₦airaland Forum

Konquest:
Since women have been found to be good
corporate managers, I think he took that
decision of using women to head specific
projects. I noticed a significant number
of top corporate Yoruba women heading
those subsidiaries.


All the best!

Got ya!

One rule of business; Never get comfortable. Always strive to grow.

Online real estate startup ToLet acquires Jumia House Nigeria to create PropertyPro.Ng

[img]https://tctechcrunch2011.files./2017/11/propertypro-interaction1.jpg?w=738[/img]

https://techcrunch.com/2017/11/10/online-real-estate-startup-tolet-acquires-jumia-house-nigeria-to-create-propertypro-ng/


African tech can produce surprises. One this week is a $1.2 million Series A startup buying part of a $1 billion company.


That’s what Lagos based property startup ToLet.com.ng has done, purchasing Jumia House Nigeria for an undisclosed amount. Jumia House is a subsidiary of the continent’s lone tech unicorn — Pan-African e-commerce giant Jumia.com.

ToLet and Jumia House Nigeria will merge platforms under the new name of PropertyPro.ng.

The acquisition was a result of ToLet’s strength in market and help from their lead investor, Malaysia based Frontier Digital Ventures, according to CEO and Co-Founder Fikayo Ogundipe.


“This came about from FDV―which has a strong real-estate classified portfolio across Africa―looking at which markets they were strong and where Rocket [Jumia’s lead investor] was weaker,” he told TechCrunch. “In Nigeria Jumia House was number three or number four in online listings. It didn’t make sense for Rocket to burn more capital in that position, so [FDV] approached them on the acquisition.

So how did ToLet finance the purchase? Without additional financing from lead investor FDV, according to Co-Founder Sulaiman Balogun. “The $1.2 million in funding we announced last year is the only round we’ve disclosed. We’ve raised enough capital to run through this deal and really fund the business and grow,” he said.

With the acquisition, ToLet is acquiring the entire Jumia House platform — staff, assets, and their listings and agent network. The new PropertyPro entity will combine ToLet’s 60,000 listings to Jumia House’s 22,000 to create the largest online real estate listings platform in Nigeria with 65 percent of the market, according to Balogun.

ToLet would not divulge annual revenue stats, but execs explained it makes money from agent subscription fees. ToLet’s legacy platform had 10,000 agents, of which 20 percent were charged.

“We have a long-term plan to charge a higher percentage on our the premium plan,” said ToLet CEO Ogundipe―noting agents receive more options under that plan.

ToLet’s new PropertyPro platform will not charge fees or commissions on listing sales, something some of its competitors do, according to Balogun. “We did that on our previous model, but stopped. That increased the number of agents on our platform and generated more revenue overall,” he said. ToLet’s current online listings are about 70 percent rentals and 30 percent sales.

Co-CEOs Balogun and Ogundipe said to expect updates on the integrated PorpertyPro platform. They have engineers developing new ease of search features for the site and plan to launch an android app in coming weeks.

A prime aim of the acquisition and new PropertyPro platform is to expand ToLet’s agent and listings reach across Nigeria and increase the number of sales listings, Balogun told TechCrunch.

As a market, Nigeria boasts the dual distinction of being Africa’s most populous nation and largest economy, valued at roughly half a trillion dollars. A small real-estate sector (circa 8 percent of the overall economy) and a high urbanization rate have created a housing deficit in the country. Furthermore, a nascent credit rating market in the Nigeria has fueled practices whereby landlords can require advance deposit of up to two years rent from tenants.

ToLet hopes its recent acquisition and upgraded PropertyPro platform can ease that.

“We believe creating more visibility of real estate listings and ease of connecting buyers and sellers online can solve some of these liquidity problems and bridge this gap between supply and demand,” said Co-Founder Sulaiman Balogun.

In just 3 years, Andela is taking over Nigeria, if not Africa.

Yoruba people and their crystal clear vision.

http://techcabal.com/2017/10/10/andela-raises-40m/

BREAKING: Andela Raises $40m From CRE VC, DBL, Salesforce, TLcom, Others In Series C Round

LAGOS, October 10, 2017 — Andela, the company that builds high-performing engineering teams with Africa’s most talented software developers, today announced that the company has secured $40M in Series C funding. The investment was led by pan-African venture firm CRE Venture Capital with participation from DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital. Existing investors including Chan Zuckerberg Initiative, GV, and Spark Capital also participated. The round, which marks one of the largest investments ever led by an African venture firm into an Africa-based company, brings Andela’s total venture funding to just over $80M.

