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This article attempts to answer the following question: How do the different elements of ICT-based social start-ups’ business models evolve over time in a country in transition like Senegal? Thanks to an in-depth study of ten ICT-based social start-ups in Senegal, we observe that the business model evolves across different stages of development, and the value proposition can evolve in three ways: 1) the adaptation of the offer by modifying or changing it; 2) the enrichment of the starting offer, in particular by the addition of secondary services; and 3) the creation of a new offer—which may or may not be linked to the original offer—for the existing target or for a new target. Furthermore, it appears that the Senegalese social business model has not yet reached the stage of maturity of a French company’s social business model.