In the realm of e-commerce, success stories are often marked by determination, innovation, and the courage to embrace challenges.
One such inspiring tale is that of Mathew Kipng’eno, the founder of Air Soko.
This is his story, as told by WoK:
Early Life and Education
Kipng’eno’s journey began in Moiben, Uasin-Gishu County, where he grew up as the third born in a family of four.
He pursued his education diligently, attending Chebara, Immaculate Heart of Mary, and ST. Marcel Ray Farm primary schools.
After completing his high school studies at Nairobi School and passing his KCSE exams, he decided to pursue a Bachelor of Science in Nursing (BScN) at Uzima University, currently in his third year.
Mathew’s entrepreneurial spirit started to take shape during his primary school days when he conceptualized his first business venture.
This early exposure to the world of business ignited his curiosity and passion for innovation and value addition.
In 2019, after researching several business ideas, Mathew focused on the untapped potential of the e-commerce sector in Kenya and Africa.
Air Soko
In mid-2020, Mathew, along with his brother Dennis Kibiwott, embarked on their e-commerce journey with a dropshipping business model.
Using WordPress technology, they launched their first operational e-commerce business, which offered a wide range of products.
This experience allowed them to gain proficiency in various aspects of e-commerce, such as web creation, marketing, and operations.
From April 2022, Mathew and his team began developing their own e-commerce technology systems to create a more flexible and scalable platform.
By September 2022, Airsoko was born, and on November 25th, 2022, it officially started serving customers in Kenya and beyond, offering cross-border services.
Products and Services
Airsoko’s marketplace caters to both buyers and sellers. For buyers, it offers a diverse range of products from various categories, including physical products, digital products, licenses, and services.
Sellers can list unlimited products on all plans, enjoy flexible marketplace fees (commission-based or subscription-based), and access marketing tools and integrations.
Moreover, Air Soko offers free and premium apps like Airsoko Shopmaster, which facilitates data migration and imports from other systems or marketplaces, making it an attractive option for drop shippers and affiliates.
Achievements
Since its inception, Air Soko has made remarkable progress, acquiring thousands of regular customers and attracting 87 sellers and counting.
However, like any entrepreneurial journey, it has not been without challenges.
Being roughly one year into business and without external funding, strategic campaign execution and logistics have posed hurdles.
Staying Ahead of Competition
According to the 22-year-old founder, Airsoko’s main competitors are Jumia and Kilimall.
In this competitive market, Air Soko aims to distinguish itself through affordability, quality products, buyer protection strategies like Airsoko Guarantee, cross-border services, and prompt delivery.
For sellers, the platform emphasizes flexible commerce options, favorable commissions, and access to apps, tools, and channels for maximizing sales and informed decision-making.
Lessons Learned
In managing staff, customers, and stakeholders, Mathew emphasizes the importance of trust, patience, mentorship, and open-mindedness.
For customers, perfect customer service, consistency, and reliability are key. For stakeholders, partnership benefits and capabilities are crucial.
Airsoko’s vision is to become a dominant force in Kenya, East Africa, and the entire continent as an e-commerce and innovation powerhouse.
Their goal is to be the leading online and offline employer, providing top-notch customer service while expanding their SaaS and PaaS sub-service program to include a broader variety of Airsoko Solution Apps.
Challenges
One major challenge Air Soko faces is the impact of increased taxes on small and medium businesses, particularly in the online space.
To foster a conducive business environment, Mathew hopes for a reasonable reduction in taxes or a more supportive taxing scheme to facilitate steady growth.
To enhance their ecosystem and customer satisfaction, Air Soko plans to establish a modern warehouse and connected logistics services, extending their reach to neighboring countries while utilizing the Africa Free Intra-Continental Trade Area (AFCTA).
Mathew’s biggest fear in business is stagnation and high burn rates. To avoid this, he emphasizes continuous innovation, adaptability, and staying attuned to market dynamics.
Outside of business, Mathew finds joy in adventure hiking and epic traveling. His dream car, the Maserati MC20, symbolizes the heights he aspires to achieve in his entrepreneurial journey.
Advice to Young Entrepreneurs
To young entrepreneurs, Mathew offers a valuable piece of advice: Start your business as soon as you are ready, armed with at least 70% knowledge about the venture.
Embrace learning through action, as experience, strategizing, and facing challenges head-on are the building blocks of success.
