That money is too small

Omoawoke:

Before I opened the thread, I was so sure it would be a Yoruba person.
Yorubas are one of the most successful people from the entire Africa.
Go outside the country, they are doing exceptionally well in tech and medical fields.. go to Texas, maryland, Canada, Scotland, Australia, New York etc

But they don’t make noise, unlike our noisy neighbors that beat chest any small thing. They will drum their chest like King Kong and scream of the little they have. It is true them sabi spare parts, import and exportation. That’s their calling doesn’t mean that’s the only calling in the world
Some people sabi farming and cattle, some na gold dey sabi sell.
Yorubas are so good in tech and medicine, entertainment, education and finance and are doing super well.
And it is on one of this forum owned by a Yoruba man some people will say Yorubas are lazy (jealousy wan kill them)

An example is this retarrdd below

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Hushpuppi on my mind...Please remind me of his tribe again

That $71k go big for em eye, but him go come regret am two years down the line when the new owner go use creativity transform the app.

theophorus:
Congratulations Seun.

Time to move to the next big thing. But you could have negotiate holding a part rather than letting everything go but still on still Congratulations.

That was my first impression o.
Even if na 1 (one)% stake (just one) he'll be surprised what it will turn over in a few years.
Well.......

But u and I are still on it.
Nairaland is underated.

U know how many fora that have sprung up (just in a bid to copy Nairaland) that have gone under?

Yes, it needs a touch here and there but brah, it's not a pushover.

OboOlora:
Good move!
If u can’t sustain it, sell it off!
5eun should swallow his pride and sell off Nairaland, it has become a shadow of itself lately
He can use the $10k to build a big house in Sango and be competing with his mates like Portable
#LocalChampionSHiiiiiiiiii

Reminds me of Ronald Wayne that sold his apple share toWoznisl and Steve Jos for $800. Now that his 10% stake is worth $59B

UNDFTD:


Why would he sell such a tech company for a mere $71,000? I know he probably thinks that that is a lot of money in Nigeria as things stand now but I believe he sold it for cheap and the Indian company that bought it knows it too. Deals like that in the US go for millions of $$. Now, watch, in the next couple of years the same company would be valued in the millions and the current owner would be smiling to the bank. He should have gotten a good attorney that deals with business valuations and negotiations to get a better deal for him.

It's not even really about d money bro, but the stakes. Even if he had sold it for $1m and d thing appreciates to billions of dollars in a few years, it's still an 'L' for him.

I would have rather appreciated if he had sold it for say $20k with a 15% stake.

Maybe the blogger nor give us d full gist sha, bcus.......

richie240:
But u and I are still on it.
Nairaland is underated.

U know how many fora that have sprung up (just in a bid to copy Nairaland) that have gone under?

Yes, it needs a touch here and there but brah, it's not a pushover.

You are right Richie
But there are more tribal bigots than intellects now.

ijustdey:
Nigerian Entrepreneur Sells Off Students Networking App, GoCampus, To Indian Tech Guru
https://leadership.ng/nigerian-entrepreneur-sells-off-students-networking-app-gocampus-to-indian-tech-guru/

$71K? Or is that a typo?!
>

TheFreshVanilla:
That is 53 million naira. You can stay on Nairaland 24/7 lamenting how bad Nigeria is or take control of your life. Nothing stops you from replicating this small win but your small mind can't see it but can tell you to blame an uncle or rich sister who's not help your life. Of course, some ediotss who have never handled $5k will call the boy a fool.

POVERTY MENTALITY…smh
Dude, your point only makes sense if your aspiration is to be king of the Ghetto.

If you’re sitting on a multi-million dollar asset…
The fact that you get a couple of thousand more than hood Agberos is NOT a win.
>

OboOlora:
Good move!
If u can’t sustain it, sell it off!
5eun should swallow his pride and sell off Nairaland, it has become a shadow of itself lately
He can use the $10k to build a big house in Sango and be competing with his mates like Portable
#LocalChampionSHiiiiiiiiii

NL MONTHLY income is N5m. Do you know how much Seun charges for adverts on FP alone?

bizhop01:
That money is too small

Nigerian VCs and others in the VC sector focus on funding FinTechs and now AI techs while relegating brilliant portfolios to the background.

They ignore EdTech and others. Most Nigerian and African Edtechs have gone underground or have to pivot to keep afloat.

The only other one getting some recognition is EnergyTech which some merge with agrotech by pulling heart strings of foreign VCs with keywords like "clean energy", " zero emission ", " climate" blah blah, even if it's untrue.

Na wa oo

Multi-million dollar asset like?

9jaRealist:


POVERTY MENTALITY…smh
Dude, your point only makes sense if your aspiration is to be king of the Ghetto.

If you’re sitting on a multi-million dollar asset…
The fact that you get a couple of thousand more than hood Agberos is NOT a win.
>

richie240:

It's not even really about d money bro, but the stakes. Even if he had sold it for $1m and d thing appreciates to billions of dollars in a few years, it's still an 'L' for him.

I would have rather appreciated if he had sold it for say $20k with a 15% stake.

Maybe the blogger nor give us d full gist sha, bcus.......

You're absolutely correct. You do NOT dispose of your right to such a tech business venture without retaining a stake in the going concern at the very least a 5% to 10% stake would suffice.

Muili seun osewa....if you know you know

DAVIDMOE:
Good news but I think 71k usd is too small for an app that already has 370,000 users.

370k users in a 3rd world country and no clear path to monetization . . . Could have pushed for a 120k I think but no necessarily a poor deal . . . He could use the money to gain a bit of stability.

But my guts tell me this is an image laundering PR job for a Yahoo Boy.

We need business education alongside tech education

Why will you sell 300k users for 70k? Hunger is bad

Just watch, they grow it and sell it for millions of dollars

If you generate a single dollar per user on average that’s more than 70k

This boy go cry for this big mistake later

Money smuggler

Judolisco:
Make seun no sell nairaland oh... Dis one wey we Don dey see plenty Google ad for front page

I dey tell u. Seun knuckle head

OboOlora:
Good move!
If u can’t sustain it, sell it off!
5eun should swallow his pride and sell off Nairaland, it has become a shadow of itself lately
He can use the $10k to build a big house in Sango and be competing with his mates like Portable
#LocalChampionSHiiiiiiiiii

it is like you have no idea how much nairaland is worth seun turn down a million dollar years back now you are saying 10k

OboOlora:
Good move!
If u can’t sustain it, sell it off!
5eun should swallow his pride and sell off Nairaland, it has become a shadow of itself lately
He can use the $10k to build a big house in Sango and be competing with his mates like Portable
#LocalChampionSHiiiiiiiiii

Lol Wereeey

Seun Na Big Tech Guru Guy.

Nairaland Is worth Millions of Dollars.