List of nigerian tech companies that look like they are not making money


#1

i DON’T MEAN TO OFFEND ANYONE HERE, I HAVE COME TO UNDERSTAND EVERYONE HERE IS A LION THAT DON’T LIKE BEING CALLED AN ANIMAL,

THIS IS JUST AN ANALOGY , YOU SHOULD BE THANKING ME FOR WRITING SOMETHING SO FUN THAT ATTRACTED TO READ TO THIS POINT, I WON’T DISAPPOINT YOU ,I AM HERE TO FRUSTRATE YOUR TEMPERAMENT.

FIRST OF ALL , ALL OF YOU PEOPLE IN THE TECH ECO SYSTEM ARE STUPID, DO YOU KNOW THE DEEP RELATIONSHIP MANY COMPANIES ABROAD HAVE WITH THEMSELVES THAT YOU HAVE NO IDEA ABOUT?

HOW WOULD FLUTTERWAVE AND PAYSTACK MAKE ANY MONEY WHEN ALL THE NIGERIAN START UPS USING THEIR PAYMENT GATEWAYS ARE FAILING,

THE CEOS ARE BUSY INVESTING IN OTHER BUSINESSES TO ENSURE THAT THE HEAVY INVESTMENST MULTIPLY SOMEHOW, BUT THEIR STARTUP ISN’T BRING THAT MONEY.

WHY WON’T THE START UPS FAIL , WHEN EVERY PERSON IN NIGERIA WHO HAPPENS TO BE EXPOSED TO SMART PHONE IS VERY STUPID, AND THE ONES THAT HAPPEN TO ACTUALLY UNDERSTAND TECH ARE EVEN MORE STUPID.

ALL THE MONEY IS GOING TO FACEBOOK AND INSTAGRAM AND SNAPCHAT AND REDDIT AND YOUTUBE AND THE REST OF THEM , WHEN VENDER,LINDAIKEJISOCIAL,HASKAAR,MYOPINION.NG AND SO MANY UNHEARD START UPS JUST START,EXHAUST THE TINY CAPITAL THEY MANAGE TO START WITH AND THEN DIE OFF LOL, BECAUSE OUR STUPID NIGERIANS PREFER TO USE THE APP THEY FEEL IS THE BETTER ONE, WHY WON’T IT BE BETTER WHEN THEY HAVE ACCESS TO ALL YOUR ATTENTION AND LIFE, THEY HAVE YOU LIKE IT’S A BENIN CHARM, YOU FAIL TO SEE THE ONES STARTING UP WILL ONLY BECOME BETTER IF YOU PATRONIZE THEM ENOUGH TO RAISE MORE REVENUE,

THEY CAN NEVER BE UPTO STANDARD TO WHAT THESE BIG COMPANIES HAVE SHAPED AND WIRED YOUR BRAIN TO THINK IS THE STANDARD, LOOK BACK, WERE THEY ALWAYS THAT STANDARD SINCE THE BEGINING

WHO’S GOING TO WATCH IROKOTV WHEN THERE IS YOUTUBE, EVEN AFTER REDUCING THE ANNUAL FEE TO 2K AND EMPLOYING AGENTS TO STAY UNDER KIOKS EVERY WHERE , THE THING IS NOT WORKING,HE IS PROBABLY NOT BROKE BECAUSE HIS FRIENDS IN THE ILLUMINATI ARE STILL BORROWING HIM MONEY

HOTELS.NG DROPPED FROM 500 TO 100 DOWNLOADS ON PLAYSTORE AND WE HAVENT EVEN SEEN ANY CHANGES GOING ON , HOW ARE THEY EVEN MAKING THEIR MONEY, THEY ARE SUSTAINING THE BUSINESSES AND INVESTING IN TRADING,MOST LIKELY, MARK DOESNT KNOW THAT IF HE WANTS HIS BUSINESS TO GROW HE SHOULD INVEST IN THINGS THAT WILL PROMOTE IMMORALITY IN NIGERIA AND EVERY BODY WILL BE FLYING TO HOTELS TO FUCK EVERYDAY AND BUSINESS IS BOOMING

