After three years of investment in Jajiga, the first move was removed from its shareholding composition and all the shares of this startup returned to its founders.
According to the Iran digital economy annotation, the first move was to buy 20% of Jajiga’s shares and after 3 years of participation in this startup, it was removed from the shareholding of Jajiga startup and all the shares of this startup returned to its founders. The company has declared its exit a successful exit.
Babak Sohrabi, the co-founder of Jajiga, announced on his social page X (former Newiter) that the first mover was leaving as an investor in this startup and announced that all the shares of Jajiga were returned to its founders.
Harkat Aval, as a venture capital holding company of Harkataval Group, participated in this startup by buying 20% of Jajiga shares in August 2018. As stated in the statement of the First Movement, Jajiga has always been one of the most successful and professional startups of the First Movement, and with its significant growth, it has completed the five-year journey in 3 years.
The first move regarding the exit of Jajiga shares has announced in its statement that it has received several proposals from colleagues and major players in the industry, but they have considered the priority with the main owners of the business.
Also, First Movement has announced in its statement that the shares of First Movement in Jajiga were bought by the founders and First Movement has made a successful exit. While expressing hope for the continuation of the synergy formed between the successful startup Jajiga and the family of the first company, the departure of the first company will not mean the end of our association with Jajiga.
Babak Sohrabi, the co-founder of Jajiga, also confirmed this news on his page on X social network.
In response to Digiato regarding the reason for the exit of the first move from Jajiga’s shareholding, he said: “The most important goal of a venture capital fund is to realize the profit from the investment. Considering the good growth that Jajiga has had during these years and has achieved a significant value in the market, the first move made good offers to buy shares.
Due to the fact that the options they were considering were not agreed upon by us, we bought the shares ourselves through an agreement.”
Sohrabi also answered the question of whether they talked to another investor to continue the company’s path or not, he said: “Jajiga startup is profitable and if some plans are realized, we may continue bootstrapping, a method in which we have good experience and skills.” . But at the same time, we are considering the options with regard to targeting for the market leader and the existing competition.”
The co-founder of Jajiga, while confirming the unsettled situation of tourism in Iran, explained about the vision of this startup for the future of its activity: “Iranian tourism does not have a happy present and day; But despite the existing obstacles and challenges, we achieved significant results. Considering the neglected and latent capacities in Iran’s tourism, I predict a bright future for this industry and I will personally try to realize it.”
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