Overview

Update
Acquisitions
1 Acquisition
Total Equity Funding
$10.7k in 3 Rounds from 3 Investors
Headquarters:
Lagos
Description:
PicRate.Me is a site where people can post their pictures and have others rate them.
Founders:
,
Categories:
Identity Management, Social Media, Communities
Website:
http://picrate.me
Social:

Company Details

Update

Ladies And Gentlemen's book (popularly known as PicRate.Me (formely LAGbook)) is one of Africa's fastest growing social networking sites with over 3,000 daily new sign-ups.

PicRate.Me (informally written as "Lagbook" or "lagbook") is an online social network where thousands of people unwind, mix, connect with one another and share their daily experience.

A social network launched April 2010 with over 400,000 users so far and 4,000 daily new sign-ups is expected to reach a user-size of 700,000 toward the end of 2012 and join the social networks with over 1 million registered members by Mar 2013.

PicRate.Me claimed 10,000 new members in the month of August 2011 and recorded over 3 million pageviews from over 500,000 visitors in 170 countries in 2012.

The social network has described itself as a social network focused on expanding social experience of people and giving them an incentive to do what they love doing the most - making new friends. They claim not to limit their members to connecting and sharing with the people in their life or the people they already know, thus they go by the name; "social discovery network".

According to a TechCrunch article, LAGbook "...an African-based social networking site... grew to 35,000 members in just six months..."

According to Vanguard Newspaper, "The site which started with 3,000 members now has over 71,000 users, and is currently expanding daily..."

In the month of December 2011, LAGbook announced it will be expanding its offices to Ghana with the creation of LAGbook Ghana.

According to GROU.PS, who named the young social network as "...a Few of the Finest GROU.PS Around", LAGbook is a social network that is "...gaining popularity by the day across the African continent and beyond. Highlights of this hyper-active social network include photo, video and link sharing, a group chat, and features a host of activities to increase user engagement, including a games section, subgroups, an active event calendar, a music player, and more."

According to National Mirror, a national newspaper in Nigeria, "With over 25 thousand subscribers, LAGbook is quickly gaining prominence."

According to Yahoo! News, LAGbook has "popularity in India, Turkey, Canada, United States, United Kingdom, Romania, Germany, Malaysia, Philippines and most especially Nigeria in the city of Yaba, Lagos, where the social network was incepted and currently ranks #2 in traffic, right after Facebook (#1)."

PicRate.Me is owned by LAGbook Inc. and funded by LAGbook Capital, a venture capital firm that focuses on acquiring and investing in promising African internet start-ups.

PicRate.Me has partnered with several Nigerian Telecommunication companies, including Research In Motion (Blackberry) Nigeria.

Funding Rounds (3) - $10.7k

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DateAmount / RoundValuationLead InvestorInvestors
Jul, 2011$5k / Angel1
Mar, 2011$3k / Seed2
Oct, 2010$2.7k / Seed1

Investors (3)

Acquisitions (1)

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DateAcquiredAmount
Feb, 2011Stock

Current Team (5)

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News (7)

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DateNews
Sep 3, 2012Vanguard Nigeria Business - Let your dreams run wild – Nwaogu twins
Aug 4, 2012africanbusinessreview.co.za - LAGbook secures Blackberry Ad deal
Jun 1, 2012Vanguard Nigeria Business - UNILAG twins host over 71,000 users on Lagbook
Feb 25, 2012lagbook.com - PicRate.Me raises 2000 in venture round
Feb 25, 2012lagbook.com - PicRate.Me raises 5000 in venture round
Feb 25, 2012lagbook.com - PicRate.Me raises 1700 in venture round
Sep 6, 2011TechCrunch - GROU.PS Lets You Create Your Own Private Facebook

Competitors (2)

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  • Largest Social Networking and Entertainment Community In Africa
  • Nigerian Best Forum is an online bulletin board targeted specifically toward use by Nigerians.

Offices/Locations (1)

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  • Corporate Contact

    P.O. Box 1337, Festac Town

    Lagos, 1337

    NGA

Images (8)

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