The owner of Lagos Life, Shalom Rayhamen, has revealed that someone recently offered $100,000 to acquire the app, but said he would only consider selling it for $1 billion.
Rayhamen disclosed this while responding to the reported offer, explaining that he believes the current value of Lagos Life is significantly higher than the amount proposed.
“Someone said he wanted to buy my game for $100,000 on Twitter. Lagos Life is currently valued at $1 billion, so if anybody can send me $1 billion I will sell the app. We have already made more than $100,000,” he said.
His statement highlights the growing attention surrounding Lagos Life and its commercial potential, particularly as digital products and locally developed applications continue to attract interest from users and potential investors.
Rayhamen’s claim that the platform is valued at $1 billion represents his stated valuation of the app and should not be interpreted as an independently verified market valuation.
He also disclosed that Lagos Life has already generated more than $100,000, suggesting that the platform has begun to record significant revenue since its launch.
The reported $100,000 offer would represent only a fraction of the $1 billion valuation Rayhamen placed on the platform, explaining why he rejected the figure and indicated that he would only sell if presented with an offer matching his stated valuation.
The comments have also drawn attention to the broader conversation around the value of African-built technology products and the potential for locally developed digital platforms to become major businesses.
For founders, valuation is often influenced by factors including revenue, user numbers, growth prospects, intellectual property, brand strength and the potential size of the market. A founder’s asking price, however, does not necessarily represent the price investors or buyers would ultimately be willing to pay.
Rayhamen’s remarks therefore offer insight into his confidence in the future of Lagos Life and his expectations for the platform’s growth.
For now, there is no indication that the app is officially up for sale. Based on his statement, Rayhamen appears to be signalling that he has no immediate interest in selling the platform unless a potential buyer is willing to meet his $1 billion asking valuation.
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