TOLET.NG STARTING GOING BROKE , I NOTICED WHEN THEY STARTED SHOWING TOO MUCH ADS, ADS BEGGING PEOPLE TO ADVERTISE WITH THEM,HOW WILL THEY DO THAT MY BROTHER WHEN ALL THE ADS ARE PUSHED THROUGH FACEBOOK AND INSTAGRAM,

AND THE STUPID PEOPLE POSTING THE ADS, DO YOU REALLY THINK THEY WANT YOU TO SUCCEED, YOU THINK AN ALGORITHM IS NOT FOOLING TO THINK YOU EARNED SOME REWARD,GHOST REWARD, YOU THINK THEY WANT YOU TO OUTSHINE THEM WITH THEM??? NOOOOOO, GO AND WATCH THE SOCIAL NETWORK 2005, MARK ZUCKERBERG WILL ALWAYS ZUCKERBERG YOU .

ANDELA THAT EVEN SIGNED DEALS WITH THE DEVILS, I HAVEN’T HEARD ANY PROGRESS REPORT EXCEPT THAT THEY WENT TO BEG FOR MORE FUNDS, WHAT TECH SOLUTION HAVE BEEN INTRODUCED INTO THIS NIGERIA FROM THEM, I KNOW THATS NOT THEIR MODEL,BUT ARE YOU STUPID, YOU WANT YOUR COMPANY TO BE BETTER ,AND YOU RE TRAINING THE PROGRAMMERS WHO HAVE THE ZEAL TO CODE AND CAN’T FACE THE SCOTCH OF RECESSION TO GO AND WORK FOR THE WHITES,OBVIOUSLY NO NIGERIAN ENTERPRISE CAN AFFORD THEM I PRESUME,WAKE UP AND HAVE SENSE,WE ARE HEADING NO WHERE WITH THIS OUR THINKING

OGA TAXI WAS SLEEPING WHEN TAXIFY TOOK OVER, THEY PROBABLY DIDN’T HAVE THE FUNDS TO ATTRACT MORE DRIVERS WHEN THEY STARTED AND THEIR POOR SERVICE DROVE THEIR EARLY ADOPTERS AWAY.THEY WERE NOT FUNDED

I WOULD HAVE SAID OGAVENUE IS DOING WELL,BUT WHO KNOWS, THE MEDIA CAN ONLY TRUTHEN A LIE.

OVER 58 START UPS FROM NIGERIA LAST YEAR DIED UNNOTICED, JUST LIKE THAT.

I EVEN THOUGHT A NIGERIAN OWNED TAXIFY TILL I WAS SHOCKED BY SOMEONE MORE INFORMED, I WAS HAPPY FOR THEM INITIALLY,

EVEN NIGERIAN PORN SITES ARE NOT MAKING IT, EVERY BODY WANTS TO WANK TO OTU OCHA.

WAKE UP NIGERIA,THIS 2018, SUPPORT YOUR NIGERIAN PRODUCT, JUST TRY IT FOR EVERY START UP YOU SEE, NOT MMM, NOT EVERYONE WANTS TO FRAUD YOU,INFACT YOU WILL RUN FASTER TO THE FRAUDSTERS TO USE YOUR BRAIN FOR IMPROVING THEIR DESTINY.

AND ALL THESE STUPID INVESTORS THAT WILL COME AND SHOUT AND HIDE, IF YOU ARE BROKE DON’T COME AND BE FORMING INVESTOR, IF YOU WANT TO INVEST, BRING MORE THINGS TO THE TABLE,

QUIZ UP TOOK SEED FUNDING OF $5m AND FAILED,INVESTORS STILL PARK GIDIGBAM!.YOU ARE HERE MAKING NOISE UP AND DOWN,ALL THESE SPARKLING BROKE PEOPLE, YOU ARE A NO BODY ,ALL OF YOU NIGERIAN INVESTORS, YOU RE NOT LOOKING FOR A STARTUP TO FUND, YOU RE LOOKING FOR A PONZI SCHEME,GO AND FEED YOUR FAMILY OR START A SUPER MARKET OR BUY CARS AND PUT IN OGA TAXI OR SOMETHING.

I WILL BE HERE THROUGH OUT THIS YEAR TO MONITOR ANY BODY WILL SAY PIM ABOUT WHAT I HATE THAT I DON’T LIKE.

