This comes with an initial angel investment of $10,000 from Gulf Pearl Limited. Shidan Gouran becomes Executive Chairman at Versamel Limited, while the LAGbook founders, Chidi and Chika Nwaogu remain on the board as the Company’s CEO/CTO.
Versamel will receive more investment over the next couple of years from Gulf Pearl Limited until Versamel reaches profitability in the nearest future.
Jamaa which will be launched very soon is a social blogging community. It will feature some basic social networking features with a prominent blogging utility for bloggers to share their articles with Jamaa users. Jamaa offers bloggers a link back to their blog thus creating traffic for bloggers who use Jamaa. Quality articles from Jamaa bloggers will be featured on the homepage of Jamaa.
Jamaa is to be the fully-moderated hyperlocal hub for Africans. It should be the place tourists to Africa visit if they want to learn about Africa and what’s happening by the minute. Jamaa bloggers are to share about their cities with focus on entrepreneurship, politics, sports, entertainment, education, technology, and similar topics. Jamaa is expected to become Africa’s number one web resource for recent happenings in the continent.
For example, a Jamaa blogger can write about a new internet startup in his city, or a new promising musician in his city. Jamaa is expected to become the top choice for those who wants developing news in Africa. To launch, Jamaa will be focusing on five cities in Africa, which are Lagos-Nigeria, Johannesburg-
South Africa, Cairo-Egypt, Nariobi-Kenya, and Accra-Ghana. For launch, Versamel will be scouting bloggers who will write articles on these cities, and feature these articles.
Befondit which will be launched later in the year will be a secured crowdfunding website. Befondit and Versamel which was named by Chidi Nwaogu, Co-founder of LAGbook mean “to fund” and “to gather” in Afrikaans respectively. Befondit is a fancy backronym for “Be fonds dit.”
Befondit will be a crowdfunding utility that will aid local entrepreneurs, musicians, and project founders to raise funds for their projects and yield profit for those who funded their projects. In a continent like Africa, Befondit is a “must need,” as most African-based projects are shut down few months after due to little or no funding to fuel its growth. Befondit is here is to solve this rising problem in Africa.
In a statement by Shidan Gouran, Executive Chairman of Versamel, “LAGbook is now a brand and service of Versamel Limited, a UK company and, soon to be, independent subsidiary of another UK company, Bazaar Media Ltd.”
Gouran added that, “Both Chika and Chidi are co-founders of Versamel and, together, we are going to offer a number of sites and services in Africa beyond LAGbook”
According to Chika Nwaogu, Co-CEO at Versamel Limited, “This is a remarkable milestone for everyone at LAGbook. We are happy to be part of Versamel. Versamel is just like the old LAGbook but this time with more funding. Same team, same dedication.”
Chika continued, “Versamel will be in charge of funding and running LAGbook, Jamaa, and Befondit. Shidan Gouran is the new company’s Chairman, while my twin and I share the C-level positions of CEO and CTO. Nothing changes except from the fact that we now have more funding to fuel our growth.”
“On the last day of 2012, we listed LAGboook on Flippa, and our motive was to sell completely to focus on our new game development company Naija Arts. But Gouran wanted to invest in the team that created and shot LAGbook to prominence. We accepted to be part of the new company Versamel, taking up stakes and remaining as its CEOs. We subsequently had to dump our plans for Naija Arts. Versamel is like what we had before but with a fresh energy and increased fund to propell its growth”, says Chidi Nwaogu, Co-CEO at Versamel.
Nosa Ilegbinehi and Josh Osewmegie will remain and assist Chidi and Chika respectively to take Versamel to greatness.
“We have a list of milestones to be reached within this year and the next, and they are remarkable ones. This wouldn’t come so easy, but there is a saying that nothing good comes easy, so we are well prepared for the challenges and the bumpy roads on our way to reaching all milestones,” says Nosa Ilegbinehi, PA to Chidi Nwaogu at Versamel.
“One of our numerous milestones is to reach the 2 million member mark at LAGbook by year-end,” says Josh Osemwegie, PA to Chika Nwaogu.
LAGbook is one of Africa’s fastest growing, largest, and leading social networking utility with over 850,000 registered members. LAGbook initially kicked-off as an exclusive social network for students of the University of Lagos on the 25th of April, 2010, and has since then expanded and continued to grow. LAGbook is most popular in the United States, Nigeria, United Kingdom, India, Philippines, Ghana, and South Africa.