As you may know, Big Cabal Media was one of the recipients of the N50 million from the first StartUp Dealday.
Though it was an announcement that seemed to fly under the radar but getting an eight figure inflow into your business is nothing to sniff at.
So we set out to ask the guys behind Big Cabal Media, Bankole Oluwafemi and Seyi Taylor, to tell us a bit more about this investment, at least what they are allowed to tell us.
Innovation Village (IV): Can you tell us exactly how much you got from Startup Dealday?
Big Cabal Media (BCM): As you well know, both BCM and Cafe Neo received N50m from the Lagos Angel Network.
Will this investment cause anyone to join your board? Is this investment going to change the faces on your Board?
The investment isn’t triggering any board changes at the moment.
We know a lot of companies pitched for funds at the Startup DealDay but only two of you, Big Cabal Media and Café Neo were successful. What do you think gave you that extra edge? Why do you think you were chosen as one of the recipients?
Almost 300 companies were shortlisted, and in the final pitch it came down to five, so you can imagine that it was no cakewalk. In the end, we came and showed them what we’ve been building for the past three years, and they decided that it was worth getting behind.
Now to the big question, what do you want to do with the funds? Are you going to expand your current operations, getting a new office?…
Grow. Grow. Grow. Our current focus is scaling up all our current content properties to the point that they definitively dominate their categories and have substantial competitive moats.
Are you still looking for more investors in your business?
Of course. Our vision is quite expansive and we’re always looking for new partners to join us.
What are the plans for the immediate future? Should we be expecting another online site pretty soon?
Right now, we’re doubling down on our existing properties. But there certainly other interesting content plays incubating in our pipeline.