IF THERE ARE STARTUPS I DIDNT LIST HERE ,PLEASE LIST THEM, I WANT TO KEEP PROMOTING THEM


#2

lot of assumptions

Real facts:
the same irokotv you talk about made almost 3 million dollars in revenue in 2016

playstore downloads are not a good requisite for a company’s financial position.


#3

Why the fuck did you use cap locks like a wild animal!


#4

A parody of realities. A sincere call for us to patronize our own.

Sincerely, I’m always happy anytime I patronize these guys. If we dont, we are part of the reasons they fail. I know it’s easier to sell foreign to Nigerians though.

Thumbs Up


#5

Wouldn’t bother reading past the first paragraph. Typing in all caps looks like a writing in all abbreviations. Like picking spaghetti from noodles.


#6

True talk. its high time we begin to patronize made in naija. I always wonder why foreign owned startups are dominating our tech space.


#7

Your post has a reasonable premise but has a clickbait title, terrible formatting (why the caps), is full of assumptions, poor research and just a lot of wrongness all wrapped in unnecessary emotions so… :woman_shrugging:t4:


#8

True talk, I guess the all caps text just Expresses the depth of his emotions which is fine. The tech ecosystem is just a scam in one side of the coin and on the side looks like the best industry to be in, tech Startups are dying every month, the only Startups that I can say are doing well are the betting Startups, the rate of surviving a startup is very low the market prefers the silicon valley Startups than locally made ones, I have always said this China did it, Russia also. The best way to solve this is not to say use made in Nigeria internet services no, assuming we had a real government, it is just a matter of banning Google, facebook, Twitter or any western services in our internet space for just 10 years and see if people will not visit naijapals.com or Lindabook.com, or irokotv.com if that exists because they are forced to, it sounds bad but that is the model that made the likes of Tencent, Alibaba group, Baidu Inc, Yandex, Mail.ru become who they are today.


#9

I Practically read the whole thing in Lasisi Elenu 's voice lol


#10

Moderators can you help the OP to format the post?

I will like to read but…

Oh! Update… I read from bottom up. Got part of the message.


#11

Even though you may have a few points (very few), but between the use of caps, your constant dishing of insults and your plain ignorance your write-up was painfully difficult to read.


#12

So much crap here. smh


#13

My takeaway from this post…we should start supporting our startups and the so called big startup companies start acting like actual big brothers. And we are tired of investors wishy washy… period.


#14

The message is clear but the messenger isn’t…

There’s a lot of wish wash in Nigeria’s tech sector…
Andela is an export business which also contributes to Nigeria’s brain drain …same as some of my clients…

Nigerians need to invest in sustainable Nigerian systems,
our government structure allows every nonsense that hemorrhages the economy all in favour of western countries…

I’m not supporting communism but there’s a need for constant evaluation of knowledge policies…else we become the willing slaves of the 21st century.

Every man is out for survival but the role of the government is to channel those forces to the benefit of the nation…


#15

The question now becomes:

Who will bell the cat?

All this Nigerians should do x & government should do y achieves nothing.
We’ve been pontificating on who should do what since 19xx. How about we actually start doing instead of engaging in imaginary division of labour?
Look at Silicon Valley that we often want to lift ideas from. All big companies patronize each other despite competing with each other.
Apple buys parts from Samsung, Microsoft invested in Apple & sells software to them.
Google is an investor in Uber despite them competing & dragging each other to court.
This behaviour is the norm rather the exception (the reverse being the case over here).
So long as we’ve can’t separate our egos & pettiness from business concerns, we’ll keep arguing over who should do what.


#16

A lot of conjecture here.


