We’ve been of the opinion that the only way to sustainably serve the poor is to see them as customers. Our research supported this conclusion. Here is a story from HuffPost about some people who are putting USD 8 million behind this idea. There is actually more. A team of technology veterans has raised $8 million for one of the first funds making early-stage investments in companies meeting the basic needs of low-income customers at the base of India’s economic pyramid.
Rarely do I do two posts off one story, but this story seems to deserve more than one. Venture capitalists are eager to get in on the mobile trend. According to the research firm CB Insights, mobile apps and companies attracted 10 percent of the total investment dollars from American venture capital firms in last year’s fourth quarter, and 12 percent of deals were mobile-related, up from 7 or 8 percent in previous quarters.