On Wednesday afternoon, Nigerians took to Twitter to share their relationship Herzschmerz Geschichten.
— Victor Babatunde (@vhic_tore) 11. November 2020
That bought us questioning…
Startup founders should have numerous investor heartbreak stories too.
— Techpoint Africa (@Techpointdotng) 11. November 2020
Startup founders from throughout Africa had quite a bit to share
Your thought is nice however…
Your thought is nice however I do not suppose it is the proper time. Before lengthy you hear that they’ve assembled a workforce and bringing you in as a advisor for the very thought you introduced to them. 😭😭😭 https://t.co/zX2Py4dFiW
— Ronald R. Ochoo (@IamROchoo) 12. November 2020
— Abdimalik Othman (@AbdimalikOthman) 11. November 2020
FarmCrowdy founder and CEO, Onyeka Akumah, had an analogous expertise
— Onyeka Akumah (@onyekaakumah) 11. November 2020
“We will put in $ X00,000 if you reduce the valuation to 1/3”
Me: “we will be in touch.” https://t.co/aakE2GEuVe
— Stone (@StoneAtwine) 11. November 2020
Someone supplied $30k into ma start-up for 40% they usually’d should dictate methods to run the start-up.. They anticipated 50% ROI in 6 months … Got me loopy with as much as the roof calls for… https://t.co/Ly398zAnKK
— Nana Kwame🇬🇭🇬🇧 (@dev_nanakay) 12. November 2020
1/2. Am from Kenya and the story remains to be the identical. We approached some buyers and we requested solely $8000 for 25% Equity. They stated the concept is not prepared. Anyway, we bought the concept operating. Today we have now a number of customers world wide with the identical Idea that is not working@StockApp pic.twitter.com/ycOlAeK9o9
— Ken Gitonga (@KenGitongah) 12. November 2020
Even Paystack co-founder, Ezra Olubi, had an analogous story from the earliest days of the 200-million-dollar firm
whereas elevating seed spherical: “at best, you’re worth 1/10th your asking valuation. we’re ready to write a $50k cheque if you concede.”
narrator: they did not concede. https://t.co/z2eVe7Oxua
— Ezra ‘God’ Olubi (@0x) 11. November 2020
Just handle this cash… on your cab
I advised him about my Leathercrafts and General Fashion Design enterprise, Man advised me to make a proposal. I up to date the one I had earlier with my workforce, operating to about N800,000-N1,000,000. After a lot merry-go-rounding, man gave me N5,000. https://t.co/BU5MuNpKMa
— LEKE CALEBS (@CalebsLeke) 11. November 2020
Cash or type?
One stated he’ll give me 2million to get 24% fairness. This was a enterprise we had invested over 7m
I wan cry
This was after so many conferences for 2months and so many doc alternate.
Baba stated i mustn’t have a look at the cash however i ought to deal with the community he’s bringing on board https://t.co/7VrLzsp5vv
— Tunde Kelani (@iamtundekelani) 11. November 2020
Proposed Investor 1, 2015: Daniel, I’ll go straight to the purpose give me 50% of this firm.
Daniel : Sir????
Proposed Investor 2, 2019: Take $400k, however not in money, in providers
Daniel : What??? How??? https://t.co/TEAD1RlFXt
— DANIEL E. AUDU (@EshekofLagos) 12. November 2020
Him: Oh yea… See that $18k? I would like $15k out of it for one thing. Don’t fear I’ll deliver it again, we’re all companions.
Me: how about I am going one higher and simply let you’ve gotten the $18k until you are prepared?
Me: slams door shut on his raggedy ass. https://t.co/8z0wDxp0zq
— Dorian Gray (@HayesLikeIssac) 12. November 2020
I used to be COO at a web based radio station in Lagos and we had been supplied a $5 million greenback funding to develop our firm. Right earlier than the deal, the CEO stole our working capital from our account and ran away to construct a bungalow in Nnewi. Everything died after that. #heartbreak https://t.co/hb0Ycl3C6m
— Okay.obi (@LadyKrysMD) 11. November 2020
1. You are too bold
2. You lack ambition https://t.co/l3OuTuCLS8
— Saudat Salami (@SaudatSalami) 11. November 2020
By the way in which, that was Easyshop Easycook founder/CEO, Saudat Salami
Investors ghost too?
Please I’m nonetheless therapeutic from the one which ghosted me after it was time to current share holder’s buy and SHA😭😭😭 https://t.co/sA0Rdywt6h
— Nail Tech & MUA in Abuja (@biodunkayodee) 11. November 2020
Traveled to Abuja from Lagos for a pitch competitors. Won 10m. Asked me to submit each doc underneath earth then ghosted. https://t.co/lVorGYPaSU
— Nwa Tech 🎨🚀 (@oke_alusi) 11. November 2020
Et tu, Odun (Piggyvest co-founder/COO)?
lmao one in every of them gave us LOI and ghosted until date 💀 https://t.co/sIlGiKvcRu
— Tech Bro (@OdunEweniyi) 11. November 2020
The gods are to not blame 🤷🏽♀️
Was supplied 2m for 50% stake within the enterprise. I’ll step down from my function as CEO for his son. One scorching Sunday Afternoon. The craziest factor was I’ll should swear to Ogun that I will not betray him.
— Lawal Keny (@kenyhuyter) 12. November 2020
Read extra heartbreak stories, and share yours, genau hier. Don’t overlook to share together with your startup founder buddies and quite a few WhatsApp teams.
Oh, and you must completely lerne das Auch.
Yeah, we all know; buyers’ lives matter too…
— Techpoint Africa (@Techpointdotng) 12. November 2020
Local investor? Please share your heartbreak story genau hier.
Report: Millionaire West African startups” raised over $1.806 billion between 2010 and 2019, 97.9% of which went to Nigerian startups. Get a free overview and 50% buy low cost genau hier.
NEW EPISODE OUT! Built in Africa, a podcast by Techpoint Africa
Every midweek, we collect across the water dispenser for decent gist concerning the challenges of constructing and scaling a startup in Africa.