The value of items listed for sale on African social marketplace MoboFree.com will hit US$1.5 billion by 2015, with the current total value of items already surpassing US$526 million, the company said.
MoboFree said it currently has 3.3 million users, of which 2 million are in Nigeria, with strong footprints in Ghana, Uganda, and Zimbabwe; while further expansion plans are being worked on.
“Africa is home to six of the ten fastest-growing economies in the world. Our strong performance once again confirms the success of our model and is indicative of the high level of activity in all markets in which we operate,” said Neringa Kudarauskiene, co-founder and chief executive officer (CEO) of MoboFree.
“We are now looking for new partners with which to share our exciting expansion plans as we see enormous opportunities arising in Africa,” said Kudurauskiene.
According to the company, users upload thousands of new classifieds daily, generating an average of 60 million page impressions every month.
It also revealed the best-selling items are phones, tablets and mobile devices, clothes, fashion and beauty and electronic devices.
MoboFree can be accessed from any device, ranging from desktop computers to smartphone as well as feature phones.
The platform is based on a user-centric approach to buying and selling, with users able to communicate freely regarding items on sale, as well as access photos, information and ratings about other users on the site in order to ascertain reliability and trustworthiness of sellers.
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