Konga underperforms, investor’s Kinnevik report shows Konga is worth $34M with 184k active customers

Konga underperforms, investor’s Kinnevik report shows Konga is worth $34M with 184k active customers

Read page 9 of Kinnevik market report to understand the state of Konga.com

Konga, founded in 2012, is one of the largest general merchandise marketplaces in Nigeria and ranks as one of the top ten websites in the country.

KongaPay, Konga’s payment solution, introduced ”me-Commerce”, a feature providing a gateway for customers and entrepreneurs to sell products locally and internationally. It gives users a safe and seamless payment experience via mobile without the need for bank transfers

Konga’s push towards mobile continued to increase with over 80% of visitors from the app and mobile web

Effcient marketing, focused on the most attractive channels, resulted in all-time high conversion rates and acquisition of high quality customers

From the data on the investor’s report, it seems Konga is worth only $34 million.

konga data

This is indeed troubling for all the noise, Konga is just valued at $34 million only. Its major competitor, Jumia, has the parent valued close to $1 billion.

Konga has raised nearly $78 million and it has a valuation of $34 million which means that the company is seriously under-performing. E-commerce is not a great business in Africa  and will take time to be profitable. The same trajectory shown by Konga is similar to what Jumia has recorded – lots of losses.

Hope you saw that Konga has only 184,000 active customers. That is in a country of 173 million people. It does not look really good.

 

 

 

 

 

 

Share this post

Post Comment