- Real estate mogul and businessman, Dr Stephen Akintayo, has expressed interest to acquire Nigerian internet forum Nairaland for N1 billion
- The Olabisi Onabanjo University, Ago-Iwoye graduate hinted that he had the wherewithal to take the platform to an enviable height in less than 10 years
- Stephen spelt out how he desires to fund the acquisition, stressing that the nation cannot continue to fold its hands and watch foreigners acquire buy all tech businesses
In the wake of the world's richest man Elon Musk's acquisition of social media giant Twitter for a staggering $44bn, a Nigerian businessman is set to tow similar lines with a local platform.
Dr Stephen Akintayo, a realtor, has openly offered to buy Nigeria's leading internet platform Nairaland for N1bn.
Nairaland is a leading Nigerian internet forum that was founded by entrepreneur Seun Osewa on March 8, 2005 and is one of the top 6 most visited websites in the country.
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Stephen roared that he means business and is not chasing clot with his intention.
"Base on this! I Am Ready to pay 1Billion Naira 20% Cash 80% Land to Buy @nairaland
"100% . Guys let’s do this! I know what I can turn this site to in less than 10Years. I Mean Business! We can’t keep waiting till foreigners buy all our tech business . #twittertakeover."
Stephen responds to why he'd rather buy Nairaland than build a platform from scratch
When countered by a netizen that his offering price was more than enough to build a platform that would beat Nairaland in no distant years, Stephen replied:
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"If you did some deep thinking you would have know @elonmusk would have build @Twitter rival with less than 1billion usd but instead paid 44billion usd. We are not buying site bro! We are buying data. Social media is no License to talk without thinking."
See his tweet below:
Social media reactions
"Dr Stephen has genuine passion in turning Narialand into a global micro blogging platform.
"I feel for growth n development of Africa, the CEO of Narialand should consider the offer.
"He might keep % of the stake,and sell majority to Dr SA , so he would always have something."
"If he really want to buy nairaland, he should be talking Tens of Billions not 1B, many years ago Nairaland n Linda ikejis blog where valued at over 1m dollars. For you to come years after and pls 1B means u ain't really ready!"
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"Well said, Nairaland is worth over 2B while offering 1B money less than it's worth. Naira land is not desperate to sell. So up the offer to 10-20B dollars then you sit to talk."
Stephen Akintayo gifts his old colleague N1m for helping him back in school
Meanwhile, Legit.ng previously reported that Dr Stephen Akintayo had gifted N1m to an old schoolmate named Bode who accommodated him years ago when he was needy.
Bode is an old student of his tertiary institution he met on a bus. They happened to have chatted and exchanged contacts during that short interaction on the bus. Stephen said he rang Bode and pleaded if he could stay in his place temporarily.
According to him, the kind schoolmate didn't hesitate in giving consent and would accommodate him for the next 3 months. 18 years later, he ran into Bode at a summit and gifted him N1 million in appreciation of the kind gesture back in school.