It is no longer news that Wakanow acquired online bus ticketing startup, Oya.com.ng earlier in 2015. We know the deal was sealed in August. What wasn’t public information then was how much the acquisition was valued at.
Well, as we recently learnt from a reliable source, it turns out it was $2.5 million. That is over 50 times what Oya.com.ng was valued 2 years ago. It is easily one of, if not, the biggest acquisition deal around these climes. At least that we know of. Acquisition deals within the Nigerian tech scene are usually shrouded in as much secrecy as the parties involved can manage.
If you ask me, these are exciting times. One question that comes to mind is if this spells the advent of even bigger acquisition deals within the Nigerian tech scene in 2016. In 2015, we saw startups raise millions of dollars in funding. The highlight of the funding scene was Travelbeta raising seed funding $2 million within 6 weeks of launch.
I don’t know about you guys, but I want to see more of such funding and acquisition deals in the coming year.
2016 is going to be super exciting. What say you?
“Branding and marketing for small businesses” is the theme for the 2nd edition of our SME Clinic. Find out how you can participate here.
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Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.