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“Behind every great startup success story are countless failures no one talks about. 💡 In this episode, we dive into Kenya’s most shocking startup collapses—unpacking the bold ideas, big ambitions, and costly mistakes that led to their downfall. What went wrong, and what can future entrepreneurs learn? Watch now to uncover the harsh truths of the startup world!”
Story Complied by E-Michelle.
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Date: November 21, 2024
Can't help but notice that a lot of Kenyan startups aren't actually started by native Kenyans. Maybe that's why so many of them have been failing
Your mastery of English language is spot on.
Some of these companies are simply Trojan horses. They are only collecting Data and they are making millions from that.
These guys were trying to compete with old founders and their adult children. A devastating team to compete against.
I think swival should be on this list.
Biggest red flag no kenyan founder or co founder flag🚩🚩🚩🚩🚩🚩🚩🚩
The biggest problem with all these startups is that they ignored the human element and behaviour, the reason Micheal Joseph branded Kenyans as having peculiar calling habits and safaricom had to shift it's strategy to match the customers' habits, they introduced per sec billing and took over the market and that's how they got here.
All these startups failed in understanding the human element of it all. Reja reja and Copia were competing against already established market with courier services and distributors already enjoying strong relations with customers.
All in all, startup funding in Kenya doesn't makes sense and looks more like a money laundering scheme by foreign entities through "funding and debt," which are both income tax exempted.
So I hate to say it but I feel there is some discrimination going on. So many American companies were never profitable and just burning through cash but investors kept investing : Wework, WhatsApp, Amazon, and many many more, with the vision to completely take over market share, but it seems when these African companies need to burn through cash to take over market share they are axed. Sad, as Africans we need to be profitable from day 2 compared to others that don't ever turn a profit
Randomly landed here. Love your platform. Very informative
accidentally came across this channel, very good work, keep it up!