Super apps are an #ecosystem concept developed all the way đŻ. They are the most valuable companies in that market.
Because users can do many things in one app, average daily time users spend on WeChat is almost 3x of that spent on Facebook, Instagram or TikTok.
This stickiness drives #growth, monetization and competitive moat.
Super apps are typically built on top of one of 3 high frequency use cases:
âïž social
âïž payments
âïž transportation.
There havenât been many successes in the West with super apps yet, maybe apart from đ Uber.
In Q1 2022, UberEats overtook mobility:
â»ïž Mobility ( bookings): $10.7 billion
â»ïž Delivery (bookings): $13.9 billion
đĄ But things most certainly will change. In the last few years Meta, Amazon, Apple and Google have hired hundreds of people from superapps, like Wechat and Alibaba.
One of the potential paths to success for Twitter [post acquisition] is to become a super app.
đ Elon Musk said in one of the recent interviews that he sees a potential of an all-encompassing app that includes digital town square, payments and more.
Slides: Scott Galloway
P. S. We discussed #partnerships strategies of superapps like Alibaba, Grab and WeChat in several episodes of our YT channel.