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Konga | Company profile, Business Model, and Operations

Recieved Funding?
yes
Type of Funding
Venture capital, Series A Funding, Series C Funding, Seed funding, Acquisition
Number of Funding Phases
4
Business Type
Acquired/Merged, Private Company

All you need to know about Konga

About Konga

Konga.com is a leading name in Nigerian e-commerce, offering a convenient and diverse online shopping experience. Founded in 2012, Konga has grown from a small startup to a major player in the country's digital marketplace.

It offers a third-party online marketplace, as well as first-party direct retail spanning various categories including consumer electronics, fashion, home appliances, books, children's items, computers & accessories, phones and tablets, health care, and personal care products.

The company also has a logistics service (EXPRESS), which enables the timely shipment and delivery of packages to customers.

Our History

Konga's story began in July 2012 with Sim Shagaya's vision of bringing a reliable and robust e-commerce platform to Nigeria. Starting small with a team of just 20 people, Konga initially focused on Lagos, offering products in the baby, beauty, and personal care categories.

By December of that same year, recognizing the vast potential, Konga expanded its reach nationwide. This period also saw a continuous addition of new product categories, catering to the evolving needs of Nigerian consumers.

This strategic move might have been influenced by the emergence of a major competitor, Jumia, which launched around the same time. Early recognition of the market and swift action proved crucial in Konga's journey.

Fueled by ambition and a commitment to growth, Konga secured a significant investment of $10 million in Series A funding in early 2013. This financial boost from Investment AB Kinnevik and Naspers provided the resources needed to further solidify Konga's position in the Nigerian e-commerce landscape.

The site initially functioned as a Lagos-only online retailer focused on merchandise in the Baby, Beauty, and Personal Care categories, but broadened its scope to all of Nigeria in December 2012 and gradually expanded merchandise categories through 2012 and 2013. 

This expansion may have been a response to Konga's major competitor, Rocket Internet-backed Jumia, which launched around the same time.

Konga officially launched its third-party retail platform in the first half of 2014, rebranding it as 'Marketplace' from 'Konga Mall'; by the end of 2014, Konga's Marketplace featured 8,000 merchants, beating internal targets of 1,000 merchants eight-fold. Konga was reportedly valued at approximately $200 million as of Series C.

In January 2015, Konga was ranked as the most visited website in Nigeria by Alexa Internet.

Konga announced it acquired the assets and mobile money license of Internet Nigeria Limited in June 2015, thereby meeting the Central Bank of Nigeria's legal requirement for the provision of mobile payment services.

Two months after laying off over half of its staff, Konga was acquired by Zinox, a Nigerian firm that manufactures and distributes computers

Our Vision

  • To be a powerful force for the Economic Growth of Africa
  • To connect Africans and the rest of the world through Technology & Commerce.
  • To be a company that employees, customers & society are proud of and depend on.

Our Mission

To be the Engine of Commerce & Trade in Africa. This reflects their unwavering commitment to customer satisfaction. They strive to provide a user-friendly platform, a vast selection of products from trusted brands, and efficient delivery services. 

Essentially, Konga aims to empower Nigerian consumers with the freedom and flexibility to shop online from the comfort of their homes.

Our Core Values

Several core values guide Konga's operations and decision-making processes. These values ensure a strong foundation for the company's growth and success.

The customer sits on the throne: Satisfied customers are essential to our success. There are no kings in Konga… Only servants of the customer.

Hardwork: We embrace hard work. We understand that it is only through pushing ourselves beyond our limits of comfort that we become better as individuals and as a company.

Honour & Integrity: We are open, honest, and trustworthy in all our dealings.

Teamwork & Sacrifice: We work together disregarding personal interests to meet the needs of our customers and to build a stronger company.

Passion: We are passionate about our brand and our mission.

Constant Evolution: We always question the norm looking for opportunities to birth new ideas. As individuals, we embrace flexibility and rapid change.

Our Services

Konga caters to a wide range of consumer needs through its diverse services. Here's a glimpse into what they offer:

Extensive Product Selection: From consumer electronics and fashion apparel to home appliances, books, and healthcare products, Konga boasts a vast catalog to satisfy various customer requirements.

Marketplace Model: Konga functions as a marketplace, allowing other businesses to sell their products alongside Konga's retail offerings. This approach fosters a wider product variety and caters to niche markets.

Logistics Solutions: Konga's in-house logistics arm, Konga EXPRESS, ensures efficient and timely delivery of products to customers across Nigeria.

Secure Payment Options: Konga prioritizes secure transactions, providing various payment options including KongaPay, debit cards, bank transfers, and vouchers.

Our products include;

Konga Marketplace

Konga started its massive expansion in Nigeria with Konga Mall, which is a revolutionary option that allows businesses in Nigeria to showcase their products online. Business owners were offered a free and simple delivery service. 

The business owner packages an order that is accompanied by SellerHQ details and details of the order before dropping the parcel at Konga's dropoff center.

KongaPay

Kongapay is a CBN-licensed platform through which users can enjoy seamless, secure, and reliable transactions. Users can conveniently receive money, make payments, airtime purchases, and more with the aid of a mobile number only. Sign up Today for more.

KXpress

This state-of-the-art technology-inclined logistics system is focused on providing a prompt and efficient customer experience by conveying packages from one end of the country to another. With a fleet of over 1000 vehicles; and warehouses distributed nationwide, businesses can enjoy sophisticated logistic plans for both B2B and B2C.

Konga Travel & Tours

Konga Travel & Tours is a technology-driven, customer-centric, and highly innovative travel agency established with the sole aim of offering the best travel deals and package prices to all categories of travelers. Within a short time, this travel arm had expanded tremendously to cover multiple facets of the travel and tour industry.

Konga Health

A digital healthcare subsidiary of Konga Group set to offer access to quality Medicare to Millions of users across the globe as well as revolutionize the healthcare value chain in Nigeria.

Konga Self-Fulfill Model

Self-Fulfill Model was a major upgrade in Konga's marketplace offer. This service made it possible for its merchants to have great shipping agreements negotiated by Konga with reputable courier partners. 

The sellers control the management of their parcels from the point of order till the customers receive them. Payments are made directly to the sellers from the buyers when they receive their parcels.

Our Business Model

Konga's business model revolves around a combination of approaches:

Marketplace Commission: Konga earns a commission on sales made by third-party sellers on their platform.

Direct Retail Sales: Konga also functions as a direct retailer, selling its inventory and profiting from the sale of these products

Value-Added Services: Konga might offer additional services like extended warranties or installation support for certain products, generating extra revenue.

Our Teams

Konga's achievements are driven by a team of talented and dedicated professionals. The company employs individuals with expertise in various fields, including 

e-commerce, logistics, marketing, customer service, and technology. 

Related Topics


Industry

Leo Stan Ekeh
Sim Shagaya

Konga
Business Model

The Company major services and product include: Internet Retail, Logistics

The Company was Founded
The Company was established on
July 11, 2012
HeadQuarters
The Company has its Operational Headquarters at 3B Cocoa Road, Off Akilo Road,Ogba, Lagos, Alausa district 101233, Nigeria
Industry
The Company is contributing to the development of the Industry E-Commerce, Logistics
Staff Strength since Inception
The Company prides in her team member of about 501 - 1000 active members

Konga Business Model

The Company major services and product include: Internet Retail, Logistics

yes
Have they recieved Funding from VCs
yes
Have they recieved Funding from VCs
yes
How many number of Funding rounds?
billion
Company Net worth as of 2023

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