Thursday, 28th March 2024
To guardian.ng
Search

Yudala Sets for Yuletide Shopping Craze with $70m Investment

By Bankole Orija
22 October 2015   |   10:42 pm
YUDALA, Nigeria’s first true composite online and offline retail chain has turned the beautiful bride as it got nearly $70 million investment by a group of foreign investors.

YUDALA-officeYUDALA, Nigeria’s first true composite online and offline retail chain has turned the beautiful bride as it got nearly $70 million investment by a group of foreign investors.

The capital injection is expected to cause an upset with the company’s rivals and bolster it during this yuletide when shopping craze hits Nigeria.

The investment is fallout of the just ended Nigerian Economic Summit in Abuja, where a London based investment banker indicated the possibility of investing in Yudala.
“The management of Yudala has been stonewalling us, my clients are too eager to invest that eCommerce platform. I believe that are Nigerian version of Alibaba” London based investment banker added.

Yudala has in just few weeks of launch, offering Nigerians wholesale, retail, group buying, and payments as well as warehousing, the company has set up 14 stores across the country and is planning more before the end of the year.

The company, focuses on helping people buy a vast variety of products at low prices without stepping into a store, built up a massive customer base and data infrastructure and has emerged as the dominant player in the market.

Yudala is a movement in e-commerce and offline retail business orchestrated by distinguished professionals from various nationalities and spheres of business.

Only recently, it reportedly acquired few drones and is working with partners in Asia to develop and deploy these Integrated Drones to avoid vehicular traffic in major cities in Nigeria.

The launch of Yuboss, a scheme of league of emerging entrepreneurs who want to be their own boss is the icing on the cake of Yudala.

Sam Ojo, chairman of Yudala, said that “we are offering people a chance to become millionaires without investing a dime. We have test run the scheme for one month and I can confirm that a young lady, one Mrs. Tina George who stays close to our office was paid over a N100, 000 commission (dala) last week for a 10 day effort in selling from our inventory. Her only investment was her commitment. This is the way new economies are built”

0 Comments