Founder insists WayaWay was never acquired, battles false narrative five years on
Teddy Ogallo, founder of Kenya’s AI startup WayaWay, says he has spent the last five years fighting reports that his company was bought by Ajua in April 2021. According to Ogallo, he only signed a consultancy agreement with Ajua in March 2021, transferred his own software Janja, and received stock options—there was never any discussion of an acquisition, no shareholder votes, board approvals, or valuation. Despite this, TechCrunch and other outlets reported the acquisition on April 28, 2021, and the story spread across databases and search results. Kenya’s competition regulator later asked for proof of the deal, prompting Ogallo to provide documents showing no transfer of ownership. Ajua’s lawyers argued the matter fell outside Kenyan jurisdiction because both firms are incorporated in Delaware. Ogallo contacted journalists for corrections; TechCrunch kept its article but said it would review his claims, which never materialized. Five years later, the false acquisition narrative persists online, affecting partnership talks and due diligence, as clients and partners question WayaWay’s continuity.
For Nigerian entrepreneurs, the episode underlines the need to keep detailed, accessible records of all agreements, shareholder registers, and communications; to correct false narratives quickly; and for investors to verify claims through primary documents rather than relying solely on press coverage before entering partnerships or making investment decisions.