So Bastian and I were debating about the type of founders and companies we were getting through the SPARK email tsunami which hit us since launch. I have spent the best part of my weekend trying to reply to all the emails with at least a little individuality. Its slow. Bastian was saying that the minimum expected from a pitch is a website. That’s it, a website. That, if a founder was to be successful, they would at least be able to get a basic utility first version online. This piqued my interest because with the surge in Indian coders online, basic web development is becoming a commodity. You can get version 1 of most things online in a short period of time. No excuses. I then started to connect the dots and realised the startup community in Nigeria will look very different than the ones in other countries in Africa i.e. Kenya, Ghana and SA. And thus definitely around the world. Very different. A quick role call of the first wave of big internet companies in Nigeria illustrates that. Most of the founders I come across are non-technical. Instead they are strong executors across product, customer and business development. They are not, like in the Kenya or Ghana ecosystems, going to be strong software engineers. Yet. The Kenyan and Ghanian ecosystems, with their competitions and hackathons are currently breeding a class of strong software developers, but as yet, not massive startup successes. In Nigeria it’s currently the land of the executioners. That’s the secret sauce we look for. Not whether the market opportunity is big, but whether the founder is the right person to exploit it. Are they strong enough?

iROKOtv - Bastian and Jason - non-technical founders

Paga - Tayo and Jay - non-technical founders

Wakanow - Obinna - non-technical founder

Konga - Sim - non-technical founder

Jumia - Tunde and Raphael - non-technical founders

Spinlet - Eric - non-technical founder

Jobberman - Deji et al - non-technical founders

Cheki - Chika - non-technical founder

These are the ones which popped into my head. I am sure there are some on both sides of the table but I believe mostly in Nigeria the startup founders are non-technical. 

Most of the first wave of big scary internet startups are more likely to be founded by strong executioners rather than code-heavy hackers. That is largely because the internet alpha in Nigeria is currently about facilitating offline activities online; organising chaos and bringing an order of efficiency is what most of the above companies are exploiting. In the West, none of these companies would be created today and be able to exist or compete, because those opportunities have largely disappeared. In Nigeria these things are mostly annoying or straight difficult to do. Hence the alpha. 

SPARK.ng is not a FUND but a COMPANY (source spark.ng) – for me SPARK.ng is all HYPE. Yes, make enough noise and you will get heard particularly in a country like Nigeria. Listening to interviews with Jason et al, they have failed to clearly articulate the actual synergies or benefits being achieved by companies involved in SPARK.

Yes I know they have mentioned the likes of funding, internet, electricity, blah blah blah. Is this what we really want to hear? Yes I know our failed infrastructure make these issues a big deal but please! SPARK say they are not a fund, but lately the whole rant has been all about money, money, and money #Spend$1m, #WriteCheques$30-70k. Let’s hear some #WeAddValue, #WeAreNotAOneTrickPony, #WeHaveATrackRecordToShow. And yes we will fund ppts if it is a damn good ideal!

I will only listen to the likes of SPARK.ng when they clearly articulate their value-add. Otherwise for me, they are simply a FUND looking for more FUNDs to exploit the ailing start-up ecosystem in Nigeria. Will I have Jason on my board? You bet NO. What start-ups really need is collaboration for starters. Everyone wants to do the next BIG thing but the reality is there are huge benefits with the synergy of like minds coming together. I have lots to say about collaboration but perhaps not in this forum.

Above is a commenter from a Techcabal article. 

Let me start with some words of wisdom from my boy Warren Buffett. 

Writing a check separates a commitment from a conversation. 

In Nigeria, infrastructure is probably the most ridiculously over priced thing for a startup compared to any of the other obvious costs at the beginning. Compared to offices I have personally set up and run in JoBurg, London and NYC, Lagos was BY FAR the most expensive. N1.8Mn ($12k) for an apartment to live / work is no joke. Those who don’t think so are in for a rude awakening. EVERY founder of any internet company I speak to share horror stories of the cost of setting up. Employees are cheap. Everything else is stupidly expensive. Prohibitively so. But I digress, the rarest of value-adds to the startup ecosystem is CASH. The cold hard type. Without some type of seed investing, 99% of startups are stunted. And that’s what we have today. A stunted internet startup class. All the other ‘value-adds’ are a smoke screen to what is truly important. Cash. Let’s be honest, Nigeria lacks a significant class of revenue generating startups. If you can name me 20 which are generating $5k+/month in revenue (net revenue, not gross, net) every month of this year I would be happy to be wrong. And would be desperate to invest. What’s the difference between; Konga, Jumia, Jobberman, Cheki, Privateproperty, Vamido, iROKOtv, Pagatech, Spinlet, Wakanow, OLX, Tradestable, Hellofood et al and the rest? The difference is they are well capitalised companies. Hence they win or at the minimum compete agressively. The difference, my dear ecosystem is cash. 

