As the Nigerian tech value grows, OAM raises $20Mn

Before I started SPARK, I tried to work out the value of Nigeria’s internet space. I looked at the valuations of iROKO, Konga, Privateproperty, Jumia (Nigeria), Pagatech, Chekki and a bunch of others. I came to a value of approximately $200–250Mn. I predicted that value would grow before 2017 to at least $1Bn. I think I was wrong. It will get there faster.
I am in London at the moment and it’s obvious how important the internet is here. How it has almost disrupted everything. It will happen in Nigeria too, the same way mobile phones did. Globally, Nigeria is the tenth (10th) largest internet market globally. 10th Globally. It will blow past $1Bn before 2017 that I am very sure of.
This is illustrated perfectly by One Africa Media raising $20Mn from Seek at a $80Mn implied valuation. Although they have assets scattered across South and East Africa, West Africa makes up a not-insignificant chunk of that $80Mn value. Today. I believe they will do an amazing job of executing and build...