by African Startup
A teardown of how African consumer internet companies grow. We reverse engineer how they acquire customers, onboard them, retain them, and monetize them. You will learn many core concepts in growth like jobs to be done, product-market fit, product-channel fit, channel-model fit, and model-market fit.
Language
🇺🇲
Publishing Since
4/6/2021
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June 25, 2023
<p>In this episode, we had Tayo Oviosu, the CEO of Paga, who broke down the business behind the fintech company.</p> <p>We discussed Paga's progress over the years, from simplifying payments to digitizing cash transactions and providing financial services to everyday people. </p> <p>We also talked about Paga's go-to-market strategy in Nigeria, which combines offline and online channels. </p> <p>Tayo shared some interesting facts and figures about Paga, including reaching ₦1 trillion annual total processed value (TPV) for the first time in 2021, with plans to double that by 2023. </p> <p>He also shared valuable lessons learned from more than a decade of running a business and building financial products. </p> <p>Don't forget to share this episode with your friends and colleagues. Subscribe to our newsletter, and follow us on Twitter @TeardownPodcast for more insightful takes and stories.</p> <p><br></p> <p>Timestamp</p> <p>00:00 - 00:37 Intro</p> <p>00:38 - 04:00 Stories from the trenches</p> <p>04:01 - 05:15 Importance of good relationship with coworkers</p> <p>05:16 - 08:09 What is Paga and how has it evolved over the years</p> <p>08:10 - 15:00 What the first launch with Paga was like</p> <p>15:01 - 17:47 How frequently Paga released products/pushed things to production</p> <p>17:48 - 18:59 Building Micro-Services</p> <p>19:00 - 22:55 Evolution of business model</p> <p>22:56 - 28:50 Competitors and their adoption of the agency banking model</p> <p>28:51 - 31:00 Processing 7 Trillion Naira in a year</p> <p>31:01 - 32:45 How much margin they had to reduce for growth</p> <p>32:46 - 34:38 Technology Inflection Point that unleashed the barrage of retail agency banking</p> <p>34:39 - 39:11 Can the market support all the businesses that leverage retail agency banking</p> <p>39:12 - 42:05 How to get started with a retail agency banking</p> <p>42:06 - 42:45 Could an agency banking be built using Paga</p> <p>42:46 - 44:23 Customer Acquisition Cost and agent commission</p> <p>44:24 - 45:15 At what point will an idiot be able to run Paga</p> <p>45:16 - 45:55 Outro</p>
May 25, 2023
<p>Welcome to this episode of the African Startup Teardown Podcast, where we have VytautasPaukstys, the CEO of Eskimi, breaking down the business behind the ad tech platform.</p> <p>We start by discussing the evolution of Eskimi from its early days as a social media company to its foray into payments, ad tech, and every other business. Vytautas takes us through each era of product development and businesses, including the chat app, social site, payments, and ad tech platform. </p> <p>We also discuss the components needed to create a successful social media product back then, and how that has changed compared to building a successful social media app now.</p> <p>For our listeners who are building consumer products, Vytautas shares some of the experiments he tried to increase user growth and retention, including what worked and what spectacularly failed. </p> <p>Vytautas also shares his insights on the margins of digital ads and the economics of running a DSP. </p> <p>Don’t forget to subscribe and share the podcast with your friends and colleagues. Follow us on Twitter @TeardownPodcast and sign up for our newsletter to stay up-to-date on the latest insights and stories from successful African entrepreneurs.</p> <p> </p> <p><br></p>
April 4, 2023
<p>In this episode, the CEO and co-founder of Identity Pass, Lanre Ogungbe, shares the story behind the company and its mission to provide a world-class compliance and security infrastructure for Africa. </p> <p>The company offers a variety of products, including biometric authentication, data and document verification, and compliance and data security solutions. </p> <p>With over 1 million verifications processed since launch, Identity Pass charges between 10 and 20 cents per verification based on the number of endpoints a business connects to. </p> <p>Yemi discusses with Lanre about the differentiation of Identity Pass from other players in the AML/KYC compliance space, the challenges of acquiring business customers, and the potential for future growth and expansion.</p> <p>Subscribe to our podcast and share it with your friends and colleagues to stay up-to-date on the latest insights and stories from successful African entrepreneurs.</p> <p><br></p> <p>Timestamp</p> <p> </p> <p>00:00 - Intro</p> <p>00:31 - Story from the Trenches</p> <p>04:41 - What is Identity Pass?</p> <p>07:11 - Innovations enabled by products Identity Pass offers</p> <p>10:16 - Why does identity verification have so many players</p> <p>15:51 - Dynamics within the the industry that allows for multiple companies</p> <p>20:51 - Opportunities for players in the industry to share APIs</p> <p>23:56 - How would a customer know Identity Pass is the right one for them</p> <p>27:31 - How does wide range of business product create better outcomes for Identity Pass</p> <p>32:15 - Interesting stats worth knowing</p> <p>36:06 - Components that had to be put together to make Identity Pass work</p> <p>41:30 - How much Identity Pass makes per business acquired</p> <p>46:06 - Business Margin for Identity Pass</p> <p>52:51 - What a typical sales cycle looks like</p> <p>55:06 - How Identity Pass got it's first customer</p> <p>56:56 - Stereotyped faced being seen as Gen Z</p> <p>59:56 - Bull Case for Identity Pass</p> <p>1:02:16 - Outro</p>
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A teardown of how African consumer internet companies grow. We reverse engineer how they acquire customers, onboard them, retain them, and monetize them.
You will learn many core concepts in growth like jobs to be done, product-market fit, product-channel fit, channel-model fit, and model-market fit.
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