I want to postulate that the Nigerian ecosystem lacks an unhealthy culture of not generating revenue. Or not wanting to. They don’t even like talking about it. A startup after all is 21st century hip way of saying young business. And business is business after all. The only measure or metric of a business in any language in any culture is revenue and profit. Cool products aside, for their continued sustainability they need to generate some type of both. Especially in Nigeria. Yes you can lose money as you invest and build up the team to exploit an opportunity but at the end of the day, you need to align that revenue/profit formula. When I first started iROKO, I stated that we were doing roughly $1Mn/per year. That was my first target. When we blew past that, I changed the goal to $1Mn per month. My business development team (20-people across 4 offices) are now focused on how can we get iROKO to $1Mn/per month in net revenue. Not gross. Net. Our plan is to get there before the end of 2014. 19months. That’s the culture that permeates iROKO. Not user growth or any other vanity metric, but actual product engagement and revenue per user. Anything else in Nigeria (and Africa) is corporate suicide. Once we hit $1Mn/month in revenue, we will face hitting $1Mn/per week and on and on until I can get little iROKO to $100Mn/year in revenue. Even if it takes me 10 years, I will get it there. I am happy to make that commitment. I have told every investor in iROKO that that is my simple vision. And boy is it a long one. 

So if there is one thing SPARK adds which not many others bother to do, it’s cash. You know for equity. Which means our ROI is based on the collective companies’ success. As one would say, the increase in the voodoo valuations upon further funding, outright sale or dividend payments. If you name me anyone else who is actually pumping money into the seed stage of Nigerian startups, I would happily step aside and allow them to ‘articulate their value-business-model-synergy’. Everything else is basically talking and mentorship. If that’s what you need, perhaps you should head over to ccHub which is what they focus on. SPARK is for the starving hordes. 

At the end of the day, to be blunt, SPARK doesn’t have to articulate anything. It chooses who it wants to work with. Not the other way round. I wouldn’t fund 98% of the stuff I see in the Nigerian ecosystem anyway, those that I would, they wouldn’t need to reach out to me. I would have reached out to them already. Go ask Rodney at TaxiPark.  

Giddimint.com | Kelo Okeke

Kelo built Giddimint, his online fashion store, by himself with money he saved up from his job at HP. I think it cost him $1k to launch and it actually started offline whilst he was at university. I was hugely impressed when I first saw the site as it reminded me about the coolness usually attached to fashion products. One of my small failed startups was a fashion ecommerce website in London so I understood the economics well. Not to mention 99% of my upper body wardrobe are tees. Giddimint was cool. Kelo was starving, not literally, but the kind of entrepreneur I love. He was willing to quit his safe job at HP to explore Giddimint but just needed some funding. He was generating $1-5k/month in gross revenue from his bedroom. I actually can’t remember who reached out to whom, but I met Kelo once. In that same meeting was Bastian and Mary. We all liked him and offered an investment on the spot. One meeting. Kelo quit his job at HP and is focusing on creating a cool space for Nigerian fashion. 

We are committed to our startups. Conversations are long. We write checks. 

It’s been about 10 days since we announced the existence of SPARK. I have a hundred unanswered emails in my inbox which I will definitely tackle tomorrow. But I wanted to put into context what the SPARK investing thesis is. It’s really really simple. If we invest $50-250,000 can we help create a company which can independently generate between $30 - 100,000/month in sustainable revenue within 24 months? Although we only mentioned the $30-75,000 seeds we actually have capacity to grow that over time to $250,000 per startup, before we would think to seek VC or institutional funding. The first $1Mn is just to throw out there into 20 companies and see what comes back. But before we get to that, we invested in very specific types companies (as opposed to the ones we helped originate ourselves). I wanted to share some of those funding stories. I am super risk tolerant. In fact, some say I have very little concept of what risk actually is. I have hollowed myself out not care about the downside too much. Bastian and my wife are the counter-balance, they keep me in check. But onto some of the funding stories. Start-ups which I am sure 99.9% of people wouldn’t have funded before now. I hope I can help ignite a seed funding revolution in Nigeria. I hope. 

