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  Jiji.ng has, for nigh on a decade now, slowly crept into the consciousness of the public, gradually rising into dominance in an industry where it had, by no means, the first-mover advantage.
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The company has grown quickly in under a decade but it would seem that the company keeps a rather low profile and as such, not much is known of the company, outside a few details and increasingly prominent personalities. Only recently, the company closed a deal to acquire Cars45 and through that deal, it may have expanded its business significantly. Since 2014, Jiji.ng has come to cement its position as the number one platform in classified ads in Nigeria, but the company’s presence is shrouded in as much mystery as you probably perceive and, although, this may be changing as the company grows in market share and value, there is still a lot to know yet. So who or what owns Jiji.ng? Is the company even Nigerian in the actual sense? Jiji.ng is owned by a Ukrainian based company called Genesis Technology Partners. The company may not have much of a reputation globally but they are one of the biggest deals in Ukrainian tech. According to its LinkedIn page, they have a presence in nine countries and their products serve around 200 million users every month. They are one of the biggest partners of big tech (Facebook, Google, Apple etc.) in Eastern Europe. Genesis specialises in mobile app development, digital media, e-commerce (classified ads). Based in Kyiv, the company seems to make a lot of revenue outside of the Ukraine which explains its focus on international markets.
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It was founded by Vladimir Mnogoletniy, an advertising professional of Russian extraction and Anton Volyansky who now heads Jiji globally. Away from these two, less known personalities with alleged stakes in these businesses include a Greek businessman by the name, Georgios Vlachou (who has tech business interests in East Africa including Tuko.co.ke) and Vital Laptenok who is head of growth at Genesis. Jiji.ng seems to be one of the company’s more popular products but you will be interested to know that they also own popular gossip blog Naij.com. Only two years ago, the conglomerate made major leaps to become a serious tech player in Africa when it acquired Naspers owned OLX’s classified ads business. That same year, Jiji raised $21 million in VC funding from its Series C round. The round was led by Knuru Capital (a Saudi VC firm) who is little known yet but an eager investor in emerging market start-ups. Jiji now has a commanding presence and market share in five African countries including Tanzania, Ghana, Kenya and Uganda in addition to its Nigeria business. In 2021, Jiji.ng has now added Cars45 to its growing business in the light of its growing cars listing business. The value of the sale is unknown but it has happened in interesting circumstances as Cars45 (formerly owned by Etop Ikpe) has changed ownership for the second time in two consecutive years now. Jiji.ng top execs have indicated the acquisition may not be the last as the company seeks to strengthen its business as it vertically integrates into Africa’s budding e-commerce industry. Do leave comments as to what company’s you would like to know more about, as this is a new segment. Featured Image Source: Jiji.ng
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This article was first published on 5th July 2021

david-okwara

Some call me David. Others, Emerie. Others, (unfortunate fellows) Biggie. I like to think that I have sense and that is why I write too. Otherwise, I draw and paint and sing (in the bathroom) and love to make people laugh. I love to understand how things work and that’s why I love DIY videos and YouTube of course. Follow me on Twitter @EmerieOkwara

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