Overview: Today, we’re going to talk about uLesson - the African EdTech platform. We'll start with some context about education in Africa & Nigeria, talk about uLesson's early history, fundraising, product strategy & end with our views on its future outlook. This episode was recorded on Jan 24, 2021.
Companies discussed: uLesson, Byju’s, School Visual, WhiteHat Jr, Yuanfudao & Owl Ventures
Business concepts discussed: Education technology, monetization strategy, African expansion, product localization, new product development, growth/profitability trade-offs & equity fund raising
- (01:30) - Why we are talking about uLesson
- (04:15) - Nigerian / African educational context
- (22:08) - Sim Shagaya background, work experience
- (24:20) - Entrepreneurial ventures: e-Motion, DealDey, Konga
- (32:16) - uLesson founding and seed round
- (40:02) - $7.5M Series A overview
- (45:30) - Expansion to other African countries
- (50:45) - uLesson product & pricing strategy
- (1:02:45) - uLesson user growth and engagement
- (1:03:26) - uLesson competition across Africa
- (1:18:14) - Bankole’s overall thoughts and outlook
- (1:28:45) - Olumide’s overall thoughts and outlook
- (1:36:55) - Recommendations, small wins & open questions
Olumide’s recommendations, small wins & open questions:
- Recommendation: The Chicken or the Exit (by Osarumen Osamuyi), Africa tech summit & How to make friends as an adult
- Small win: Spent Birthday Singing songs (Airbnb experience) with Broadway star (Stephen Carlile). Beyond Amazing!
- Other content: Techpoint tweet summarizing Sim's exits & Sim's uLesson announcement
- Other content: Blitzscaling: How not to go off the rails (David Sacks)
- Open question: What are the biggest challenges uLesson could face in 1-3 years?
Bankole’s recommendations, small wins & open questions:
- Recommendation: Ask Your Developer & Gravity visualized - YouTube
- Other content: Sequoia funded companies tweets
- Small win: More walks, and been trying this new thing where I only play video games one day a week
- Open question: Question for Sim - What did you know at the start of Konga, that by the end of it, you realized you were wrong about?
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