: OLX Shuts Down Office In Nigeria by CaptainMarvel(m): 8:02am On Feb 07, 2018
AishaBuhari:
The height of ineptedness - Poor business environmental workability and profitability, hence I blame this present administration...
They also shut down in Ghana, Kenya.. It's the present administration in Nigeria governing these countries as well

17 Likes

Re: OLX Shuts Down Office In Nigeria by AishaBuhari: 8:03am On Feb 07, 2018
CaptainMarvel:

They also shut down in Ghana, Kenya.. It's the present administration in Nigeria governing these countries as well
Forget Ghana, Talk Naija - Or Are We No More The Giant Of Africa?

Why the bad news every minute?
Are you not tired of successes and achievements makings rounds on paper which cannot be seen or felt physically?

4 Likes 1 Share

Re: OLX Shuts Down Office In Nigeria by tk4rd: 8:04am On Feb 07, 2018
Chaaii..
A friend of mine got a good job through OLX
Re: OLX Shuts Down Office In Nigeria by sisisioge: 8:05am On Feb 07, 2018
222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

Every business has it's own strategy. All these you summarized would have translated into the much needed profit if the outlined were well utilized. Besides, anything online that opens door to millions of individual sellers without absolute control of their conducts and wears ( eg Jumia) is bound to have a huge infiltration of fraudulent beings. That's what I think killed it. Their kind of website requires a high level of confidence and goodwill to thrive but it is absolutely lacking of these two essential elements. God's speed to them, I hope Jiji is learning. We don't wanna lose you too.

By the way, don't compare OLX and NL, they offer absolutely two different businesses. If all NL does too is strictly online commercials, Seun would have grayed out by now.

29 Likes 1 Share

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