Africa Roundup: Jumia’s post-IPO earnings, Gokada’s $5.3M raise, Facebook’s fake-news purge, Joe Montana’s fintech investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value (GMV) — the total amount of goods sold over the period — grew by 58% to €240 million. Marketplace revenue […]

Fastly, the content delivery network, files for an IPO

Fastly, the content delivery network that’s raised $219 million in financing from investors (according to Crunchbase), is ready for its close up in the public markets. The eight-year-old company is one of several businesses that improve the download time and delivery of different websites to internet browsers and it has just filed for an IPO. […]

Amazon launches a certification program for Alexa skill developers

Developers building voice-enabled applications for Amazon Echo and other Alexa-powered devices will now have a new way to validate their abilities, with Amazon’s launch of a new AWS Certified Alexa Skill Builder – Specialty certification. This is the first time Amazon has offered a certification program for Alexa developers, the company says. Certification programs are […]

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 […]

On balance, the cloud has been a huge boon to startups

Today’s startups have a distinct advantage when it comes to launching a company because of the public cloud. You don’t have to build infrastructure or worry about what happens when you scale too quickly. The cloud vendors take care of all that for you. But last month when Pinterest announced its IPO, the company’s cloud […]

Former Facebook engineer picks up $15M for AI platform Spell

In 2016, Serkan Piantino packed up his desk at Facebook with hopes to move on to something new. The former Director of Engineering for Faceboook AI Research had every intention to keep working on AI, but quickly realized a huge issue. Unless you’re under the umbrella of one of these big tech companies like Facebook, […]

AWS makes another acquisition, grabbing TSO Logic

AWS has been on a mini shopping spree since the first of the year. First it picked off Israeli disaster recovery startup CloudEndure last week. This week, it was TSO Logic, a Vancouver startup that helps companies make the most efficient use of cloud resources. The companies did not share the purchase price. Amazon confirmed […]

Amazon reportedly acquired Israeli disaster recovery service CloudEndure for around $200M

Amazon has reportedly acquired Israeli disaster recovery startup CloudEndure. Neither company has responded to our request for confirmation, but we have heard from multiple sources that the deal has happened. While some outlets have been reporting the deal was worth $250 million, we are hearing it’s closer to $200 million. The company provides disaster recovery for cloud […]

Amazon debuts a scale model autonomous car to teach developers machine learning

Amazon today announced AWS DeepRacer, a fully autonomous 1/18th-scale race car that aims to help developers learn machine learning. Priced at $399 but currently offered for $249, the race car lets developers get hands-on — literally — with a machine learning technique called reinforcement learning (RL). RL takes a different approach to training models than […]

Building a great startup requires more than genius and a great invention

Shahin Farshchi Contributor More posts by this contributor Investing in frontier technology is (and isn’t) cleantech all over again The dos and don’ts of crafting frontier-tech companies Many entrepreneurs assume that an invention carries intrinsic value, but that assumption is a fallacy. Here, the examples of the 19th and 20th century inventors Thomas Edison and […]