Spotify in advanced talks to acquire Gimlet Media for over $200

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Spotify is in talks to acquire Gimlet Media, one of the leading podcast production houses. If this deal completes, it will signify a major change in the trajectory of podcasting as an industry. The significance of the deal goes well beyond that of the eye-opening $200 million valuation being discussed. Gimlet has raised approximately $28.5 million in venture funding from investors including WPP, Stripes Group, LioneTree Partners, Graham Holdings, Betawarks, Cross Culture Ventures, and Lowercase Capital. Two years ago, the startup was reportedly valued at roughly $70 million. Podcasting has…

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Andela Secures $100M Series D Funding to Build Distributed Eng. Teams and Power its work

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Andela the company building distributed engineering teams with Africa’s top software developers, today announced the completion of a $100M Series D funding. The round was led by Generation Investment Management with participation from existing investors including Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital. The most recent financing brings Andela’s total venture funding to $180M. Andela was founded in 2014 to connect Africa’s engineering talent with the demand for software developers worldwide. With the Series D funding, Andela will accelerate the development of its technology platform to identify,…

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Pesapal starts Payment processing for low cost Kenyan Airlines

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Pesapal has this year started processing payments for low cost carriers in Kenya. Jetways Airlines, Silverstone Air and Skyward Express will from now on use Pesapal’s integrated payment system to process Mpesa, Visa, mVisa, MasterCard and American Express payments on their respective websites. This not only gives travellers the freedom to pay conveniently for their flights but also makes it easier for airlines to track payments and traveller flight information. These airlines join African Express Airways in Kenya and Eagle Air in Uganda showing Pesapal’s growth as a payment processor…

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Apple suffers biggest single-day loss in 6 years

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The Dow Jones Industrial Average tumbled more than 660 points as Apple stock dropped nearly 10 percent – the biggest single day decline for the company since 2013 – just one day after it slashed its revenue forecast. Shortly after spooking Asian and European investors, CEO Tim Cook’s bombshell announcement rocked Wall Street on Thursday. The drop marked the worst start to a year for both the S&P 500 and the Dow since 2000, while for the Nasdaq it was the weakest start since 2005, according to Market Watch.  The…

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The gift that keeps on taking, Bitcoin sinks again… below $4,000

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The blood letting is not stopping soon as Bitcoin plunges once again over the weekend and is now trading for less than $4,000 for the first time since September 2017. The cryptocurrency fell to as low as $US3,519.94($4,874) on the Bitstamp platform, after earlier falling to a 14-month low of $3,462,57. It has lost 74 percent of its value so far this year, after hitting nearly $20,000 in December last year. Most other cryptocurrencies are faring just as poorly or worse, and in total, more than $700 billion in market…

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Tether burns 500 million Tether coins (USDT) to reduce circulation

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Tether has announced the destruction of 500 million Tether coins (USDT). The cryptocurrency issuer said this week that “Tether has redeemed a significant amount of USDT from the circulating supply of tokens.” “In line with this, Tether will destroy 500m USDT from the Tether treasury wallet and will leave the remaining USDT (approx 466m) in the wallet as a preparatory measures for future USDT issuances,” the company added. Tether said that the coin reserve’s destruction, which is a move not often seen in the cryptocurrency space, is in line with…

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17 Canadian federal depts. and agencies failed basic tests for credit card data security

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The Canada Revenue Agency, the RCMP, Statistics Canada and more than a dozen other federal departments and agencies have failed an international test of the security of their credit card payment systems. Altogether, half of the 34 federal institutions authorized by the banking system to accept credit-card payments from citizens and others have flunked the test — risking fines and even the revocation of their ability to accept credit and debit payments. Those 17 departments and agencies continue to process payments on Visa, MasterCard, Amex, the Tokyo-based JCB and China…

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MultiChoice Shouts for Netflix to be regulated, Blames itself for not innovating

A message Netflix gave Verizon home Internet customers during a money dispute in 2014.
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Pay-TV operator MultiChoice lost more than 100,000 premium subscribers in the previous financial year. CEO Calvo Mawela attributed this loss of business to unregulated competition from video-streaming company Netflix, saying it had an unfair advantage as it was not under any regulatory pressure in SA. The pay-TV operator that continues to bleed subscribers, is fighting tooth and nail to remain relevant amid tough competition from online streaming services. However, MultiChoice, which owns DStv, said it was aware that failure to adapt its business model could make it a victim of…

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Twitter Bans Cryprtocurrency ads.

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Twitter has began blocking cryptocurrency-related ads. The move follows other social media platforms like Reddit back in 2016, and more recently, Facebook and Google, which have already banned cryptocurrency ads. “We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency,” the company says. “Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.” Rumors initially circulated a week ago that Twitter would ban such ads. Earlier this…

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Laundered Bitcoin Billions Linked to UK Company

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A UK company has been linked to the laundering of 650,000 stolen bitcoins worth £4.5bn.The coins were taken by hackers from Tokyo-based Bitcoin exchange Mt Gox, leaving tens of thousands of customers out of pocket. It’s not clear who is in control of the London-based firm Always Efficient LLP. Mt Gox operator Mark Karpeles apologised to investors and said he was co-operating with the investigation. The FBI has charged a Russian national with laundering the stolen bitcoins. Mt Gox matched up those who wanted to buy the crypto-currency with dollars,…

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