Hotels.ng | Mark Essien

When I first read about Mark on the 24th January, I shared the link on my Facebook wall and followed up with a blog post on my old website.  We exchanged on Facebook and I mentioned if he was interested in accepting any angle finance, I would be happy to participate. That was January 2012. Over a year before SPARK. He turned me down. Told me he had raised $30k and didn’t need anything more for now, perhaps in the next 6-12months. I kept an eye on his progress and we exchanged emails over the course of 2012; I would always attempt to advise Mark on Hotels strategy and he was super open with me in terms of sharing where he wanted to take the company. Mark was initially based in Germany but returned back to Nigeria late last year. To all places, Calabar. Mark is one of the most impressive young men I have come across anywhere in the world and have no doubt with or without me he would be successful. But firstly Mark had been operating his website a year previous to SPARK’s investment, the skeleton of an operating model which he is merely adding flesh to currently. Mark was alone in Calabar and the financing has helped him build to a team of 12 within 6 weeks. 

Estatenode to ToLet.com.ng | Fikayo, Seyi, Sulaiman and Dapo

Fikayo emailed me on the 8th October 2012, he was pitching about his real estate listings site Estatenode. The pitch went something like this 

We launched on the 19th Of July 2012, we currently have 610 real estate professionals  registered on our site, with about 2,000 listings we have processed 16,500 searches and 300 property requests with a cumulaive of 18,893 visits and 124,324 page views. We have closed around 32 lettings on the site since launch. 

Fikayo told me he needed finance to scale. I replied immediately and met with his team the very next day. We went back and forth for over 3 hours about the intricacies of how they were tackling the market. Unluckily for them, I had just returned from a Tiger Global internet conference in NYC and had reacquainted with  Justin Blake, CEO Privateproperty Africa. I also had spoken and had mad respect for Privateproperty Nigeria lead Femi Taiwo. I told them in no uncertain terms that he would get buried by Femi and in fact should not even bother to compete. I have written before that I am wary of the winner takes all dynamic of marketplaces. Subsequently 2-3 multi-millon dollar backed property marketplaces have entered the space. That is now another Titanic and costly war. I told them I hated the name too. I then circled back with Fikayo in January to get a progress update. They had continued with their vision regardless of what I told them. In January it was obvious they were struggling. Little did they know I had already evangelised them to Mary and Bastian; a deal was going to be offered, it was up to them not to fuck it up. In our initial meeting I had been very impressed with their hustle and market knowledge. They came in for a second meeting. Mary and Bastian liked them too. We offered them an investment on the spot. There were some finer market shifts they needed to make to increase their chances of success. Two weeks later, the deal was done. Enter ToLet.com.ng, exit Estatenode. Fikayo and team are definitely hardcore hustlers and just needed someone to have confidence (and cash) in them to execute. They work 7 days a week and have blown us away with their branding and raw energy and ability to execute. The initial 4 person team is now around 14 I think. 

These are just two stories from the 13 funded. I will share more with you later. But it’s important to see the context into why we get involved with companies. I will never fund a PowerPoint presentation. I want to see something. I believe in the founder’s journey, I believe that in Nigeria you really need to have suffered and been totally frustrated with your startup before you ever get a proper relationship with it. I believe that great founders are forged in fire. Founding a startup in Nigeria is a full contact sport. The meek need not apply. 

* I am NOT here to save your life. I am here to make money. If you need salvation. Go to Church. They are in abundance in our great land. 

* SPARK needs to understand and believe in your revenue generating model. Please just don’t say ‘Advertising’ - I run media sales teams across NYC, London, NYC and Johannesburg, there are very few things I don’t know or can’t find out quickly about global or local ad markets. 

* I don’t want to run your company. Bastian and I wake up to billion dollar companies wanting to crush us and have no appetite to run a startup. We will evaluate you based on YOUR ability. 

