We had seen those screens in yellow cabs in New York, and we imagined it was a concept we could recreate in Lagos and in Nigeria in general.
We immediately set out to seek market validation, our CEO posted a thread on TechCabal, asking for feedback from users. We had a few hundred responses and from our analysis, we felt comfortable pursing our unimaginable plan.
We quickly purchased a few screens, loaded them up with content, and ADs from businesses of our closest friends.
The first car with a TaxiTV screen was on the road by the end of November.
Over the next six weeks, we fine-tuned the app, and data logistics and we were on our way, we quickly signed up drivers and the demand of a screen from Uber drivers was quite overwhelming.
In January of 2018, we were fully operational, our screens were roaming all over Lagos. Because of the traction and all the calls we were getting from drivers and riders, we knew we were onto something huge.
The next step for us was to grow the 3 aspects of our business (drivers, content providers and advertisers). All these parts we increased in stealth for 6 months, we grew from one content provider to over 8, driver sign ups increased from 10 in December ’17 at an astronomical rate and our advertisers also increased allowing us run campaigns and keep the business alive.
One of the biggest problems we encountered while signing up drivers was getting them to buy tabs for the platform, we looked at their pain points and solved that problem with a strategic partnership with FINT, this is to provide financing for driver partners, thus enabling us fast-track our growth.
In March, we approached Investors from Beta.Ventures with what we were doing, our vision and our plan, they resonated with us, and agreed to invest, we are thrilled to announce we just closed a seed round of investment lead by Beta Ventures. Whoop Whoop!!
We intend to use the investment to scale, for product development and to improve our sales execution as well. Fast execution and being ahead of the pack is really key in our business and this investment would make building things happen as quickly as possible.
We envisioned a new advertising channel for advertisers to reach premium audience on-the-go. The concept behind the audience, is that an advertiser understands the demographic of the audience that use premium cabs in Nigeria. It is easy to target the audience based on the demographic.
In Nigeria, we realised from research that SMEs found it difficult to come across a suitable channel for advertising, and when they did, they are weren’t affordable. Our goal is to drive sales and revenue as well as awareness for the millions of Small and Medium Enterprises in Nigeria.
In the coming weeks, we would be launching a self-serve that allows SMEs advertise on our platform for as low as 25,000 naira, so be on a look-out
Come August 2018, cabs in Abuja will begin to have TaxiTV screens in them, so our abuja friends, if you in a premium cab, and you see one of our screens, take a picture and tag #ridewithtaxitv on Instagram and Twitter
Enjoy your Ride, Grow your Brand.