INDUSTRY: Online advertising and ecommerce.
The online advertising market in Nigeria is rapidly growing as many more Nigerians access the internet. With the incursion of Glo 1 and MainOne submarine cables the growth of internet use and dependency in Nigeria is set to rise astronomically. Ecommerce is also being encouraged as many Nigerians have adapted to the use of credit cards and debit cards. The convenience and national access that is offered by ecommerce is leading ever more customers online.
THE OPPORTUNITY: All over the world ecommerce has proved to be a worthwhile endeavor creating billion dollar enterprises, marvels of business that dwarf brink and mortar competitors, companies, EBay, Amazon etc. Online advertising is also a powerhouse industry fueling companies like Google and Facebook whose user bases now dwarf many Television Networks and whose revenue can acquire major Radio Stations and Newspaper the world over.
Yet till today Nigeria has yet to produce a company with a locally dominant offering, talk less of global supremacy. We have identified the major reasons for this and have tackled them to create what we believe will be the foremost internet company in Nigeria in a few years and in the next 5 years a globally exportable service.
THE COMPANY: Logbaby.com is built around developing the foremost information network in Nigeria and leveraging user dependency on the information accessed to vend ads and actual products and services. It is an information driven, lead generating ecommerce platform that aims to leverage user dependency on everyday information for the sales of related goods and services.
In Nigeria today many companies exist who are trying to duplicate the success of American web brands and many will succeed, the difference and advantage of Logbaby.com is that it is carving a niche by pushing a unique custom solution, built with Nigeria and the developing world in mind. With 1st movers’ advantage and its dependency oriented strategy it can dominate the market regardless of future developments in ecommerce and online advertising in Nigeria and other emerging nations.
Logbaby.com is staffed by a network of young, intuitive and computer savvy employees. It operates a friendly work environment that encourages knowledge sharing, cross collaboration and full dedication. It has a staff strength of 25 in 3 locations, namely Lagos, Enugu and Abuja.
STATUS: ACTIVE - The project is currently in Phase 1 of a 4 Phase development strategy. This phase focuses on the development of the site as a robust information delivery system. The business is currently running with a small customer base and a massive collection of data. It has generated reasonable user traffic without any form of advertising.
SOCIAL IMPACT: In Nigeria everything you can think of exists. It has waterfalls and beaches, 5 stars hotels and cheap motels, Armani Suit Vendors and No Brand Tailors – Just about anything you can imagine is here, finding it is the problem.
Logbaby simplifies the lives of Nigerians by giving them instant access to their country. From businesses to travel information, to urgent news and all with a localized style that allows an Ikoyi resident to exhaust all options in Ikoyi before venturing out to Victoria Island.
This access is desired even needed by all Nigerians. It is needed by the custom clothing line located in an apartment which has no sign, it is also needed by the massive hotel near a landmark whose customer base is not local. This access will allow Nigerians to enjoy the many offering of this great nation with a simple search on Logbaby.com.
- Expected Returns in 2 years are set at $48million per annum on revenue of $214million
- Available is 40% Equity in the company at the nominal rate of $1,000,000
- Minimum investment of $100,000 per investor for a cap of 10 investors.
USE OF CAPITAL:
- Restructuring of the company.
- Acquisition of top level, technical, marketing and administrative manpower.
- Development of a national sales network.
- Deep development of the product lines and services.
- Mass Market Launch of the website.
CALL FOR MORE DETAILS AND/OR PHYSICAL PRESENTATION.
Tel: +234 80-5662-7992 or +234 80-3942-7102