Good day everyone, I have been following radar for some months now and I have really learnt a lot from the members of this great platform, I am a tech enthusiast, I would love if members in the house can shed more light on how partnerships in tech startups work eg. konga partnership with supergeeks for smartphone insurance, pass.ng with airtel and Jamb, irokotv with other online movie distributors just to name a few, would like to know, does every partnership have to do with a bigger company paying the smaller one or is just partnering to strengthen both companies stand in the market this among others are some of the things I would love to know more about. Thanks
Payments would depend on the direction in which most of the perceived value flows. Sometimes, both parties decide the partnership is symbiotic and pool their resources together (based on agreed terms regarding contributions) to make it work. Paperwork is usually in place to address expectations, and at what point one party starts having to pay the other (if that’s ever going to happen), or dissolution of the partnership.
Thanks for your contribution. I will like to use pass.ng that partnered with Jamb as an example ,if partnering with jamb will increase the adoption and use of their service by students does that mean they can be in partnership just to make pass.ng gain more customers, it’s more like a win for pass. since they will be getting more customers probably due to Jamb encouraging students who register for utme to use pass service wouldn’t that mean Jamb could ask for a fee in return and vice versa, kinda confused
I don’t know the details of that arrangement in particular, but my previous post still applies.
Value to JAMB might be the fact that they can improve the percentage of students who pass, and based on what strategy pass.ng is bringing to the table, might prove to be something substantial enough. Like I said earlier, both sides stand to gain something from a partnership one way or the other, otherwise, the partnership is DOA. Now, JAMB would readily pay pass.ng if the expectations from the partnership proves to be crucial to achieving their long term goals. If the guys behind pass.ng can’t properly sell this to JAMB, they will probably end up paying for the “advertising and users” they get in return.
Boss, you really gave a clearer understanding of some of the things that were confusing to me about partnership in tech startups. Thanks once more
It is always a symbiotic relationship, except during an acquisition. One partner may leverage on the other temporarily but in the end, they both win.
Case in Point: Once upon a time, any monthly recharge of my Spectranet account entitled me to a voucher to watch irokotv for free for 31days.
Spectranet’s gain? You definitely watch irokotv once you get the voucher. Streaming burns data. That means you’ll use up your data faster and you’ll recharge your account faster
Iroko’s gain? Once you get a taste of iroko, chances are higher you’ll stay with them if you like the content. After all, seeing is believing. That brings increased viewership
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