Disha, the no-code platform designed for creatives and acquired by Flutterwave in 2021, will be temporarily ceasing operations as of March 31, 2024. The company has expressed the need to “reassess its objectives and realign its mission to more effectively serve the creative community” as the primary reason for this hiatus.
While the shutdown is described as temporary, Disha has not yet provided a specific timeline for when the platform will become operational again. The company stated, “We take great pleasure in offering tools that advance your creative endeavors, and taking this pause is essential for us to refocus our efforts.”
The impending closure will mean users temporarily lose access to their accounts and the data stored on them. Disha is utilized by over 100,000 creators, including content creators, influencers, artists, writers, and designers, to streamline their online presence. Users are encouraged to transfer their files and data to other platforms before the March 31 deadline. Furthermore, Disha has committed to refunding any existing subscription fees.
From closure to comeback: Disha’s unexpected return with Flutterwave.
This upcoming hiatus will mark the second instance of Disha temporarily halting its operations.
In February 2021, just two years after being founded by Evans Akanno, Rufus Oyemade, and Blessing Abeng, Disha, the no-code platform for creators, announced plans to cease operations by December 2022. The official reason cited for the impending shutdown was “shortfalls with the platform’s vision.” However, in an interview, Oyemade revealed, “We [the founders] decided to shut down the company because we lacked the resources needed to continue pursuing our very valid vision.”
Before this shutdown announcement, Abeng, who had joined Disha as a co-founder and chief marketing officer a year after its inception, departed from the company. She mentioned that her departure was “necessary as Disha evolved its dream and trajectory in a manner that no longer aligned with the vision I had committed to.”
Despite these challenges and vision misalignments, Disha did not proceed with the shutdown.
In a turn of events, in October 2021, about eight months after the initial announcement of its planned closure, Flutterwave acquired Disha. The terms of the deal were not disclosed. At the time of acquisition, Disha reported a monthly growth rate of approximately 100%, having bootstrapped to over 20,000 users.
Olugbenga Agboola, co-founder and CEO of Flutterwave, commented on the acquisition: “We viewed Disha as an opportunity to tap into a new market of indie creators in need of innovative tools to showcase their work and receive payment. This acquisition solidifies our role as a growth partner for freelancers and businesses alike. For us, Flutterwave Store is to small businesses what Disha is to creators.”
In its venture to penetrate the thriving $100 billion creator economy, Flutterwave not only expanded Disha’s reach but also enhanced its payment infrastructure to facilitate transactions in over 150 currencies across 34 countries. “The introduction of the new payment feature is set to empower creators, positioning them as significant contributors to the global creator economy,” stated Oyemade, Disha’s ex-CTO who transitioned to Flutterwave as the software and architectural lead for the no-code platform. Prior to this, Disha had depended on a US-based partner for its payment processing needs.
The acquisition, finalized during the height of the global non-fungible tokens (NFT) frenzy, allowed Agboola to highlight the potential for creators to leverage the upgraded payment infrastructure for trading their NFTs, even though the excitement around NFTs has diminished over time.
However, despite Flutterwave’s initial high hopes for Disha, it seems the company has reached a juncture where it needs to reevaluate its strategy for the platform. This reassessment comes after a period of silence on Disha’s progress, despite Flutterwave’s recent flurry of product-related announcements, culminating in the decision for a temporary halt of Disha’s operations.
As per his LinkedIn profile, Oyemade departed from the fintech unicorn in January 2023.
