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mall for africa
Cross Border E-Commerce in Africa: Mall For Africa CEO Chris Folayan (Part 6)
Sramana Mitra: Besides this bank deal, was there any other strategic moves that you made that helped you accelerate? Chris Folayan: There are many ways you can look at competitors. Who are our competitors? Competitors came to us in different forms and fashion. There were the brick-and-mortar stores and online stores that have a limited
Cross Border E-Commerce in Africa: Mall For Africa CEO Chris Folayan (Part 5)
Sramana Mitra: How much money did you raise? Chris Folayan: We don’t disclose the details, but it was a seed round. Sramana Mitra: When was this? Chris Folayan: This was four years ago. Sramana Mitra: So 2012. Chris Folayan: Yes.
Cross Border E-Commerce in Africa: Mall For Africa CEO Chris Folayan (Part 4)
Sramana Mitra: Besides selling some of your incubated projects and shutting down some others, you said the web development company’s journey was about 10 years. I take it around 2010, you moved on from it. Was the company sold or did it continue and you moved on? Chris Folayan: It continued till about a few
Cross Border E-Commerce in Africa: Mall For Africa CEO Chris Folayan (Part 3)
Sramana Mitra: What else did you do in that incubation mode? What other company or projects did you do? Chris Folayan: We were in the incubation mode throughout OCFX. We did Guru Country and we had an auto dealer’s website where dealers could create their own site for their dealerships. It’s more of a template
Cross Border E-Commerce in Africa: Mall For Africa CEO Chris Folayan (Part 2)
Sramana Mitra: You were based out in the Bay Area? Chris Folayan: I was based in San Jose. Sramana Mitra: What was the duration of the web design company? Chris Folayan: I was with it for 10 years. We worked for pretty much all the Top Fortune 500 companies in the Bay Area. We also
Cross Border E-Commerce in Africa: Mall For Africa CEO Chris Folayan (Part 1)
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We covered Mall for Africa some time back in TLEC. Here we trace their entrepreneurial journey. Sramana Mitra: Let’s go to the beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background? Chris Folayan: I’m from Nigeria.
Thought Leaders in E-Commerce: Mall for Africa CEO Chris Folayan (Part 6)
Sramana Mitra: There are two trends that are holding e-commerce back in India. India is getting a lot of investments right now. There is one major company that has emerged called Flipkart that is doing very well. Amazon has announced that they’re going to invest $2 billion. There are two major issues in Indian e-commerce.
Thought Leaders in E-Commerce: Mall for Africa CEO Chris Folayan (Part 5)
Sramana Mitra: What is the size of your customer base? How many African consumers are interacting with your mobile application to buy products from the US and UK? Chris Folayan: We have several hundred thousand customers on our platform. The amount of sales done on our mobile platform is about 52% right now. Sramana Mitra:
