Update: We just received a confirmation email on the acquisition detail from Yarnable’s founder. It was acquired by Le Proghrammeen Solutions Ltd and Mobiqube Nigeria Ltd, both partnering to take Yarnable to the next level.
The deal was finalized yesterday after several weeks of discussions with the founder, Ahmad Mukoshy. Although we’re not sure, it is likely that Yarnable was sold for between $2000 and $3000 (about N300,000 to N450,000).
Yarnable started about a year ago and has just about 300 members actively using the site, according to Mukoshy. When asked why he sold the site, Mukoshy said that he’s been having challenges with his time and focus on other new ventures he’s running.
We also think that it’s been a challenge for Yarnable to differentiate itself from Twitter and similar services. Yarnable may also have been struggling with how to monetize the service, which in fact has been a huge challenge for Twitter.
But now that Yarnable is now owned by MobiQube Nigeria Limited, a company that specializes in developing applications for mobile platforms, as well as Le Proghrammeen Solutions Ltd, I’m guessing that Yarnable will go mobile and eventually monetize.
While it’s not certain whether or not Yarnable will remain a micro-discussion site, it is likely that ‘yarns’ would go on from a mobile app.
If the ‘new’ Yarnable could offer something unique that’ll make all of us probably stop ‘tweeting’ and start ‘yarning’, then we can say that local micro-discussion sites can go mainstream.
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