Is Nairalist Finally Dead? Here’s Why It May Be Dead

Just about three months ago, Nairalist founder, Oluwaseun Osewa asked if Dealfish, a classified ads competitor has finally managed to kill Nairalist?

While Osewa said he wasn’t sure at the time, it was evident that Dealfish had already overtaken Nairalist to become the most popular classified ads site in Nigeria.

“Actually, they can’t kill Nairalist. Classified advertising is not a winner takes all business. They can only beat us. But I’m not convinced that they can sustain this lead”, Osewa said in July.

As I write this, Nairalist seems already dead as classified ads on the site were last posted about one month ago, most likely in August. Besides, the site no longer accepts new posts, which has seen its traffic dwindle over the last few months.

On the other hand, Dealfish has continued to provide more value to users, especially with their mobile website. It’s also likely that the site may have lured Nairalist users with their million-naira ad campaigns seen on Google ads across local and global sites, Youtube, and buses around Nigeria.

But whether or not Dealfish can sustain this lead remains to be seen as the service can’t rely on Google Adsense for revenues.

A year ago, Dealfish made an offer to acquire a stake in Nairalist, but was rejected by founder, Seun Osewa. The deal, according to our source, would have fetched Nairalist close to $200,000 (about N30 million) last year.

While we continue to watch how the classified ads market in Nigeria unfolds, we’re predicting that Seun Osewa will throw in the towel on Nairalist. In fact, he’ll be wishing he sold the site last year to Dealfish.

Is Nairalist finally dead? Has Nairalist founder finally accepted defeat in the classified ads space?

Image: Oluwaseun Osewa, Nairalist founder – via Facebook

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