Mdundo reaches 6 million users

This is according to the company’s new quarterly update, which was released last week. The company’s user total has soared by 144% year-on-year with significant growth in East, West and southern Africa.

Mdundo says it expects its revenues to grow by 150% in the current financial year, although the exact numbers have not been disclosed. It is also hoping to grow to reach between 8.5 and 9 million monthly users next year, and to further increase that figure to 18 million by 2022.

The Mdundo sales team in Kenya also inked B2B advertisement deals with global and pan-African brands like Safaricom, Standard Chartered, Nivea, Oxfam and Serengeti. The online advertisement market in sub-Sahara Africa is expected to grow to $937m by 2022.

In July, Mdundo released an improved version of its Android app. Its Google Play Store ranking increased from 3.99 of 5 starts in the last financial year to 4.26 in the first quarter of this financial year.

The company is also working on its first partnership with a telco, which it hopes to announce before the end of the year. It says it is also in the process of ramping up its management team, and has not been affected by the COVID-19 pandemic.

In other news, Google says it now has more than 30 million YouTube Music subscribers, a jump from 20 million last year. The announcement was made during Google’s Q3 earnings call last week.

Additionally, YouTube TV users increased to 3 million customers, up from 2 million in the same period last year. However, the music streaming platform lags behind Apple’s estimated 60 million Apple Music subscribers and Spotify’s 113 million paying subscribers. Google officially shut down its Google Play Music (GPM) service last week.