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/

The labour market suffers this fit!

Can we blame Buhari?

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.

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.

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.

Eeeeeya, e pele ooo

Hmmmm... This isn't a good sign of a productive economy.




God help Nigeria..

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.

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.

Booohaaari loves Nigeria

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!

scammers have ruined it so much

When you're always laughing your ass out ..
There will b no more ass to show��

Buhari why

Chai

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.

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...

CollinsWeGlobe:
Can we blame Buhari?

As the famous butt pirate will say....

Like seriously?

I saw this coming, it's not customer funded so it can never be sustainable on the long run

Chai

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.

They have refused to Pivot...that's the first rule of startups...if X ain't your thing pivot.

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

This is serious

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.

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

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?

Chaaii..
A friend of mine got a good job through OLX

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.