Overview: Today, we’re going to talk about TradeDepot. We’ll explore the story across the following areas:
Africa’s and Nigeria’s informal retail sector
TradeDepot's early history
Product & monetization strategy
Competitive positioning & potential exit options
Overall Outlook.
This episode was recorded on June 25, 2023
Companies discussed: TradeDepot, Twiga Foods, Wasoko (Sokowatch), Omnibiz, Alerzo, Marketforce, Sabi, Multipro, FMCG Distributions Limited & Kellogg
Business concepts discussed: Informal retail penetration, SMB retail OS, B2B Operating systems, Informal markets, B2B retail, Buy Now Pay Later, Trade Finance & last-mile distribution
Conversation highlights:
(01:00) - TradeDepot intro and why we’re talking about them
(06:50) - Africa’s informal retail sector
(20:55) - Differences in informal retail across Africa
(25:43) - Founders’ background and early history
(36:45) - Launch strategy
(42:54) - Fundraising and Growth
(49:55) - Growth and geographical expansion
(1:02:33) - Product strategy and evolution
(1:15:26) - Monetization strategy and costs
(1:13:11) - Competition
(1:25:05) - Options for exit
(1:32:52) - Bankole’s overall thoughts and outlook
(1:42:22) - Olumide’s overall thoughts and outlook
(1:53:03) - Recommendations and small wins
Olumide’s recommendations & small wins:
Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com
Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)
Recommendation: Eleven Rings (Phil Jackson). Great book about the unbelievable career of Phil Jackson who won rings with the Bulls (Michael Jordan) & Lakers (Shaq & Kobe).
Recommendation: Spider-Man: Across the Spider-Verse movie. Best movie I’ve seen in years. Remarkably good. Great story. Great visuals. Fun!
Small win: Friends together for a birthday party on a boat and at the club. It was incredible.
Small win: FIREDOM book launch party in Washington DC. I wasn't even there but I felt the energy all the way from here in Miami.
Bankole’s recommendations & small wins:
Recommendation: Voyager Playlist, Basquiat - Asake & Iya Eba’s Legacy
Small win: Switched to a new keyboard - the Keychron K2
Listeners: We’d love to hear from you. Email info@afrobility.com with feedback!
Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com
Investors: It would be great to link up with you. Contact us at info@afrobility.com
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