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LAGbook Raises $10,000 In First Round For African Expansion | To Launch Jamaa.com & Befondit.com

Milcah Lukhanyu by Milcah Lukhanyu
8 years ago
in Startups
3 min read
0
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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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“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.

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Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

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