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Data Bird: A Monster Growing in South Asia ("SA")
Data Bird ("DB") is building the Internet ecosystem in Asia’s fastest growing economy
DB will become the dominant Internet company in the country; the opportunity is similar to investing in a young Tencent
Time for a thread
Data Bird ("DB") is building the Internet ecosystem in Asia’s fastest growing economy
DB will become the dominant Internet company in the country; the opportunity is similar to investing in a young Tencent
Time for a thread
1/ The Basics
Business Verticals:
1. Communication (Ridmik): #1 Keyboard and News app with 23MM MAU, 14MM DAU
2. OTA (ShareTrip): #1 OTA – 250K Loyalty Program Members
3. Ad Exchange (G&R) – Digital local exchange
4. FinTech (2021): P2P and micro-transactions
Business Verticals:
1. Communication (Ridmik): #1 Keyboard and News app with 23MM MAU, 14MM DAU
2. OTA (ShareTrip): #1 OTA – 250K Loyalty Program Members
3. Ad Exchange (G&R) – Digital local exchange
4. FinTech (2021): P2P and micro-transactions
2/ The Opportunity - Bangladesh
GDP Growth: 8.1% (Fastest in Asia)
Population: 170MM people (7th largest in world)
- Internet Users: 50MM (29% of Pop)
- Mobile Phone Users: 120MM (71% of Pop)
- Smartphone: 46MM (38% of Mobile)
Middle Class: 20MM; est. double in 5 years
GDP Growth: 8.1% (Fastest in Asia)
Population: 170MM people (7th largest in world)
- Internet Users: 50MM (29% of Pop)
- Mobile Phone Users: 120MM (71% of Pop)
- Smartphone: 46MM (38% of Mobile)
Middle Class: 20MM; est. double in 5 years
3/ Why Now?
The Internet domination blueprint is proven: be first, focus on user growth, then scale
First mover advantage at low Internet penetration enables cheaper cost per install.
Accumulating user base at low cost enables scale
DB is positioned to be the first mover
The Internet domination blueprint is proven: be first, focus on user growth, then scale
First mover advantage at low Internet penetration enables cheaper cost per install.
Accumulating user base at low cost enables scale
DB is positioned to be the first mover
4/ Sustainable Competitive Advantage
Data Bird Nest: Proprietary database that serves as a data lake for user data across the ecosystem
Network effects: More data > Better understanding customer evolution > Better recommendations > User satisfaction > More users > More data
Data Bird Nest: Proprietary database that serves as a data lake for user data across the ecosystem
Network effects: More data > Better understanding customer evolution > Better recommendations > User satisfaction > More users > More data
5/ Domestic Travel Market
Growth: $2.6B to $7B over next 5 years (22% CAGR)
COVID TAILwind - Industry Reset: Rapid penetration of ShareTrip at expense of offline agents
After an 8x in 16 months (400% CAGR); rapid recovery post-Pandemic due to greater market share
Growth: $2.6B to $7B over next 5 years (22% CAGR)
COVID TAILwind - Industry Reset: Rapid penetration of ShareTrip at expense of offline agents
After an 8x in 16 months (400% CAGR); rapid recovery post-Pandemic due to greater market share
6/ ShareTrip: Bangladesh’s Largest OTA
#1 Travel Agent: $27MM GBV
Returning Customers*: 77% (Industry leading)
*Most impt OTA KPI
Loyalty Program Members: 250K
Cum. Downloads: 253K
2019 Bookings: 48K (8x Growth)
Top B2B Platform: ~2.9K offline agents (bringing them online)
#1 Travel Agent: $27MM GBV
Returning Customers*: 77% (Industry leading)
*Most impt OTA KPI
Loyalty Program Members: 250K
Cum. Downloads: 253K
2019 Bookings: 48K (8x Growth)
Top B2B Platform: ~2.9K offline agents (bringing them online)
7/ Ridmik: Super App for daily life, content, & payments
-23MM MAU (+50% of all smartphone users)
-#1 Keyboard, New, eReader, & Friendship app (separately)
-Leveraging user base to create Messaging app
Ridmik Keyboard:
+52MM cum. downloads
4.5 Stars on Google Play
14MM DAU
-23MM MAU (+50% of all smartphone users)
-#1 Keyboard, New, eReader, & Friendship app (separately)
-Leveraging user base to create Messaging app
Ridmik Keyboard:
+52MM cum. downloads
4.5 Stars on Google Play
14MM DAU
8/ Ridmik Ctd.
Ridmik News:
~1.6MM cum. downloads
4.3 Stars
237K MAU
Boitoi (e-Reader) - Nascent
Early stages - 1.7K books
33K MAU
281K cum. Downloads
Bondu Buzz (Friendship & Dating)
In Beta testing
Bondu - Friendship - better cultural signaling
Ridmik News:
~1.6MM cum. downloads
4.3 Stars
237K MAU
Boitoi (e-Reader) - Nascent
Early stages - 1.7K books
33K MAU
281K cum. Downloads
Bondu Buzz (Friendship & Dating)
In Beta testing
Bondu - Friendship - better cultural signaling
9/ Local Online Advertising
No presence of $FB or $GOOGL (Capital controls)
Ad Market: $1.2B market est. $3.5B (2.6x) by 2025 (24% CAGR)
-Mostly online growth
DB Ad Exchange (G&R):
-3K integrated sites
-1B online ads served
-Customers: multi-nationals & leading domestic co's
No presence of $FB or $GOOGL (Capital controls)
Ad Market: $1.2B market est. $3.5B (2.6x) by 2025 (24% CAGR)
-Mostly online growth
DB Ad Exchange (G&R):
-3K integrated sites
-1B online ads served
-Customers: multi-nationals & leading domestic co's
10/ Internet Domination
DB procuring 6th nat'l pmt license -> Payments app to be built into Messaging
Raising Series A to launch Messenger - core of the Super App
Network effects drive user base, scale, and profitability
Asset light model - already +40% EBITDA margins
DB procuring 6th nat'l pmt license -> Payments app to be built into Messaging
Raising Series A to launch Messenger - core of the Super App
Network effects drive user base, scale, and profitability
Asset light model - already +40% EBITDA margins
11/ Conclusion
DB is positioned to be the Tencent of Bangladesh by building out the country's digital infrastructure
Bangladesh is the fastest growing SA economy (7th largest pop in world)
The "Nest" = sustainable competitive advantage
Potential 10-year IRR is off the charts
DB is positioned to be the Tencent of Bangladesh by building out the country's digital infrastructure
Bangladesh is the fastest growing SA economy (7th largest pop in world)
The "Nest" = sustainable competitive advantage
Potential 10-year IRR is off the charts
I am constantly looking for the most compelling return opportunities I can find in both private and public markets. DB checks all the boxes for me: Excellent 1) Management, 2) Fundamentals, 3) TAM
Thank you @skycthr8 for the opportunity and @KashefRahman1 for your great work!
Thank you @skycthr8 for the opportunity and @KashefRahman1 for your great work!
