“We’re just trying to be the onchain Apple.”
This is a great quote.
James Zhang said this to Empire host Santiago Santos during a bonus episode of Empire last week.
If you’re not familiar with Jambo, it is an Onchain mobile network. Zhang’s comments about giving everyone access to the digital world really struck me.
Jambo has the largest user base in Latin America. Zhang originally thought the biggest user base would perhaps be Africa, but that hasn’t been the case…yet.
As Santos noted, “the next JPMorgan doesn’t look like JPMorgan. It looks like an MVNO with fintech services layered on top.”
The integrations should be available digitally, without the need to visit a branch of a bank, for example.
Jambo’s goal is to not only reach users, but also ensure they remain loyal like I am. This is where crypto can help.
Zhang and I spoke earlier in the week. I was interested to know how he would classify Jambo. Is this a DePIN code? Does it mean more than that?
How can I not be nosy? I am paid for it.
We’ll start by going over the basics. Jambo has been around for a long time, and raised its last capital in 2022 from a few big VCs. If you’re interested in being specific, Pantera and Paradigm led the round.
Zhang admits that there was a completely different market in 2022 compared to today, and his team is working very hard. Jambo’s reception was still positive in 2022. “great,” Zhang noted. The Latin American and African markets are primed for disruption by a phone that’s radically different. “censorship resistant.”
Jambo Zhang and Jambo had to leave the company after 2022. “cockroach mode” The bear survived. Now, here we are, the other end.
Zhang admitted that he would not turn down an opportunity to raise another amount, particularly because this market is more difficult than a bear-market.
“The reason is because in the bear market, we had already raised funding. We had already built our team, and [then] it was just shipping product. And honestly, there weren’t as many … you could say distractions, and … macro is distractions. But when one memecoin gets launched and sucks 90% of liquidity, it’s a little tough on the rest of the market or any narrative, so for us, we just honestly want to see more stability going into a token launch,” I heard him tell me.
Zhang stated that Jambo has never been branded specifically as DePIN, though it clearly contains elements from that brand given the fact that Jambo offers hardware and network.
“If you take our entire network together, it becomes one of the largest DePIN networks that users can tap into,” “He said”
Since it is their speciality, he would prefer that you view them as consumer products. They launched their satellite service earlier this week, in addition to the hardware. “connect all 700,000-plus devices,” “He said”
Zhang may not be that far away from his goal of becoming the Apple on Chain.
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