Sources Intimate that Rocket Internet is preparing a Jumia IPO

Banking Crisis
Share this

Reuters sources have intimated that German start-up investor Rocket Internet (RKET.DE) is preparing its African online shopping platform Jumia for a possible New York listing in the first quarter of 2019 which could value the firm at about $1 billion. Citi (C.N), Morgan Stanley (MS.N) and Berenberg are coordinating the IPO, the sources said. Shares worth up to $250 million may be sold, one of the sources said, adding that no final decision about the timing or metrics of the deal had yet been taken. The investor and the banks…

Share this
Read More

Fintech Will Contribute $150 Billion to Africa’s GDP by 2022

Share this

The contribution of the financial-technology industry to sub-Saharan Africa’s economic output will increase by at least $40 billion to $150 billion by 2022, according to Financial Sector Deepening Africa, a development-finance organization. The industry currently employs about 3 million people directly and indirectly in the region, FSD Africa Financial Markets Director Evans Osano said in an interview on Thursday. Sub-Saharan Africa’s gross domestic product is about $1.6 trillion, according to data compiled by the International Monetary Fund. “If you look at the value chain, most of that money is coming…

Share this
Read More

Tinder parent company buys anti-Tinder dating app Hinge

Share this

Match Group, a massive online dating conglomerate, acquired Hinge today in a deal that gives the company a 51 percent stake in the app. Hinge initially marketed itself as a more welcoming version of Tinder in which users could only see potential matches who shared a mutual Facebook friend. The company then redesigned its app to get rid of all swiping features and in its place let users build out full profile pages. Hinge users can answer three questions about themselves, connect their accounts to their Instagram, and also upload multiple photos,…

Share this
Read More

Lyft makes it easier to track business travel expenses

Share this

Lyft  announced today that taking a business trip and then actually turning in your travel receipts just got a whole lot easier. A new feature for business profiles will allow employers to create a direct connection between employee trips and travel managers in charge of their reimbursement. While this integrated functionality is not new for the ridesharing company, it is the smoothest it has ever been. In 2016, Lyft launched its business profiles to allow users the ability to easily share receipts via their work emails. Then, in the summer of 2017, the company announced in-app integration…

Share this
Read More

Facebook entices content creators with new community-centered video platform

Share this

Facebook announced several new live video features today that will allow creators to make their live streams more like games with polls and quizzes. The features are similar to those that creators on YouTube have had access to for months through the recent addition of the Community tab. These new features could entice established creators to migrate to Facebook’s video platform. Facebook says these features will reinvent traditional entertainment formats as more “community-centric,” and it noted a trend in more collaborative video consumption that relies on audience participation. YouTube integrated polling…

Share this
Read More

Instagram’s Video Hub Dubbed IGTV Set to Launch Tomorrow

Share this

The Instagram longer-form video hub that’s launching tomorrow is called IGTV and it will be part of the Explore tab, according to multiple sources. Instagram  has spent the week meeting with online content creators to encourage them to prepare videos closer to 10-minute YouTube vlogs than the 1-minute maximum videos the app allows today. Instagram is focusing its efforts around web celebrities that made their name on mobile rather than more traditional, old-school publishers and TV studios that might come off too polished and processed. The idea is to let these creators,  who have a knack for this…

Share this
Read More

Gaming Disorder Officially Recognized by WHO

Share this

For most of us, a round or three of Fortnite can serve as a playful escapism. But for a small number of people, the World Health Organisation is warning gaming is developing into an unhealthy addiction. The United Nations’ health agency for the first time listed gaming as an addictive behaviour disorder in its latest international classification of diseases, the ICD-11. The disorder, a “genuine” and “harmful” mental health condition, can also contribute to other problems such as lack of physical activity, an unhealthy diet, sleep deprivation and aggressive behaviour. “What…

Share this
Read More

Twitter prioritizes breaking news in an app redesign

Share this

Online news and social networking service, Twitter, announced  that it is changing up its service in favour of major events to make it easier for people to access the latest breaking news. This shift in focus sets the service apart from other social media networks such as Facebook who have opted to focus less on live events and news and more on the personal lives and interests of its user base. In terms of what they’re changing, the  app will now feature a “happening now” module to highlight all kinds…

Share this
Read More

Blockchain technology may play a major role in equalizing American cities

Share this

The city of Austin is currently piloting a program in which its 2,000 homeless residents will be given a unique identifier that’s safely and securely recorded on the blockchain. This identifier will help individuals consolidate their records and seek out crucial services. Service providers will also be able to access the information. If successful, we’ll have a new, more efficient way to communicate and ensure that the right people are at the table to help the homeless. In Austin and around the country, it seems that blockchain technology is opening a range…

Share this
Read More

Facebook’s new AI research is a real eye-opener

Share this

There are plenty of ways to manipulate photos to make you look better, remove red eye or lens flare, and so on. But so far the blink has proven a tenacious opponent of good snapshots. That may change with research from Facebook that replaces closed eyes with open ones in a remarkably convincing manner. It’s far from the only example of intelligent “in-painting,” as the technique is called when a program fills in a space with what it thinks belongs there. Adobe in particular has made good use of it with its…

Share this
Read More