#9. OPay (Opera Pay) - From Web Browser & Fintech to blitzscaling and building Africa's Super App

Overview: Today we’re going to talk about OPay - The African Payments startup, we’ll discuss its early history, initial focus on African payments, blitzscale attempt to become Africa’s Super App & end with our views on its future outlook. This episode was recorded on August 9, 2020


Companies discussed: Opera Group, OPay (Opera Pay), OCar, OFood, ORide, OExpress, OBus, OTrike, Beijing Kunlun, Meituan Dianping, Tencent (WeChat), Go-Jek, Grab, Jumia, AliPay & GTBank.
 
Business concepts discussed: Blitzscaling, Super App strategy, Equity fundraising, VC / Entrepreneur risk dynamics, China Tech, Fintech , Chinese investments in Africa tech.


Conversation highlights:
(01:15) - Why the OPay story is important
(02:47) - Background on Opera and market share in Africa
(05:53) - Background on Zhou Yahui and Beijing Kunlun Opera acquisition
(09:05) - OPay fundraising
(13:40) - OPay Blitzscaling approach, trade offs and other examples
(24:30) - Super App strategy discussion: Great and not-yet great examples
(34:00) - OPay in Nigeria and multiple business lines
(38:50) - OPay refocusing on Fintech and reacting to COVID
(45:00) - Bankole’s overall thoughts and outlook
(50:30) - Olumide’s overall thoughts and outlook
(57:30) - Bankole’s recommendations and small wins
(59:30) - Olumide’s recommendations and small wins


Olumide’s recommendations & small wins:
Recommendation: How Innovation Works (by Matt Ridley)
Small win: Good to be back in the gym after 5 months
Other content mentioned: Blitzfail: How Not to Go off the Rails (by David Sacks)


Bankole’s recommendations & small wins:
Recommendation: The Worst Epidemic (from Waking Up Podcast by Sam Harris)
Small win: Eloquent Chrome extension
Other content mentioned: GTBank Habari - customer review


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