Konga.com Nigerian

Konga.com Nigerian – Konga.com is a Nigerian e-commerce company based in Gbagada, Lagos State, that was established in July 2012. It has a third-party online marketplace as well as first-party direct retail for consumer electronics, apparel, home appliances, books, children’s toys, computers & accessories, phones and tablets, health care, and personal care products. The company also has a logistics service (EXPRESS) that allows shipments to be shipped and delivered to customers on time.

Sim Shagaya founded Konga in July 2012 with 20 employees.
[1] Konga raised a $3.5 million seed round from Investment AB Kinnevik shortly after launching in 2012.
[2] The site began as a Lagos-only online retailer focusing on Baby, Beauty, and Personal Care merchandise, but in December 2012, it extended its reach to include all of Nigeria, and progressively expanded merchandise categories during 2012 and 2013.
[three] This expansion may be a reaction to Konga’s main competitor,[4]. Jumia, which debuted at the same time, was backed by Rocket Internet. Konga.com Nigerian

Konga received a $10 million Series A round from Investment AB Kinnevik and Naspers in early 2013. Konga Mall, which opened up the Konga platform to third-party retailers and moved away from a pure first-party online retail model, was beta-tested in Q2 2013. [5] In late 2013, Konga closed a $25 million Series B round with previous investors Investment AB Kinnevik and Naspers, which was at the time the largest single round raised by a single African startup. [number six] Konga.com crashed and remained offline for 45 minutes on November 29, 2013, as a result of massive traffic generated by its Black Friday promotion. [nine] [eight] [9] Within the first six hours of the campaign, Konga sold more than it did the previous month. [nine] Konga.com Nigerian

In the first half of 2014, Konga rebranded its third-party retail site from ‘Konga Mall’ to ‘Marketplace,’ and by the end of the year, Konga’s Marketplace had grown to 8,000 merchants, exceeding internal expectations of 1,000 merchants by eightfold. Konga.com Nigerian

[11] During Konga’s 2014 Black Friday campaign, the company earned USD 3.5 million in orders, up from USD 300,000 the previous year.

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[nine] Konga’s revenue increased by 450 percent in 2014 compared to 2013. (12) Konga raised $40 million in a Series C round from Investment AB Kinnevik and Naspers in late 2014, making it the largest single round raised by an African startup to date. [6] Despite claims that Naspers bought 50% of Konga in 2013,[13][14], Naspers revealed that its stake in Konga after the Series C investment in October 2014 was 40.22 percent. (15) As of Series C, Konga was said to be worth about $200 million. [number 16] Konga.com Nigerian

According to Alexa Internet, Konga was the most visited website in Nigeria in January 2015.

(17) Konga “leads the field in Nigeria today [early 2015] in Gross Merchandise Value,” according to CEO Sim Shagaya. Gross Merchandise Value is a metric that measures the overall value of merchandise sold through a specific marketplace. [nineteen]

Konga reported in June 2015 that it had purchased Internet Nigeria Limited’s assets and mobile money license, fulfilling the Central Bank of Nigeria’s legal requirement for the provision of mobile payment services. The acquisition would support KongaPay, Konga’s solution for facilitating the adoption of cashless electronic payments, which was launched in August 2015. [nineteen] Konga has made online payment simple with its distribution payment option, which has been adopted by its many users. Nigeria has over 80 million mobile internet users. Konga.com Nigerian

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