MoboFree.com has announced that the total volume of items currently for sale in its marketplace is worth USD 526 million and is expected to reach USD 1.5 billion by 2015.
According to the online shopping portal, it has 3.3 million registered users, including 2 million in Nigeria and a strong footprint in Zimbabwe, Uganda and Ghana. The best-selling items, according to the company, are phones, tablets and mobile devices, followed by clothes, fashion and beauty and electronic devices.
MoboFree CEO and co-founder Neringa Kudarauskiene, said that: “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. We are now looking for new partners with which to share our exciting expansion plans as we see enormous opportunities arising in Africa.”
MoboFree is a social marketplace with a unique user-centric approach rather than the traditional item-centric approach. MoboFree allows its buyers and sellers to obtain a large amount of personal information about one other – ranging from photos and mutual friends to ratings or other data that enables identification of whether or not a person is trustworthy.
Negotiation and communication during the buying/selling process is a very important part of African culture. MoboFree allows its members to communicate and negotiate conveniently without leaving the platform. They can do this via private messages or via chat. MoboFree members send over 8 million private messages per month.