My Brain Food This Week...
Crypto tailwinds in SA, Apple shipped the most phones in 2023, and lessons in building from Stan
Story of the week:
Stan's 2023 Shareholder Letter
(John Hu)
Key takeaways:
Stan's Remarkable Growth: Stan, a platform for Creators, has experienced significant growth, soaring from $1.7 million to $14.7 million in Annual Recurring Revenue in just one year. The company now serves over 30,000 Creators and has become a thriving team of 20 talented individuals.
Success Factors and Challenges: The key to Stan's success has been recognising that customers are its best salespeople. By focusing on delighting users and building systems, the platform achieved exponential growth. However, the company faces challenges, including maintaining values at scale, executing effectively as it grows, and addressing churn concerns.
The Creator Economy's Potential: The Creator Economy has immense potential, enabling individuals to turn their passions into profitable businesses. Stan envisions a future where anyone, regardless of background or expertise, can make a living doing what they love, and the company aims to play a pivotal role in unlocking this vast opportunity.
💎 Africa
Nigeria’s telecom industry is about to get a new player in Mafab Communications. Backed by deep pocketed local investors, Mafab’s introduction will go a long way towards improving quality of service.
50 applicants are hoping to get their Crypto Asset Service Provider licenses in South Africa. The friendliness of regulators in SA is a tailwind for the crypto industry in SA.
🌏 Global
Apple tops Samsung in worldwide smartphone shipments for the first time. Apple accounted for 20% of the global market.
The gaming industry is undergoing a fundamental change, where players would have to pay a subscription to play, instead of a once-off purchase for a game.
Other reading: