A few weeks ago, I discussed how super-apps across Asia faced more scrutiny from regulators and funders. A few people reached out on my LinkedIn with their own thoughts about the super-app business model and why it would or would not work in X country. This made me think about what specifically about the super-app business model wasn’t working. It seems straightforward: bundle apps, create stickiness, and profit. What has gone wrong?
Living The Dream
For several years, there was much hype and excitement about copying China’s immensely successful “super app” model to the rest of Asia and the world. China’s Super apps, WeChat and Alipay, brought together products and services in a seamless platform, offering everything from messaging and social media to ride-hailing, food delivery, and financial services.
The model had other platforms and VCs salivating over the data and cross-selling possibilities. “We’re a super-app” became a rallying cry with the promise that by bundling a wide range of useful services into a single app, companies in other regions could achieve similar market dominance and stickiness with consumers—or at least increase their valuation…
However, the enthusiasm around super apps expanding globally seems to have died down considerably as of late. While some companies are still pursuing the super app playbook in markets like Latin America and Africa, the hype cycle appears to have shifted to other hot trends like embedded finance.
Lessons Learned
There are a few different lessons about the business models to learn here.
Firstly, WeChat and Alipay were successful because of market…
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