* Although we have a development team on staff, the world is full of cost-effective developers. If you can’t get a quick and dirty basic version of your website online then you are probably not going to be able to run a company. Gainful employment may be your calling. 

* I don’t read emails longer than 100-words. Keep it concise and stupidly simple when you email me. I read all emails and try and reply. The longer the email the more difficult that becomes. 

On a final note. Theodore Roosevelt’s Man in the Arena. 

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat. - 

Excerpt from the speech “Citizenship In A Republic” delivered at the Sorbonne, in Paris, France on 23 April, 1910 - THEODORE ROOSEVELT

Varys: Chaos? A gaping pit waiting to swallow us all. 

Petyr Bealish: Chaos isn’t a pit. Chaos is a ladder. 

Many who try to climb it fail, and never get to try again. The fall breaks them. And some are given a chance to climb and they refuse. They cling to the realm, or the Gods or love. Illusions. Only the ladder is real, the climb is all there is. 

Where there is no upheaval there is no opportunity. Chaos creates all types of opportunities for young insurgents to come and disrupt the slow, fat incumbents. If you come from nothing it’s difficult to get anywhere where order exists. You have to drag the game into your court. Make their strengths become their weaknesses.

I was discussing with Bastian earlier today about the culture of Germans. They are obsessed with being super efficient and / or organised with whatever they do. I postulated whether the German people were a product of their culture or did their great institutions reward and instil the need for efficiency in the wider populace. Were they created? Interestingly, I read an article in Forbes about an African doing business in Germany. If you want to conduct business with Germans their primary concern isn’t ‘soft” relationship building type activities. They don’t care too much about niceties regarding your family and stuff. Their most important concern is whatever you are selling. Does it work? And at what price? Yes or No. Simple. In Nigeria, it’s the exact opposite. Nigeria is largely ALL about relationships. What tribe are you from? Who your father is, where you went to school, where did the referral come from, who is your chairman, are you willing to ‘do what needs to be done’ to close this deal, what is your political patronage  etc. etc. Nigeria is chock full of people who created great wealth from extracting a tax on vanilla business activities.They utilise all manner of deviousness to make many millions of dollars from basically nothing. The result is chaos and widespread mediocrity. Nothing works because there is no pressing concern for it to. Contracts are awarded and funds immediately looted before the money has even been released. The resultant projects are hence mediocre by design. And 170Mn all wallow on the cusp of the gaping pit of Nigeria. Everyday there are hundreds of reasons why it’s not safe or sane to be in Nigeria. But yet we remain. 

Because of the ladder. If an unstructured man went to Germany to try and build his fortunes trying to do things the mediocre way, he would fail. At least Bastian believes so. Whereas if you came to Nigeria with ‘hey look, it works’ only, I think you would largely fail too, especially in old industrieis where you wouldn’t even get a meeting unless a.] someone important got you into the room. b.] you paid an ‘Introducer’ [I once met an ‘introducer’ from India. If you wanted to meet a prominent business or political figure, for a fee which ranged from $10,000 to $250,000 they could arrange a meeting. Nothing guaranteed. Just a meeting - if you understood how difficult it is to get a meeting with wealthy or important people in Nigeria you can understand how reasonable those sums sound.].

If you attempt to do things without the relationship element in Nigeria, unless it’s in a space (like the internet) where there is no pre existing order or hierarchy, your chances of success are greatly reduced by the gatekeepers. That’s why I love creating companies in the internet space. No gatekeepers. Abuja is especially suited to this type of activity as the city is full of frustrated middle men waiting to hammer their big contract. Nigeria is full of people with powerpoint presentations running from one potential deal to the next. That’s their job. A minor fraction are super dupa successful. Enough to inspire the next generation. 

The internet is coming and will create chaos across huge swathes of the Nigerian economy. Amongst that disruption the next generation of young wealth will be created. Not from extracting taxes from corporates or vanilla business men but from building hopefully amazing value and solving big scary offline problems. That’s the bet SPARK is making. We are betting on the unstructured men. Those who can skilfully navigate the hostile shark-infested terrain in Nigeria. 

