There are reports online that the online Classifieds company, Efritin.com, has shut down operations in Nigeria.
Muyiwa Matuluko of Techpoint.ng first reported the closure, stating that it got tipped off by an unexpected comment posted on an outdated article about Efritin. He went further to say that upon further investigation, he found out that the company actually shut down operations yesterday even though its website is still up.
The second report came from Techmoran stating that closure may have been due to funds mismanagement by its pioneer CEO, Zakaria Hersi and the company has not been able to raise further investment to scale the business. The report also mentioned the company also had 10 court cases in Nigeria which could cost it up to N20 million in fees
Gbenro Dara, former Co-founder and chief operations officer of online auto insurance marketplace MyAutoGenius.com, took over from Zakarai in May 2016.
Saltside Technologies, operators of Efritin.com, launched the platform in Nigeria in 2015.
No official statement has been made by the company.
Image credit: Techcity
