Building a billion-dollar internet business from scratch in Nigeria

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In 2004 and 2005 respectively, Mark Zuckerberg and Seun Osewa each conceived an online business idea. Both so much believed in their dreams that they decided to drop out of school to pursue them.

Upon Mark’s decision to drop out of school, he sought the guidance of his university professors, who connected him to smart and talented engineers that could help birth his idea into reality. He extended his tentacles to other tertiary institutions, still in the bid to pick the smart team.

In a nutshell, Mark got the smart hands he needed, of course, thanks to the links he got from professors within the space. The support he got really paid off, as Mark Zuckerberg succeeded in founding Facebook, the largest social media empire in the world today, worth over $150b.


Mark Zuckerberg

Seun, on the other hand, had it really rough, no thanks to the fact that where he comes from, a school dropout is considered nonchalant and unserious. Nevertheless, the zealous Seun never stopped for people’s opinion. Although, he had no professors or advisers to seek counsel from, no team of smart engineers to recruit, and no major fund raising — compared to Zuckerberg who got $500,000 in angel investment in the summer of same year he started his venture — Seun Osewa still managed to create the largest Nigerian forum of today, Nairaland which has over 1.5m monthly users and ranks as the 7th most visited website in Nigeria currently.


Seun Osewa

Highlights

  • Mark Zuckerberg is a dropout from Harvard University | Seun Osewa is a dropout from Obafemi Awolowo University
  • Mark left school for Facebook | Seun left school for Nairaland
  • Mark had a community of like minds surrounding him, definitely an ecosystem | Seun was more of a lone ranger.
  • Mark immediately met a professor in his school, who linked him up to smart hands, (ecosystem in play) | Seun, on the other hand, had to virtually bear the entire weight by himself. He even self-hosted his company.
  • Mark got series of further investments | Seun doesn’t have this opportunity. He typically bootstrapped and consulted family and friends when he got stuck financially.
  • Mark got necessary support and mentorship, he scaled fast and now, he has built a social media empire that the whole world can almost not do without on a daily basis | Though Seun claims to be satisfied with what he has, we can not overlook the fact that Nairaland could have been more if he had had even half the resources at Mark’s disposal.   Continue With The Topic
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