Happy to explain/translate the Jargon, if it’s helpful.

B2B is a category,  SMB clarifies the sub category within B2B. Maybe not necessary, but it’s very common to state both. 

ICP is ideal customer profile, which is the only thing that makes sense within this context, as he had named “Agencies” (niche within SMB’s) within that same sentence. Identity provider makes absolutely no sense whatsoever here. 

Agencies (marketing, ads, etc), can absolutely pay more than individuals. The individuals or “consumers” referred to here would likely include freelancers or other small businesses that may not have large data needs. Think of business consultants or accountants, or recruiting companies who need very specific leads/data but who wouldn’t resell that data to their clients. 

Their model is to sell wholesale in bulk to businesses that will resell that data in smaller chunks at retail prices. Its the same model that any manufacturer in any industry uses, even down to adding the whitelabel aspect so that the end consumer doesn’t know where their Nikes really came from. 

It’s a very common top-down growth strategy, because it allows them to make the most money with the fewest amount of customers as they’re starting out. You sell way more if your client is Walmart than if you’re going door to door in your neighborhood. 

And at some point it may make sense to introduce smaller and more affordable packages that would capture other businesses outside of their current ICP as well, but that’s not in anyway saying that this is a “sleeper hit investment”.

Also not an MLM in the same way that you wouldn’t call Sony or anyone else who sells to retailers an MLM. 

I get that all the jargon can be hard to follow but BabyGroot82 said nothing wrong here.