* There are not many Igbo folk in London (or UK), this is something which has always confused me. When I came to Nigeria I asked around. Most Igbos think there is no money in the UK. Too many ‘rules and regulations’. They prefer to try their hand at hustling / trading in Germany, China or USA - the great trading nations of the world. I have polled the average Igbo dude and they literally have zero interest in going to the UK as they feel it’s for the educated and employable. Not for the unstructured man. 

I don’t like the hard stuff. I Love it. 

I have a predisposition to tackle what, on the surface, may be easy but once disturbed is actually really really difficult. Grimy. Dirt-under-your finger nails type stuff. Easy stuff is simple to replicate; there is no real competitive advantage. The dirtier and less desirable for most. For me, the harder the better. When I started iROKOtv, the easiest part was building the actual web platform. The difficult part was acquiring the content. It may seem easy but I assure you it’s not. Finding executive producers in Nollywood is not easy. Gaining their respect and trust is not easy. Figuring out up front the ROI on a movie license in a complete data vacuum is not easy. The legal framework of the deals are not easy. I spent the best part of 3 trips to Lagos and 6-9months attempting to develop relationships with content owners whether in Alaba or in Festac. Then I spent equal amounts of time trying to figure out how not to get fucked over by those exact same people. We, from day one, lawyered up and put all kinds of obstacles in place to reduce our fuckability factor. Bastian and I early on devised a frame of thinking called the FUCKABILITY factor. The idea is simple. Take a business deal and imagine and solve upfront all the various ways in which the other party could fuck you. Examples being… People say contracts are worthless in Nigeria. No problem. Get them to pledge to the contract details on camera. Try fighting that in court! People could close the deal with you, turn around and sell the content again to someone else. Brilliant, for the first year we paid producers over 3 instalments, over the course of the multi-year contract. In Nigeria especially, if someone owes you money, they have allocated  and planned for how they are going to spend that money as soon as the deal is signed. If you pay them in instalments, they are seriously motivated to keep to the deal terms to ensure they get what they’ce already spent in their heads. By that time, iROKO had closed deals with most of their peers making screwing us more difficult. Then the digitalisation of the content from its myriad of formats into a standard online ready format was an absolute nightmare. We had 45 people and even Bastian used to ask what the hell we needed all those people for. People used to mention we were bloated. I merely laughed. Try digitising 15 years of textual, audio and video content with a ‘lean’ team. 

Everyday I struggle to juggle hundreds of different data inputs to try and plot the best course for bringing Nollywood online. I have made some stupid mistakes no doubt, but we survive and keep on moving. I used to buy a movie license for $100-500 in 2011. Now that same license could be anywhere from $3,000-$22,000. I increased the price thousands of percentiles in absence of any competition because a.] I thought the content was much more valuable than $100-500 I was able to afford then and was able to see the ROI in the short term and model it out for the longer term to justify increasing the prices and b.] it seriously discouraged any fast followers. All of the above made entry into digital distribution a frustrating and expensive affair. Hard. Today I look around and don’t really see any real contenders as most were unwilling to engage in the mostly hard stuff facing them in taking a new market.  

The SPARK companies may seem relatively simple on the surface but they are solving some really really tough problems. 

Nothing, I must add, compared to what Paga is attempting. Whose CEO Tayo Oviosu is someone I have learned to respect. What they are doing in terms of pioneering mobile money in Nigeria is nothing short of scary. As difficult as the technical mobile platform is to create, my feeling is the offline stuff is the hard bit. This is a big hairy problem which is brutally costly, regulatory fraught and operationally nightmarish. I definitely wouldn’t attempt it. Simply building the thousands of agent networks is a nation-wide, multi-state ground-level activation beast which few would be able to repeat. The only companies who have that at the moment are the telcos and / or banks. Billion dollar companies. So Tayo like me has to wake up with billion dollar companies attempting to crush them. And their journey is much more long term. 

Tech folk always try to solve problems with technological tools. Good luck with that. The first wave of successful internet startups in Nigeria has been and will definitely be using the internet to facilitate offline activity. The main value add is how you connect the online and offline. Bastian has a natural tendency towards efficiency, I am much more interested in solving the problem, irrespective of how manny bodies you have to throw at it. I have come across the same perspective from other internet startups at SPARK and always try and help their decision-making around when to optimise and when to run like the wind, to hell with efficiences. Because whether there is one person or 15 people working on something, solving it is more important than how you solved it, because customers don’t care. 

