Customer Hero Malian Chicken Farms:
Problem: No price markets for wholesale chickens to allow for fixed price sales which prevented banks from lending money. Middle men would rip off poorer farmers as no online prices did not allow for price transparency.
Solution: Created online agriculture exchange market to deliver online chickens and fix prices with mini commodity futures. Sales ended up growing 10% YOY while the industry was down 10% YOY.
The solution produced the world’s first Wall Street grade agriculture exchange to the mobile phone which has enabled Malian farmers to fix prices and receive micro-loans from investors as the price uncertainty has been removed, just like farmers in Western markets.
