This. He could have come here to share that and contribute to the discussion. But instead, went on his blog to attack the conversation. We are sorry. Never discuss failure where Jason is concerned… Unless of course you’re talking about how to get him flowers to “celebrate” it
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Lol, you’re a rebel! You mean you’re not paying homage and bowing down at the temple of greatness?!! What’s rong with you? Slight temperature?
BTW, do you know the sad part about this Kuluya thread for me? I didn’t get to play any of their games. So pls & pls, if anyone out there knows how I can sample action (kuluya means action…), drop me a link or something.
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I’m worried @xolubi might get kidnapped the moment he steps onto Nigeria.
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@xolubi is still a learner!
When he has made millions, helped deserving people, can genuinely and openly regard plebs with disdain, feel the need for respect at all times, have to rehash the story of ‘how he made it’ at every opportunity,…then and only then can he understand what success/failure is.
Or maybe there’s another way, where he wouldn’t feel folks are just jealous of his success & criticism/questions are not pseudo personal attacks.
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I’m really tired of people thinking our huge population means there is a market for certain businesses. Yes, there are 100 million Nigerians with mobile phones, yes some even have 2 phones, but what percentage actually play games? What percentage are willing to pay for games or even make in-app purchases?
Please, let’s not get carried away with this our so called huge population.
Thank you for your definition of valuations. What you forgot to mention is that the higher the valuation, the harder it might be to get investors down the road if the company is struggling to generate revenue or even show potential revenue. I believe what OP is saying is that one of the first problems with Kuluya was her over valuation.
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I am worried too 
@PapaOlabode be adding fuel on naked fire. Insisting it’s water. 
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Lol @87_chuks maybe more like olive oil…it can be soothing or inflammatory. All depends on perception.
But of course, I’m more than happy to be shown where my take on this is wrong. So feel free to do so.
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@Jason_Igwe_Njoku addressed this topic just yesterday here:
http://www.jason.com.ng/post/144242043005/failure
Ermm, bros. It’s like u were not following the thread… @lordbanks beat you to it… [quote=“lordbanks, post:52, topic:5545, full:true”]
From @Jason_Igwe_Njoku
http://www.jason.com.ng/post/144242043005/failure
It doesn’t say much about Kuluya, but I agree with him 100 percent that our attitude to failure is at best weird and at worst, horrid.
[/quote]
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Oops! My bad 
Given that people spend an incredible amount of money and time on their phones says there is a market. Game developers have got to be creative. If the mobile companies can create a 9 billion market just from ordinary ring tones what more actual games.
@xolubi there’s a security service for startup CTO/CEO - https://www.omoita.co
They offer full security service for folks like you that some people really do hate because you pando out truth
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@wkyo You got me. I clicked. 
I didn’t forget that, it was irrelevant to the point i was making.
My questions are; How do you know it was over-valued? Is there a reference point for valuing African startups in particular? What would have been the ‘correct’ valuation then?
Even in the valley, startup valuations for seed stage are still very complex, that’s why most investors and founders these days would rather settle on convertible notes and agreements such as SAFEs than to rather go for a concrete valuation. It’s all quite subjective.
Again, this is all in hindsight. If Kuluya had been successful, this thread wouldn’t exist.
@Sherlock basically your arguement is: A startup can wake up anyday and based on lofty assumptions, day dreaming, fairy dust - (as you put it) give itself any valuation it so desires.
So I believe you expect an investor to ride through the woods in his majestic steed, slaying dragons, and saving the fairy princess startup by dolling out millions of $. and then they live happily ever after.
You ask for a reference point for valuing… It believe its a combination of many factors. the product, the market, startup capital, userbase, webtraffic, investor interest…etc. and not fairy dust. You could also approach an audit firm
Kuluya founders right now
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you guys are not too well
Jason post–Kuluya came up in a recent discussion topic on TechCabal’s Radar. As expected, it was overwhelmingly negative. Mocking me. How wrong was I? The Hubris of me for writing this article [have some fucking respect for Nollywood], wanting to crush my competition in gaming, managing a business from TechCrunch etc etc and the real founders be like WTF
Sigh. The strawman enters 
You’re wrong, that wasn’t my argument. What i implied was, startup valuation is not an exact science; there are so many variables at play.
No one expects this. Investors aren’t obliged to invest, they do so at their own discretion.
I already stated this in my first reply.
My whole concern is:
OP claims Kuluya was over-valued. I asked, how does he know that? What REFERENCE is he using to make that claim? What is the average valuation of an African startup at seed stage?
PS: You totally misconstrued my “fairy dust” reference.
ummm what, mate?