April 7, 2022 · 2 min read
Ahead of the anticipation and arrival of the metaverse, alongside 3D avatars in VR, one can imagine the metaverse as a superapp, which is to say, at least part of the prophesied future of the metaverse is already here in apps like Yummy. Yummy is a superapp in Latin America, with operations in six different countries and services that include ordering restaurant takeout, transportation, medicine, groceries, e-event ticketing.
Superapps are an app paradigm unto their own, first popularized in China by the ubiquitous usage of Wechat, which is an immersive platform that includes a dating app, rideshare app, utility payments app, divorce service app, alongside its foundational social-messaging app. The stickiness of the ecosystem-first approach has inspired races to establish superapps in markets around the world with companies like Meta (formerly Facebook) trying to follow suit.
In short, superapps are a competitive and wildly lucrative industry to be building within, and Yummy is one of the fastest growing companies in Latin America. At the time of its Series A in October 2021, it boasted over 340,000 monthly transactions in Venezuela, 200,000 registered users, consistent growth over 35% from July 2021 to October 2021, and a network of over 5,000 drivers.
It also went through the YCombinator summer 2021 batch, and expanded beyond its initial offering of food delivery after hitting over 120,000 monthly orders in Venezuela. The team is looking to expand to the rest of Latin America, with the acquisition of last-mile logistics peer Yaigo, and has so far expanded to operations in Peru, Chile, Bolivia, and Panama.
UsageAI worked with Yummy to save about half of their AWS spend, and helped Yummy proactively get back the time that would otherwise be required of them in the scenario AWS/EC2 spend became unmanageable.
“It was really easy,” Yummy’s CTO, Ignacio Carillo-Batalla, said of the process. “We just had to configure some IAM roles to give access to the Usage team. Then we put that data into the UsageAI account. It just told us immediately how much we would be saving given our current instances”
Usage's buyback program, which automates the entire process of selling reserved instances (RIs), gave him the peace of mind in choosing to work with Usage and making the switch to RIs. Previously, Yummy was paying for On-Demand instances, and the time-consuming, complicated process of finding a buyer for Reserved Instances was something he wanted to avoid,
“It was like a no-brainer, basically…it’s amazing, just by just typing in some data and creating an account you can extend your runway.”
Copywriting and editing by Jessica Zhou
Kaveh is the Founder and CEO of www.usage.ai