Jiji, the Nigerian foremost and popular classified online market place, which includes thousands of sellers and billions of users, have collected $21 million of investments from 6 company by knuru capital under C and C-1 financing. This venture was co-founded by Vladimir Mnogoletniy, presents east to west including Ghana, Uganda, Tanzania, Kenia.
At January 2018, Jiji held around 800,000 ads, over 160,000 sellers and 7 million users per months. According to Mnogoletniy, Jiji is like the combination of eBay and Craigslist. JiJi transacts purchases from cars, mobile phones, electronics, household goods, cosmetics, toys, pets, livestock, services, and recently looking for jobs through job vacancies. Alexa ranked Jiji as the 39th most visited website in Nigeria. Vehicles, electronics and real estate are three top revenues categories.
In April 2019 Jiji has made OLX a partner to business in four other African countries, Ghana, Uganda, Tanzania, Kenia where OLX users will be redirected to Jiji website.
After this new funding Jiji’s total capital has raised to $50 million in 2019 from 2014. Jiji is planning to invest in development initiatives to increase the number of sellers, buyers and the marketing platform but not to increase country nor companies, instead they want to focus on their present five.
An automated and manual verification system is employed to ensure the quality and eliminate the fraud listing ( now less than 1%).
As numbers of online markets are increasing, Jiji also faces a competitive market but they want to focus on classified business and as an advantage capital.