Chris Folayan: What I’ve noticed even from sales on our platform is that people are moving towards tablets – mostly tablets with SIM cards in them because then, you have constant data. The adoption of WiFi all over is not something that is common in Africa at this time. You have people adopting tablets. They’re looking for bigger screens
Chris Folayan: Most of the financial transactions right now are based on purchasing of items. In Nigeria, for example, you can buy your airplane tickets on your mobile device. You also have new applications out there using which you can hail a taxi – something like Uber. Mobile payment is something that’s picking up. It hasn’t exploded as
Sramana Mitra: How do you estimate the size of that market currently? How much is the volume of e-commerce that’s happening? Also, what is the volume of cross-boundary e-commerce that’s happening? Chris Folayan: As far as volume of e-commerce happening across Africa is concerned, it’s well in billions of dollars at this point in time. It’s
E-Commerce is blossoming all over the world. In this story, we take a close look at what is happening in Africa, especially Nigeria. Sramana Mitra: Let’s start with introducing our audience to yourself as well as Mall For Africa. Tell us about what you do and what’s happening in your world. Chris Folayan: I’m the
Sramana Mitra: What are some of the major trends that you are tracking and building your strategy around as you’re watching the book business? Tony DiCostanzo: I think the one that’s most prevalent is the momentum that e-books are building in the market. That’s one of the reasons that we pursued and made the investment
Sramana Mitra: There are major trends in the space right now. For example, Amazon has made it very easy for independent or self-publishers to maintain a whole portfolio of books. A lot of major writers are moving to that mode of publishing. Especially in the business books genre, there’s a major shift. These are in your
Tony DiCostanzo: When I started engaging customers on the website in the broader segment of enterprise sales rather than just healthcare, I initially put up the books and made single copies available. It was difficult to say, “We’re great at these bulk sales but we also can do one copy.” That’s what everybody else was doing. Within two months, I realized that
Sramana Mitra: How did you select whom to put in the private beta? How were you finding these beta customers? Ilana Stern: It started with my network. The fact that I am in the target audience is really helpful because I am the customer and the people around me are too. The first few customers