On Wednesday afternoon, Nigerians took to Twitter to share their relationship heartbreak tales.
— Victor Babatunde (@vhic_tore) November 11, 2020
That acquired us questioning…
Startup founders should have lots of investor heartbreak tales too.
— Techpoint Africa (@Techpointdotng) November 11, 2020
Startup founders from throughout Africa had loads to share
Your concept is nice however…
Your concept is nice however I do not suppose it is the appropriate time. Earlier than lengthy you hear that they’ve assembled a workforce and bringing you in as a advisor for the very concept you introduced to them. 😭😭😭 https://t.co/zX2Py4dFiW
— Ronald R. Ochoo (@IamROchoo) November 12, 2020
— Abdimalik Othman (@AbdimalikOthman) November 11, 2020
FarmCrowdy founder and CEO, Onyeka Akumah, had an analogous expertise
Considered one of them mentioned our concept was horrible, assembled his youthful brothers and launched the identical concept 6 months later with our pitch deck and IM in hand. #heartbreak https://t.co/br79PKaOwl
— Onyeka Akumah (@onyekaakumah) November 11, 2020
“We are going to put in $ X00,000 in case you cut back the valuation to 1/3”
Me: “we might be in contact.” https://t.co/aakE2GEuVe
— Angel from Africa (@StoneAtwine) November 11, 2020
Somebody provided $30k into ma start-up for 40% and so they’d should dictate the right way to run the start-up.. They anticipated 50% ROI in 6 months … Bought me loopy with as much as the roof calls for… https://t.co/Ly398zAnKK
— Nana Kwame🇬🇭🇬🇧 (@dev_nanakay) November 12, 2020
1/2. Am from Kenya and the story remains to be the identical. We approached some traders and we requested solely $8000 for 25% Fairness. They mentioned the concept is not prepared. Anyway, we acquired the concept working. In the present day we have now a number of customers around the globe with the identical Concept that is not working@StockApp pic.twitter.com/ycOlAeK9o9
— Ken Gitonga (@KenGitongah) November 12, 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 finest, you are price 1/tenth your asking valuation. we’re prepared to put in writing a $50k cheque in case you concede.”
narrator: they did not concede. https://t.co/z2eVe7Oxua
— Ezra ‘God’ Olubi (@0x) November 11, 2020
Simply handle this cash… on your cab
I advised him about my Leathercrafts and Basic Style Design enterprise, Man advised me to make a proposal. I up to date the one I had earlier with my workforce, working 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) November 11, 2020
Money or type?
One mentioned 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 mentioned i mustn’t have a look at the cash however i ought to give attention to the community he’s bringing on board https://t.co/7VrLzsp5vv
— Tunde Kelani (@iamtundekelani) November 11, 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 companies
Daniel : What??? How??? https://t.co/TEAD1RlFXt
— DANIEL E. AUDU (@EshekofLagos) November 12, 2020
Him: Oh yea… See that $18k? I want $15k out of it for one thing. Don’t be concerned I will carry it again, we’re all companions.
Me: how about I am going one higher and simply let you will have the $18k until you are prepared?
Me: slams door shut on his raggedy ass. https://t.co/8z0wDxp0zq
— Dorian Grey (@HayesLikeIssac) November 12, 2020
I used to be COO at a web-based radio station in Lagos and we had been provided a $5 million greenback funding to develop our firm. Proper earlier than the deal, the CEO stole our working capital from our account and ran away to construct a bungalow in Nnewi. Every thing died after that. #heartbreak https://t.co/hb0Ycl3C6m
— Okay.obi (@LadyKrysMD) November 11, 2020
1. You might be too bold
2. You lack ambition https://t.co/l3OuTuCLS8
— Saudat Salami (@SaudatSalami) November 11, 2020
By the way in which, that was Easyshop Easycook founder/CEO, Saudat Salami
Buyers 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) November 11, 2020
Traveled to Abuja from Lagos for a pitch competitors. Gained 10m. Requested me to submit each doc below earth then ghosted. https://t.co/lVorGYPaSU
— Nwa Tech 🎨🚀 (@oke_alusi) November 11, 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) November 11, 2020
The gods are to not blame 🤷🏽♀️
Was provided 2m for 50% stake within the enterprise. I will step down from my position as CEO for his son. One sizzling Sunday Afternoon. The craziest factor was I will should swear to Ogun that I will not betray him.
— Lawal Keny (@kenyhuyter) November 12, 2020
Learn extra heartbreak tales, and share yours, right here. Don’t overlook to share along with your startup founder pals and quite a few WhatsApp teams.
Oh, and you need to completely learn this too.
Yeah, we all know; traders’ lives matter too…
— Techpoint Africa (@Techpointdotng) November 12, 2020
Native investor? Please share your heartbreak story right here.
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 right here.
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