Andela was launched in 2014 to combat the global technical talent shortage by investing in Africa’s most talented software developers. With an estimated 1.3M software jobs unfilled in 2016 in the U.S. alone, it’s clear that the growth of today’s major technology ecosystems is inhibited by a severe lack of talent. To solve this, Andela invests in high potential pools of brainpower across the African continent to help more than 100 partner companies build distributed engineering teams. These partners range from industry leaders like Viacom and Mastercard Labs to high-growth technology companies such as Gusto and GitHub.

With offices in Lagos, Nigeria, Nairobi, Kenya, and Kampala, Uganda, Andela has hired 500 developers to date — the top 0.7% of more than 70,000 applicants from across the continent. Selected developers spend six months in a rigorous onboarding program before being matched with one of Andela’s partner companies as full-time engineering team members. Beyond recruiting elite development talent, Andela is catalyzing the growth of tech ecosystems across the continent by open-sourcing its content and partnering with organizations including Google, Pluralsight and Udacity to provide resources and mentorship to developers.

“Andela is investing in our continent’s future technology leaders, who are already playing a much-needed role in solving both African and global problems,” says Seni Sulyman, Country Director of Andela Nigeria. “With each new partnership, we are simultaneously proving to the global tech industry that brilliance is evenly distributed irrespective of gender, culture or nationality. As we unleash an entire generation of technologists, we will secure Africa’s role as an equal partner working alongside the rest of the world to advance human potential.”

Pule Taukobong, Founding Partner of CRE Venture Capital, adds: “At present, there is more capital to fund ideas globally than there are people to build them. Andela is providing a solution to this global talent dilemma while building a business case for one of Africa’s greatest assets: our people.”

Andela will use the capital to fuel its aggressive expansion plans: The company aims to launch offices in two additional African countries over the next year, doubling its developer base from 500 to 1,000. Alongside this round, Pule Taukobong of CRE, Julia Gillard, former Australian Prime Minister and Amplo Board Partner, and Omobola Johnson, Senior Partner at TLcom and former Minister of Communication Technology in Nigeria, will be joining Andela’s board.


https://techcabal.com/wp-content/uploads/2017/10/Seni-Sulyman-of-Andela-with-Pule-Taukobong-and-and-Pardon-Makumbe-of-CRE-with-Andela-team-members-1-e1507635419506.jpeg

Obino, come and tell us how Anambra built Lagos with gala and auto spare part trading

ProWalker:
Isi agu is only sacred in igbo land and among ibos.

Where i come from, it's the choice material for poor people for their home upholstery.

Lmaoooo

I hate nigeria. This idea would have died in Nigeria.

Europe is just draining Yoruba brain.... most successful Yorubas in tech are not located in Nigeria.

Foolish country that’s so obsessed with pageants and fashion shows which yields no future investment to the country’s economical development.

We have leaders who are so dumb. Leaders who don’t understand that the new oil is tech. Leaders who create environments that kills off tech ideas. Leaders who think tech is yahoo yahoo.

The world is discussing AI, big data, machine learning, data science etc. Nigeria doesn’t even have 24-hr light yet....damn.

Useless country. Damn.

President Buhari conferred with the title of Ochioha NdiIgbo 1 by South East traditional council of rulers led by Eze Eberechi Dick during his visit to Ebonyi State on 14th Nov 2017 Others include former Secretary to the Government of the Federation, Anyim Pius Anyim former governor Sam Egwu among others.

He was received by jubilant crowd with different traditional dances

Read more at: https://www.vanguardngr.com/2017/11/breaking-buhari-arrives-ebonyi-board-naf-540/


www.nairaland.com/attachments/6255300_eboyinbuhari1_jpeg14ec1d372e4d239549dc294f0dc0b2a2

I told my people to wake up a year ago lol.
I love that the unconscious Yorubaman is waking up tho.


Not all battles are won with words and axe......most are won systematically, politically and economically.
Calling Lagos no man's land is akin to waging a war. The useless Oba will be the first we sacrifice to Yejoha.

