Konga ex-boss, Sim Shagaya started and failed at these 4 projects before finding success

by | Nov 18, 2019

The news of serial entrepreneur, Sim Shagaya exiting his advertising company, E-Motion Advertising, made the rounds over the weekend. It was reported that E-Motion Advertising was his first company.

Although technically true, this might not be the case as Sim Shagaya was involved in four different projects before starting E-Motion Advertising in 2005.

In no particular order, Sim created a dating site, Alarena.com; a job site, Jobclan.com; a classified site, Gbogbo.com; and media streaming service iNollywood.com. These projects would go on to fail because they were all ahead of their time in Nigeria.

According to Statista.com, Internet penetration in Nigeria was about 3% in 2006 compared to 42% eleven years later. With figures like these, there was little or no chance of these projects surviving, unless millions of dollars were raised to keep them long enough in the market.

Advertisement

In the case of Alarena.com, for instance, the project started around the same time OkCupid, also a dating site, started in the US. With high Internet penetration and adequate funding, the latter has gone on to be acquired by another dating company, Match Group, in 2011.

Jobclan.com and Gbogbo.com have been iterated so much in Nigeria’s startup space and, in the process, spun out companies like Jobberman and Jiji, that now thrive because of an increase in Internet penetration across the country.

iNollywood was an interesting concept Sim tried to make work even before YouTube launched in the US, something iROKOtv, would later leverage on to start as NollywoodLove.

After moving on from these projects and starting E-Motion Advertising, Sim would later give reasons why iNollywood failed in a 2010 interview.

“My first Internet startup was in 2005, iNollywood.com, which sought to distribute Nigerian movies over the Internet. Although it did quite well because we had a few Nigerian classic content, it failed for a number of reasons, most notably because at the end, the timing was not right.”

Just as Sim pointed out, and also backed by popular opinion, earliness to market is one of the reasons startups die and while it is not advisable to start a company years ahead of its time, luck and large amounts of funding could save a startup that finds itself in such a situation.

Equipped with the knowledge gotten from these failed ventures, Sim Shagaya has gone on to exit three companies he founded — the now defunct DealDey, Konga.com, and E-Motion Advertising.

Tage Kene-Okafor
Tage Kene-Okafor

Endlessly amused by technology. @ulonnaya

Advertisement


Are you in tech and you are looking at getting a foreign remote job or you want to move abroad? Fill this form and you will get the BEST resources to help you get that high paying remote job as well as japa easily! WAGMI!

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Kenya’s digital products for PwDs

Kenya’s digital products for PwDs

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses what Jumia’s partnership with CGAP could mean, and Kenya’s digital products for people with disabilities.

Reclaiming stolen African artefacts

Reclaiming stolen African artefacts

On #TechpointDigest, Victoria Fakiya (@latoria_ria) discusses how Traction wants to stop fake alerts, Canza Finance’s journey, Esaal’s $1.7m seed round, and JABU’s $15m series A.

[PODCAST] Relooting African art with NFTs

[PODCAST] Relooting African art with NFTs

What do you think about an NFT project that wants to reclaim Africa’s lost artefacts? Well, the editorial team had some interesting thoughts, and you can listen to this and other stories on today’s episode of #TechpointAfricaPodcast.

$2 million to drive learning via WhatsApp 

$2 million to drive learning via WhatsApp 

On #TechpointDigest, we discuss how major players in the African mobility space can change the mobility narrative, FoondaMate’s $2 million funding, Twitter Create, and AMP’s $5.6 million seed round.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Blockchain Explorer

Analysis oninnovation, regulations, and trends inthe blockchain sector, as it concerns Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap