African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec confirmed the IPO to TechCrunch and Jumia filed SEC documents. With the public offering, Jumia becomes the first startup from Africa to list on a major global […]

Africa Roundup: Jumia files for IPO, OneFi acquires Amplify, FlexClub expands in Mexico

Less than a decade ago IPOs, acquisitions and global expansion by African startups were more possibility than reality. March saw all three from the continent’s tech scene. Pan-African e-commerce company Jumia filed for an IPO on the New York Stock Exchange, per SEC documents and confirmation from chief executive Sacha Poignonnec. In an updated filing, […]

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

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. Uber writes that it expects the transaction to close in Q1 2020, pending […]

African e-commerce startup Jumia files for IPO on NYSE

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 become […]

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

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 a […]

Amun raises $4M to give stock-like buying options for crypto investors

Crypto represent a “border-less” asset that anyone can own, but actually getting hold of it isn’t easy for everyone. Amun, a company that wants to make buying crypto as easy as stock, has pulled in $4 million in funding to offer more established channels for crypto ownership. The startup currently offers punters an ETP (exchange-traded […]

Facebook is not equipped to stop the spread of authoritarianism

Yael Grauer Contributor Yael Grauer is an independent tech journalist and investigative reporter based in Phoenix. She’s written for The Intercept, Ars Technica, Breaker, Motherboard, WIRED, Slate and more. After the driver of a speeding bus ran over and killed two college students in Dhaka in July, student protesters took to the streets. They forced […]

Egypt and Thailand: When the military turns against free speech

Wael Abbas, a human rights activist focused on police brutality in Egypt has been under arrest since May on charges of spreading fake news and “misusing social media.” Andy Hall, a labor rights researcher, has been fighting charges under Thailand’s computer crime laws because of a report published online that identified abuses of migrant workers. […]