EponOjuku:
On the contrary, I don't want Igbos to stop calling Lagos no-man's Land and I'll state my reasons.

Yorubas welcomed Igbos with an open hand and returned their abandoned properties after the war. Meanwhile, Igboid groups in present-day Rivers and Bayelsa states refused to return confiscated Igbo properties.

Nigerians from all ethnicities come to Lagos, live, trade, work, build and retire here. However, Igbos ignored the landowners and contributions of everyone and are selfishly but are foolishly claiming they developed Lagos.

The problem some Igbos have is that they have short memories. They've forgotten that as at when the Portuguese landed in Lagos, they had not yet finished trekking from Isreal or wherever they were downloaded from.

Yoruba are very welcoming and accommodating but won't tolerate nonsense. When these Igbos started this noise, we warned the liberal Yorubas but they said we were paranoid. Now, a lot of Yorubas are seeing the hate and bitterness that Igbos wish upon us and are now waking up.

During the last LG elections, all LG seats in Festac, Ojo Alaba, Amuwo and other areas with large Igbo population were collected and are firmly in the hand of Yorubas. In 2019, we're collecting our seats from those Igbos representatives and HOA members.

The environmental sanitation is presently political. When we're through with that, we move to other areas. By the time we ban gala and Fan yogo hawking in Lagos and the economy of a whole Igbo state crumbles cos of that, maybe you'll have sense.

Let Igbos keep calling Lagos No man's land, it serves to wake up the consciousness of liberal Yorubas. Mind you, the quiet Yoruba man is the most dangerous. The revolution would not be televised.

The day Nigeria will win anything notable is the day we stop inviting Chison, Chiwedu, Ugo etc to represent Nigeria.

Why do Ibos think building multiple story buildings is a sign of developement?

1. No business investments in Iboland

2. No tech innovation or incubator - no Innoson is not a tech innovation


The houses you build will in a few years time look like the brown roofs of Enugu.


https://i.pinimg.com/564x/67/a1/41/67a14164d356e132a25bddd5eac1a763.jpg

Enugu billionaires


https://i.pinimg.com/564x/80/4a/a4/804aa47bdd1e71b810b36dc6b6d8dc36.jpg

https://i.pinimg.com/564x/6e/41/49/6e414966a449f087af7f3fcefd010e40.jpg

https://i.pinimg.com/564x/0c/a4/5f/0ca45fab54baa42b2bc5ad0073919f7e.jpg

shallysgirl:
Headslammer, must you show love and care for Kanu, just to divert attention from the topic.
Go and rot in jail with your Headslamming master.

Answer the question, handkerchief dancer.

This is where a billionaire resides in ENugu

https://s-media-cache-ak0.pinimg.com/originals/21/1b/4a/211b4aea55e78b9595d538da32c02557.jpg

Igboland

https://i1.wp.com/www.hangingwithmay.com/wp-content/uploads/2017/05/screenshot_2017-05-30-11-41-51.png

Unnecessary thread.

I'd like to claim a piece of Iboland as retaliation, but non of it is developed.

stanluiz:
Wetin concern Kanu with this topic..

Kanu is as much of a coward as the Fulanis who attack and run.

Willie Is Working! You Need To See How The State Road That Leads To Nnamdi Azikiwe University Awka Looks Like [Must See Photos]

https://i0.wp.com/www.owelafrik.com/wp-content/uploads/2017/05/ifite-road2-1.jpg?w=678

https://i2.wp.com/www.owelafrik.com/wp-content/uploads/2017/05/ifite4.jpg?w=480

https://i1.wp.com/www.owelafrik.com/wp-content/uploads/2017/05/ifite-road.jpg?w=480

Ibos are funny people. They falsely claim to develop Lagos, a Yorubaland, while Iboland is in a state of underdevelopment.

Isokowadoo:
He will Surely Go to jail

Lemme Tell u, Fulani are Cowards.

Dey Attack u from d Bck, They Can't Face an organized local Militia Equally Armed, Ask dem abt d Mambila Experience.

Is Kanu a coward? He ran from battle.

Are they Nigerians, if not, Nigeria needs to work with their countries of origin to curtail their migration in non-Fulani lands.

He’s amongst the dullards claiming to have developed Lagos.

Billionaire Okada rider