Wednesday, 27 May 2015

Nigerian business raises $1.2m from international investors - a Nigerian startup business that books hotels for people online - is in the news because it has raised an investment of $1.2m from eBay founder - Pierre Omidyar - and EchoVC - a Venture Capital Company based in Nigeria that does early stage investments for Nigerian technology companies...

Two or three years ago, there was no way of finding hotels online in Nigeria. A Nigerian - Mark Essien - came up with the concept of, which is a way to find hotels in towns across Nigeria and do bookings for those hotels. He was able to raise investment of $225,000 from Jason Njoku of IrokoTV (about N36 million naira) back in 2013, and after two years, the company has now brought in international investors to invest $1.2m in the company (N240million).

The company is said to be one of the fastest growing technology businesses in Nigeria - this trend of foreign investment being put in the country must continue!

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