Today, there are broadband-rich data buzzy internet strategies which are largely a Western play and are widely available and debated on the top tech blogs. Then there are internet businesses of late 90’s which reign supreme in Nigeria today. iROKOtv as a site is strangely in the middle. Video streaming is solidly a 2006 phenomenon, onwards in the West and we are commercialising the most data-intensive activity on the internet here in Nigeria. And we are having great success. 

In Africa, iROKOtv Africa is a standalone business. It makes zero economic sense and we would be dead if not for the Diaspora. The most successful internet businesses in Nigeria today are employing strategies of Internet 1.0. Paga is attempting to be more than mobile money. They are attempting to replicate what PayPal did. PayPal was founded in 1998. Jumia and Konga are duking it out for the title of ‘Amazon of Nigeria’. Amazon was founded in 1994. Wakanow is trying to be the Expedia of Nigeria. Expedia was founded in 1996. All the classified businesses are as old as the internet itself. The grandaddy of them all. Craigslist, was founded in 1995.

KULUYA games are stupidly simple. Some would say the shitty and stupid kind games. But if you look at the history of games online you will find flash games were the first type of games to go big online in the late 90’s / early 2000’s. If you look at the rise of Europe’s $500Mn valued Miniclip, Viacom’s $200Mn acquired Addictive games and Disney $100Mn acquisition of Indiagames.com there was and still remains real value in flash gaming. EA acquired Pogo.com for $40Mn. You just have to know how to extract it. Advertising works in the West; advertising has to still be aggressively sold in Nigeria which is difficult. Earlier this week, KULUYA closed a 5-figure content syndication deal with 4-5 more in the pipeline. This is a large opportunity. Not a million-dollar a year business, that much I know. But for me, some of the most significant innovation at KULUYA is actually allowing the games to be download and played. That is not as simple as it seems. I can’t play 240px YouTube short form clips at home with my $130/month IPNX connection. But I can play KULUYA games. Simple but actually quite a challenge to deploy. 

The new new thing. Mobile 

The first wave of mobile games on iOS were simply ported from popular flash games. Simple. No real innovation and essentially, the same games but on a different platform. Then obviously the eco-system evolved; it became more intelligent, more awesome. It spurned amazing companies like SuperCell, which went from launch to $2.4Mn/day in revenue in 9 months. Except that’s largely a western phenomenon. It is IMPOSSIBLE to create that type of quick success in Nigeria. The infrastructure simply isn’t here, so even though you love the western things, you build for Nigeria. What the infrastructure can absorb, you build for internet 1.0. Mobile, mobile, mobile first I hear them cry! Yes, I reply. But people don’t get apps yet in Nigeria. Smart phones do not reign supreme. Yet. And it will take 3-5years to get there. The digerati are in awe of each others’ android phones whilst 60% of Nigeria’s smart phone market sits with Blackberry. Bastian spoke with Eskimi CEO a few days ago at Mobile Web West Africa. Eskimi has 10Mn users in Nigeria. 2% are Android. 30% Blackberry in terms of traffic, the rest Nokia, off a base of 10Mn users. Put that in your pipe and smoke it, Mr Digerati. Try building a business on android in Africa. You will fail. Wait a few years, then you might be successful. 

But wait, you can also build from Nigeria for the global audience. Fuck that. There are easier ways to make money. 160Mn people in Nigeria is a good start. The largest internet market in SSA is a good start. That’s why all SPARK businesses are focused on solving and building businesses within Nigeria. I literally couldn’t give a hoot whether the success is local or global. Success is success is success. A USD here is as good as any in the US of A. I spoke at the Harvard Africa Forum last year. Someone from the audience asked me something about why I thought I was so successful. I told them that I can easily navigate the hostile environment of Nigeria. And I wasn’t competing with armies of Ivy League MBAs. Yet. Here, I have the edge. Emerging markets are different than developed ones. Believe that. 

KULUYA is employing Internet 1.0 strategies to build a business for Nigeria. The gaming exchange was developed in response to an advertising environment where just a large audience isn’t enough to gaurantee large revenue. A gaming exchange alongside other revenue generating activities I believe will make KULUYA one of the most valuable digital assets in Africa. 

But of course. I could be wrong. And it’s worth. $0,000,000.00