Africa’s fastest growing social network LAGbook today received an initial investment round of $10,000 from the Canadian Company Gulf Pearl headed by Shidan Gouran, a Canadian Entrepreneur (owner of tambay.ph).
New Executive Chairman
Speaking to TechMoran, Chika Nwaogu Co-founder at LAGbook said, “This investment comes with Shidan becoming the Companies Executive Chairman and the company being re-registered in UK as Versamel Limited (RC 08392806).”
Co-founders Intact As CEO/CTO
He added, “My Twin and I remains on the board as CEO/CTOs. Josh Osemwegie and Nosa Ilegbinehi remains on the teams as PAs (Personal Assistants) to Chika and Chidi respectively and will still be actively involved in the new company.”
Trading As Versamel
LAGbook now re-registered as Versamel will be in charge of brands like LAGbook.com, Jamaa.com; a hyperlocal site for Africans (to be launched soonest this month) and Befondit.com (a sought of funding platform for Africans) to be launched thereabout May this year.
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Funding Solves Financial Crisis, Enables African Expansion
“We were going through financial crisis before this angel investment came in as LAGbook was growing too rapidly for us to handle. But after receiving this investment we are expected to grow double we did in the past,” he added.