#17

Still wondering how MyOpinion.NG made it into your list of ‘UNHEARD STARTUPS’. Wonder when a side project made the list of startups in the first place :confused: :confused:


#18

For those of us with no super powers here is the text in human form:

i don’t mean to offend anyone here, i have come to understand everyone here is a lion that don’t like being called an animal,

this is just an analogy , you should be thanking me for writing something so fun that attracted to read to this point, i won’t disappoint you ,i am here to frustrate your temperament.

first of all , all of you people in the tech eco system are stupid, do you know the deep relationship many companies abroad have with themselves that you have no idea about?

how would flutterwave and paystack make any money when all the nigerian start ups using their payment gateways are failing,

the ceos are busy investing in other businesses to ensure that the heavy investmenst multiply somehow, but their startup isn’t bring that money.

why won’t the start ups fail , when every person in nigeria who happens to be exposed to smart phone is very stupid, and the ones that happen to actually understand tech are even more stupid.

all the money is going to facebook and instagram and snapchat and reddit and youtube and the rest of them , when vender,lindaikejisocial,haskaar,myopinion.ng and so many unheard start ups just start,exhaust the tiny capital they manage to start with and then die off lol, because our stupid nigerians prefer to use the app they feel is the better one, why won’t it be better when they have access to all your attention and life, they have you like it’s a benin charm, you fail to see the ones starting up will only become better if you patronize them enough to raise more revenue,

they can never be upto standard to what these big companies have shaped and wired your brain to think is the standard, look back, were they always that standard since the begining

who’s going to watch irokotv when there is youtube, even after reducing the annual fee to 2k and employing agents to stay under kioks every where , the thing is not working,he is probably not broke because his friends in the illuminati are still borrowing him money

hotels.ng dropped from 500 to 100 downloads on playstore and we havent even seen any changes going on , how are they even making their money, they are sustaining the businesses and investing in trading,most likely, mark doesnt know that if he wants his business to grow he should invest in things that will promote immorality in nigeria and every body will be flying to hotels to fuck everyday and business is booming

tolet.ng starting going broke , i noticed when they started showing too much ads, ads begging people to advertise with them,how will they do that my brother when all the ads are pushed through facebook and instagram,

and the stupid people posting the ads, do you really think they want you to succeed, you think an algorithm is not fooling to think you earned some reward,ghost reward, you think they want you to outshine them with them??? noooooo, go and watch the social network 2005, mark zuckerberg will always zuckerberg you .

andela that even signed deals with the devils, i haven’t heard any progress report except that they went to beg for more funds, what tech solution have been introduced into this nigeria from them, i know thats not their model,but are you stupid, you want your company to be better ,and you re training the programmers who have the zeal to code and can’t face the scotch of recession to go and work for the whites,obviously no nigerian enterprise can afford them i presume,wake up and have sense,we are heading no where with this our thinking

oga taxi was sleeping when taxify took over, they probably didn’t have the funds to attract more drivers when they started and their poor service drove their early adopters away.they were not funded

i would have said ogavenue is doing well,but who knows, the media can only truthen a lie.

over 58 start ups from nigeria last year died unnoticed, just like that.

i even thought a nigerian owned taxify till i was shocked by someone more informed, i was happy for them initially,

even nigerian porn sites are not making it, every body wants to wank to otu ocha.

wake up nigeria,this 2018, support your nigerian product, just try it for every start up you see, not mmm, not everyone wants to fraud you,infact you will run faster to the fraudsters to use your brain for improving their destiny.

and all these stupid investors that will come and shout and hide, if you are broke don’t come and be forming investor, if you want to invest, bring more things to the table,

quiz up took seed funding of $5m and failed,investors still park gidigbam!.you are here making noise up and down,all these sparkling broke people, you are a no body ,all of you nigerian investors, you re not looking for a startup to fund, you re looking for a ponzi scheme,go and feed your family or start a super market or buy cars and put in oga taxi or something.

i will be here through out this year to monitor any body will say pim about what i hate that i don’t like.

if there are startups i didnt list here ,please list them, i want to keep promoting them


#19

everything boils down to economy,do you think american startups will be successful without consumers spending.Nigerian middle class is very small.

Nigerians are broke and tech illiterate dont expect lot of activities online.how many 21 years old have up to 50,000 naira in their bank account?,or are even employed.the olders one with the cash are tech illiterate. dont expect magic to happen,even if you advertise them daily,Nigerians still do not have cash for it .online business in Nigeria is luxury

another problem is copy copy and not tweaking for local or african consumers

the americans we copy raised almost 86.6 billion dollars last year while we raise 196 million dollars
i think we have to be realistic in our market than pursuing after fantasies.