In our increasingly digital world, access to online information, entertainment, and software tools has become essential. However, the rising costs of digital subscriptions like Netflix, Spotify, and Microsoft 365 create barriers, widening the global inequality gap. But a Lagos-based startup has an ingenious solution.
Meet MySub.io – the innovative platform empowering users to collectively access and share subscription costs for their favorite digital services. By pooling resources through seamless expense splitting, MySub reduces the individual financial burden, making premium content and tools more affordable and accessible to all.
The Problem MySub Solves:
Managing shared digital subscription costs is a major pain point. Lack of effective tools leads to tedious manual tracking, payment coordination issues, confused billing, and even strained relationships among co-subscribers. MySub eliminates these frustrations with its specialized subscription sharing solution.
“Our mission is to democratize access to the world’s digital content and tools through collaborative cost-sharing,” explains Obodugo Raphael, CEO and co-founder of MySub. “No one should be shut out from educational resources, entertainment, or productivity tools simply because they can’t afford the full subscription price alone.”
How It Works:
MySub’s platform allows users to easily create shared subscription groups for any digital service like Netflix, Masterclass, Adobe Creative Cloud and more. Members can conveniently contribute their portion of the cost through the app. MySub’s technology automatically divides the total subscription fee, charges users their share plus a 15% service fee, and handles all payment processing seamlessly.
For example, a group of five friends using MySub to share a $10/month Netflix subscription would each pay only $2.25 monthly – a fraction of the full $10 price. MySub collects the total $11.25 (subscription cost + service fee) from the group’s pooled contributions.
The startup has gained rapid traction since launch in January 2023, growing to over 50,000 users across 10 countries and facilitating over $60,000 in annualized subscription revenue sharing in just over a year. Metrics include:
- 50,052 total users
- 31% month-over-month user growth
- $5,000 monthly recurring revenue
- 95% user satisfaction rate
“Before MySub, the solutions for sharing subscription costs were clunky and caused constant frustration,” said Zacchaeus Bolaji, the startup’s CTO and co-founder. “Our platform makes it effortless to collectively access your favorite services at a discount while avoiding all the headaches of self-managed payment splitting.”
More Than Just Streaming
While the consumer entertainment subscription market is an obvious use case, MySub’s potential extends far beyond video streaming. The platform allows affordable group access to eLearning courses, productivity software, cloud storage, premium content publishers, and more.
“Digital subscription sharing has the power to uplift economic and educational opportunities in underserved regions by democratizing access to knowledge and tools,” explained Nelson Izah, MySub’s Business & Growth Lead. “We’re fostering digital skill development, employment readiness, and entrepreneurship – especially for youths across Africa.”
By allowing users worldwide to pool their resources through MySub, the startup is tackling the United Nations’ Sustainable Development Goal 10 of reducing inequalities within and between countries. Facilitating collaborative subscription access is just the start of MySub’s grander vision.
A Passionate, Mission-Driven Team
Behind MySub’s innovative solution is a diverse team united by their passion for empowering underserved communities through technology access and economic opportunities.
Co-founders Elina Glubert (COO), Obodugo Raphael (CEO), and Zacchaeus Bolaji (CTO) meticulously combined their complementary skills in business operations, engineering, design, and product strategy honed from their Computer Science studies at the University of Nigeria, Nsukka and early career trajectories.
Their enduring friendship stemming from a shared drive to create social impact formed the foundation and trust to bring their vision of MySub to life. Now, their well-rounded team spans expertise in engineering, business, marketing, and customer experience – all dedicated to MySub’s mission.
What’s Next
MySub is poised for rapid expansion and user growth. The team will be doubling their engineering staff, launching localized mobile apps, focusing more on scaling up marketing and investing in enhanced subscription discovery and recommendation features.
Their longer-term roadmap aims to support subscription bundling across multiple services, enabling highly affordable access to customized “subscription packs” tailored to each user’s interests.
By championing collaborative consumption over individual ownership of digital access, MySub is pioneering an innovative model that reduces inequalities through the power of the sharing economy. As Raphael stated, “We envision a world where no individual is priced out of the invaluable knowledge, skills, and enrichment that digital subscriptions provide – because collectively, access becomes attainable for all.”
The digital subscription economy is ripe for disruption, and MySub is leading the charge. This African startup is one to watch as a driving force in making the internet’s premium content and tools universally affordable and accessible worldwide.
