Amidst saturation of the eCommerce space, the founders of Traclist managed to carve a niche for themselves in fashion-focused eCommerce. So much so that the startup generated revenue in excess of ₦80 million in 2015 alone.
However, the following years have been much drag for the startup — its existence appears to have become a fading memory, with some wondering whether they are still in operation. Rumour had it last year that Traclist was shutting down.
Techpoint recently reached out to the one of the founders, Emotu Balogun, who confirmed the rumour.
“We have temporarily shut down Traclist and are working on a new product”, Emotu told Techpoint
Emotu had earlier confirmed, in an email response to Techpoint last year, that Traclist was indeed undergoing a number of internal changes. What the mail didn’t give an inkling to was the reason(s) underlining such a move. Perhaps, the apparent long radio silence from the startup buttresses how hard it is to sustain an eCommerce outfit in Nigeria.
It’s not all a bad news for the founders though; the ‘new product’ in question plays within the logistics arm of eCommerce. When pressed to share more insight about the new venture, Emotu refused to oblige. Regardless, we wish Emotu and Segun luck in this new endeavour.
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.
Lead Venture Analyst at Techpoint. Eager to tell startup stories that offer Nigerians the much needed creative solutions to relate-able problems. Get in touch.