Price Check

Monday, August 19, 2013

$2million raised by Spark Internet Group

Jason Njoku, Bastian Gotter and Mary Remmy-Njoku launched Spark, the Lagos-based Internet Group that invests in Nigerian start-ups, a few months back. (If you missed it, read it HERE). They launched with a $1m investment fund and have just announced that due to huge interest in their company, they have secured another $2million from a pool of 17 international high net individual investors, based on a $10m valuation for the three month old company. It seems that the world now firmly has its eyes on Nigeria for exciting Internet companies to invest in!

Spark companies employ 130 people across the nine launched companies in Lagos, three of which have already secured second-round seed investments totaling an additional $700k from Njoku and Gotter. Continue...


Spark’s goal is to revolutionize Nigeria’s angel investment eco-system, focusing on the country’s Internet startup scene.  
In an official press release, Jason Njoku of iROKOtv fame says: “Every Spark company we have invested in already generates revenue which we feel is essential to the survival of any Internet start-up in Nigeria. Bastian and I were impressed with their output, as were our investors, hence we have been able to raise the sum of $2m in nine days. We expect to raise more money in the coming months to cement Spark as one of the preeminent Internet groups in Nigeria and Africa.” 

Njoku and Gotter will use the $2m to expand the company’s offices, initially in Lagos, before opening Spark hubs across Nigeria. The investment will also provide further follow-on rounds of seed-investments for Spark companies.

To-date, Spark has invested in some of Nigeria’s most exciting Internet startups including hotel room booking site, hotels.ng the undisputed leader in hotel room booking service in Nigeria; bus.com.ng; Nigeria's number one bus ticketing website and ToLet.com.ng, who are revolutionising the customer facing lettings space in Nigeria. 

Bastian Gotter, Spark Managing partner adds: “Spark companies now have the capital behind them to invest in technology, good staff, building out their inventory – whatever is required to make them into a stronger long-term business. Jason and I have previously been vocal on the shortcomings of Nigeria’s business eco-system and how investment does not reach the right people. With this additional investment of $2Mn, we are now able to channel even more funds to the companies who will one day lead the continent’s Internet space.”   

Congratulations to these guys making big moves in the Internet world and attracting international investment - we hope their companies go on to make Nigeria proud and put us on the map for new, cool internet companies. 
Check out the businesses they have invested in so far: Hotels.ng, Christians.com.ng, Bus.ng, Giddimint.com.ng, Borro.com.ng, Insured.ng,  ToLet.com.ng, Foto.com.ng,  and Drinks.ng

42 comments:

Anonymous said...

Hmmm. Am I the first?

Anonymous said...

1st to comment again...flips hair,raises eye brow and walks away haters starts lamenting

alluring belle said...

I sorry for u.

Anonymous said...

Ur a fool...ur 2nd idiot!!!

Anonymous said...

Miss "flips hair,raises eye brow and walks away".....go bank na go tell dem say u comment first for blog make dem give u money.....mtcchheewwwwwwwwww

Anonymous said...

All I need from them is just 1 million naira only!

Anonymous said...

Congratulations to them ..

olumide samuel said...

That's a good thing to do. Investment in start-ups is needed if we must compete..

alluring belle said...

They have done well. They really know how to invest

rutchie.com said...

This people are spoiling success stories Ooo, just start your online site and they come and invest. Good for those looking for investors for their new websites. The success story is meant to be "IT ALL STARTED WITH AN IDEA. I HAD NO MONEY, I STARTED IN A GARAGE, AND FINALLY, I NEVER THOUGHT I WOULD GET THIS FAR". But these investors have come so it's going to be "IT ALL STARTED WITH AN IDEA AND AFTER 2 DAYS INVESTORS STARTED PUTTING THEIR HEADS IN MY BUSINESS". It's a very good idea but power supply will still be a problem.

Anonymous said...

Hahahahaha

Anonymous said...

Mumu, first to comment and so

Anonymous said...

Dont mind her. her mates are coming up with wonderful ideas to attract VCs she is here "flipping hair, rolling eyes, first to comment"
Mcheeeew

Anonymous said...

Dhdhjjhbgxhdhhdkalalaagdge* keep flipping ur *short hair* lmao

Anonymous said...

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Anonymous said...

All of U are idiots..instead of reading the post
y'all are bothered about the Anon thats flipping
her hair.

Admiral said...

Y u guyz alwayz beefin any1 whoz 1st??? It ain easy u knw

Admiral said...

y una dey beef 1st na

Lex Macquin said...

Dude/Bimbo! Pls by how much did ur life get better(and dats if it even did In d 1st place) by being d first to comment?

Anonymous said...

Admiral u dey kolo ooo I no expect dis kind talk frm u e b lik say I demote u to recruit....

queendarlin udenze said...

MUMU @ second to comment.

Adanna Kristie said...

Good, U guyz kip it up

Hajjo said...

Nawa o....rotflmao! Linda is mking money, u r here rushing to comment 1st. If u like dnt jst contribute ur quota in form of a sensible comment, tk a cue frm Lindiway n start smthng meaningful. Ode *flips hair, rme, wlks away* lol

Anonymous said...

Y'all just acting swallow smh ....

Anonymous said...

Una no dey sleep

Anonymous said...

Choose right Α̲̅πϑ Ɣ☺u will live right. Good ideas produce good results.

Anonymous said...

Una no dey sleep

Anonymous said...

Why won't they beef them? Is just been childish. A reasonable someone will just type in 'first to comment' and walk away. What an idiotic comment.

Anonymous said...

Wht is dis first to comment thing,u all shud grow up abeg..make comment n stop running after first to comment..abi linda is giving u pple prize for it..

Anonymous said...

Nice

Anonymous said...

Linda dis ur post no carry water na dats y pple lv comment way dem suppose make dey attack thmselves.

Peter Linus said...

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IhateSlowBitches said...

anon #1 the stupid retarded immature foolish short yellow bus riding BITCH. Grow the fck up for once and stop commenting "Am first - am First" - u retarded idiot. I hate all the bitches who be writing - I am first I am first, what the fck do you want, an Oscar. You are retard to the gajillionth degree.

Anonymous said...

Why have FFK and FASHOLA not come to tell them to take their investment away since they are Ibos and Lagos is for the yorubas?

Anonymous said...

Linda I Jst dy look u oooo.. I neva see my comments ones ooo

Ayo Badejoko said...

Great Concept.

Anonymous said...

I'm sure u meant shallow dear,not swallow....thank me later

Anonymous said...

this is good. thumbs up guys.

Anonymous said...

Mary remmy is such a lucky gal

Anonymous said...

Ure either confused or mad.ur name says u hate slow bitches and ur beefing fast commentators..ewu gambia I laff in isoko language

Anonymous said...

Bia,dont start a tribal war here oooo ewu gambia!!

Anonymous said...

see how life is. Mary Remmy of yesterday.Nne biko thumbs up jare!