Arrogance can be expensive – Konga vs Jumia part1

Remember Konga Express? A rumoured N2.9B ($18m investment)

Bastian and I were heading on our way to the Konga offices in Yaba. It wasn't a frequent thing, we had only been there a handful of times. We were trying to figure out how to buy billboards across Lagos as it was proving a challenge, so we needed some guidance from Sim and his marketing team. We used to do this a lot. It's interesting how unsure of ourselves we were then. Not outwardly, of course. We were IROKO. We were crushing it. But that was to the media. Internally and collectively the general feeling was. We have money. Now WTF do we do? So whenever we had a problem at IROKO, we just reached out to Sim and Shola at Konga. Because those guys had all the answers right?

Back to billboards. The problem was a weird one. A supply issue. There was simply so little inventory around and any that was left just seemed so damn expensive. We were running billboard campaigns in London as part of our annual marketing budget of $...

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