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Uber is paying $3.1BN to pick up Middle East rival Careem

sudshr47 March 26, 2019

After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Careem was founded as a ride-hailing rival to Uber in 2012 but has […]

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African e-commerce startup Jumia files for IPO on NYSE

sudshr47 March 12, 2019

Pan-African e-commerce company Jumia filed for an IPO on the New York Stock Exchange today per SEC documents and confirmation from CEO Sacha Poignonnec to TechCrunch. The valuation, share price, and timeline for public stock sales will be determined over the coming weeks for the Nigeria headquartered company. With a smooth filing process, Jumia will […]

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Nigeria’s Gloo.ng drops consumer e-commerce, pivots to e-procurement

sudshr47 March 11, 2019

Nigerian startup Gloo.ng is dropping consumer online retail and pivoting to B2B e-procurement with Gloopro as its new name. The Lagos based venture has called it quits on e-commerce grocery services, shifting to a product that supplies large and medium corporates with everything from desks to toilet paper. Gloopro’s new platform will generate revenues on […]

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Africa Roundup: Local VC funds surge, Naspers ramps up and fintech diversifies

sudshr47 November 6, 2018

Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor Tarform debuted new e-motorcycles but is there a U.S. market? Naspers announces $300 million initiative to support startups and tech in South Africa Africa’s VC landscape is becoming more […]

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African financial technology startups move beyond payment services

sudshr47 October 5, 2018

Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor African financial technology startups move beyond payment services Africa Roundup: Paga goes global and 4 startups raise $99M in VC If mobile money was the first phase in the […]

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