OWNERS OF THE SITE DON BROKE O!

https://flippa.com/2867569-pr-4-social-network-with-750k-registered-members-124k-uniques-mo-making-693-mo

This news should be on the front page

Description

For an neutral point of view on this social network, please look at Wikipedia: http://en.wikipedia.org/wiki/LAGbook

Ladies And Gentlemen book (LAGbook) was created on the 17th of April 2010, and launched on the 25th of April, 2010 by my twin (Chidi) and I during our first semester at the University of Lagos.

The social network was initially created as an exclusive network for our University, and quickly grew to fame on our campus with over 3,000 students registered within the first 8 weeks of run.

Since then, we have expanded our reach subsequently and now have over a database of 750,000 members. LAGbook makes an average of $600 every month through our in-built advertising services. On June 2012, we struck an 8 weeks advertising deal with Blackberry Nigeria worth about $7,500. (See: http://news.yahoo.com/prominent-african-social-network-signs-deal-blackberry-nigeria-071009838.html)

As of writing, LAGbook costs about $230 per month to run.



What is LAGbook?

Ladies And Gentlemen book (LAGbook) is an online social discovery network where over 750,000 people around the world unwind, mix, connect with one another and share their daily experience.

We're Africa's leading social discovery utility in terms of user-size, daily signups, and popularity.

You can browse our people directory from A-Z at: http://www.lagbook.com/people



What’s Included:

Domain Names lagbook.com and lagbook.net
LAGbook Database (750k+)
LAGbook Brand
Facebook Page (14k)
Twitter (1.3k)



Reason for selling

We are currently working on our game development company.(See http://www.humanipo.com/news/1833/LAGbook-to-launch-Naija-Arts-an-online-game-maker-in-2013)

Initially, we wanted to run it alongside LAGbook. We wanted all our online game contents to be made available on LAGbook (which we still nurture). But creating 3-dimensional games is often tasking and needs total commitment and this is not good for LAGbook. So, we want to sell off into a hand that will give LAGbook all the attention that it deserves.


Running the site.

LAGbook requires little time to run at the moment since it is now self sustaining. It rakes in over 4,000 new members everyday, and costs thereabout $230 per month to keep online.


Revenue

We have been making our revenue chiefly through our self-run ad system. At the moment, we earn $600-$700 per month on average.



Is LAGbook Built from Ground up?

No. LAGbook is built on the generic social groupware platform GROU.PS, but over the years, LAGbook have built extensively on this platform with custom codes (HTML, CSS, Javascript) showcasing the full potential of what the platform can do. LAGbook inspired a Facebook-like template addition to the GROU.PS platform because of its fast growth. (See: techcrunch.com/2011/08/09/grou-ps-lets-you-create-your-own-private-facebook/)