September 25, 2020

Welcome to this week’s edition of the RoundUp.  In this edition,  Innoson Motors makes a play into ridehailing services; Microtraction launches its Network Partners Initiative and Bike-hailing startup, SafeBoda, expands in Ibadan.

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  • Spotify may have a churn problem on its hands as podcasters are protesting its compensation model, diversity, IP concerns and work schedule. The unionizing notice is coming from Parcast,  a podcast production company it acquired last year.  The publication followed the Joe Budden’s termination of his partnership with Spotify over pay and other conditions of service like working during the holidays. Link

 

Why this is Important: Unionizing does not serve the interest of the platform as it now has to negotiate with a leveraged and stronger entity.  Independent content producers are realizing their powers with Joe Budden leading the way.  With a growing listenership and following, podcasters can now stand alone without gatekeepers.

For Spotify,  this is an opportunity to review their terms of engagement with this growing suppliers of content in its new offering – podcasts.

 

  • Indigenous car manufacturer, Innoson, is about launching its ridehailing service. It will be based on a hire purchase agreement starting with the city of Enugu. Link

 

Why this is Important: This is an interesting vertical for the company seeing it has some advantage as a manufacturer.  Importantly,  it is an affordable means to market its product with the visibility that comes with it.  Seeing that the cars will be used for commercial purposes,  it will be a good feedback channel for the company from drivers and passengers as these cars go through the rigours of Nigerian roads.  Finally,  Enugu State is a tech hub in South Eastern Nigeria,  adoption and willingness to pay for the service should not be a problem.

 

 

  • Microtraction, Nigeria’s early stage investor has announced its Network Partners Initiative featuring technology law firms, recruiters,  payment processors,  policy advisors and PR agencies to ‘use their specialized skills sets… interested in supporting and providing their services to the next wave of entrepreneurs…’. Recall that about few months ago,  the firm announced its second cohort of scouts across Africa. Link

 

Why this is Important:  In addition to the Scouts,  Microtraction is leading the way on how VCs should support start-ups beyond writing them cheques, especially here where the technology market is relatively young and capital is impatient.

  • News has spread out on yet another business model pivot by Andela. This time, it has become a full marketplace for software engineering talents. Recall that Andela started off by training developers and placing/matching them with clients and projects in exchange for a salary. Early this this year,  it pivoted to focus on supplying senior talents and now to a marketplace. Link.

 

 

Why this is Important:  Having gone remote,  and now a full marketplace,  Andela would likely find profitability soon if properly executed.  Having built some goodwill and credibility in the market,  using the platform by former colleagues and clients on both sides should not be a challenge.

This is also an attestation to the weakened ability to pay for local but senior talents especially within the continent.  It could also be a signal the market is experiencing a developer glut at the moment.

 

We Think You Should Read This:

SafeBoda Expands Within Ibadan: Link

Patreon Crosses $1bn Valuation: Link

Tiktok Introduces Marketing Partner Program: Link

 

 

 

 

Chinedu Okoro
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