What could have been if $43 million that was stashed in Lagos was invested on 43 startups


#1

Guys!

For all those Investors : What could have been if $43 million that was stashed in Lagos was invested on 43 startups

And i’m assuming more of these stash still exist.


#2

They’d all have $1m a piece.


#3

Nothing except undisclosed performance updates. Those that were previously given a $1m dollar should provide us with encouraging stats.

For instance, Travel Beta, a start-up which I am closely monitoring raised $2m about a year and 4 months ago. Till date, I haven’t seen any difference between what Travel Beta offers that I cannot get from WakaNow (Perhaps, sponsoring Big Brother Nigeria?)

My point: Money isn’t really a determinant of success. We’re currently not disruptive enough to attract huge investments and most millionaires (in Nigeria) would rather just put their money under the bed.

Edit:
It appears I responded from a different point of view. So on a different note: I believe the money would have been used to start new businesses, create jobs as well as provide incomes for the unemployed. But that’s not really how money works. You don’t just give it out, you invest it…


#4

This is a very ignorant point… But you’re right when you say “money isn’t really a determinant of success.” Success is what you make it to be, I consider waking up every morning a success…

Your point from your POV means Money isn’t really a determinant of making more money… To make money you need two or more of an idea, knowledge and skill, a sponsor, different methods of how to implement the idea, money/capital, a job e.t.c… most people make money from a job…

Example, If an app developer spends $500k on app installs on an app with in-app purchases and ads that app developer would make over $500k for that year.

Knowledge is power.


#5

Wanna know what could have been? 39 of them would have failed.


#6

And four of them could have IPO , creating over 3,000 Jobs


#7

How many of the successful startups over the past 5 years have had an IPO? Lagos isn’t Silicon Valley and Nigeria isn’t the US. It’s not that straight forward.


#8

Wake up from your dream, and smell the coffee!


#9

@Possicon, just to clarify, who should wake up? @shegsade or @ndjohn?


#10

Poster now!


#11

And those that don’t have coffee should smell what?


#12

There’s always Lipton.


#13

Or agbo…


#14

I smiled when I saw the IPO comment… Nigeria’s current financial infrastructure isn’t geared to handle such. One can understand by seeing how long it has taken Interswitch…


#15

Plus there’s a culture problem in Africa… the masses are generally stubborn to embrace new tech and they all hide behind the shadow of fear and mistrust… before IPO’s can become a usual in Africa, it will take a while(i mean a long one)


#16

The lack of exit options may be the true problem here… its like a journey with no finish line, it gives investors cold feet…
the current working options are

  • grow fast via B2B deals and go continental and hopefully be able to buyback your equity at 5X+ or instead attract private equity from which early investors can cash out (e.g Interswitch)
  • grow deep via serving few corporates on an infrastructure or utility level, then get acquired (e.g. Vanso, Helios towers)

This issue needs to be solved and few appear to be addressing it… but I heard of Compex and what they’re doing looks interesting…
Please share any other exit options you may have heard of


#17

I don’t see what “the masses”, “new tech” and “IPO” have in common. How are the masses stopping Interswitch or Iroko from getting an IPO please?


#18

Lol…bro do your research…First of all, Do you know long has Interswitch been in the market?..do you how many hurdles they had to jump, do you know how much marketing they’ve done and how long it took them to forge their partnerships and the kind of framework they’ve done to get to where they are?..do you know how many products they’ve had to produce to get to where they?..Think on these things…As for Iroko, my Grandmum has no idea who they are, plus their highest subscribers aren’t in Nigeria or even Africa…


#19

seconded… yes indeed… e.g Etranzact which was a startup in 2003 is today quoted on the NSE and doing ok (in the same space as interswitch and nibss).
Date of Incorporation 7th May, 2003
Date of listing on The Stock Exchange: 7th August, 2009
Authorized Share Capital : N2.1 Billion

it does take a long time, and many will fail but its possible… stay hungry - stay foolish!


#20

You didn’t answer the question but, okay.