Yudala Attracts $70m New Investment, Ignites eCommerce War

The raging e-commerce Nigeria just got a little more intense overnight with the nearly $70 million investment in Yudala, Nigeria’s first true composite online and offline retail chain by a group of foreign investors.

The capital injection is expected to bolster the company during this yuletide when shopping mania hits Nigeria.

With the investment, Yudala, has eclipsed all rivals.

Also at the just ended Nigerian Economic Summit in Abuja, a London based investment banker told Nigeria CommunicationsWeek that his clients have asked him to look at the possibility of investing in the Nigerian grown eCommerce giant.

“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” the banker added.

In just few weeks of launch, Yudala has set up 14 stores across the country and is planning more before the end of the year.
 
With that vast e-commerce empire, Yudala is offering Nigerians wholesale, retail, group buying, and payments as well as warehousing.

The company focuses on helping people buy a vast variety of products at low prices without stepping into a store.

Today, it has 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 icing on the cake is the launch of Yuboss, a scheme of league of emerging entrepreneurs who want to be their own bosses.

Sam Ojo, chairman of Yudala, said that through Yuboss, “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”