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LATEST TECH NEWS: Intel moves to buy urban mobility platform Moovit in a $900M deal. 4 other things and a trivia you need to know today, May 5, 2020

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These 5 latest stories from the tech space will keep you updated with trends today.

1. Intel moves to buy urban mobility platform Moovit in a $900M deal

LATEST TECH NEWS: Intel moves to buy urban mobility platform Moovit in a $900M deal. 4 other things and a trivia you need to know today, May 5, 2020

A deal that values urban mobility platform Moovit at $900 million is close to signing as Intel moves to fulfil terms. This comes as move, by Intel, to grow its automotive division. According to industry reports, the chip giant is acquiring Moovit, an Israeli startup previously backed by Intel that analyses urban traffic patterns and provides transportation recommendations with a specific focus on public transit.

Valued at $900 million, Intel, against the backdrop of its existing stake in the company, will have to pay $840 million to fulfil terms of the transaction. In business, Moovit provides traffic data to third parties — including Intel itself, Uber and 7,500 transit authorities — and it also has a popular app with 800 million users globally.

2. Zeitgold closes $29.2M investment to automate bookkeeping

LATEST TECH NEWS: Intel moves to buy urban mobility platform Moovit in a $900M deal. 4 other things and a trivia you need to know today, May 5, 2020

With a mission to automate bookkeeping for companies, Zeitgold has raised a Series B round of $29.2 million, pushing the overall raiser of the company to something over $54 million. This new fund is expected to see Zeitgold through its idea of building a software platform for small companies to automate bookkeeping as much as possible.

According to press report detailing the raiser, Vintage Investment Partners led the round with participation from existing investors such as Battery Ventures, HV Holtzbrinck Ventures, Saban Ventures, btov Partners, AXA Innovation Campus and Deutsche Bank. Startup analysts have noted that Zeitgold success in the raiser reflects its scalability as it looks to automate bookkeeping, a very daunting task that often make administrative and corporate management messy.


Tech Trivia:

In 2002, what e-commerce company acquired PayPal?

A. Amazon
B. Konga
C. eBay
D. Jumia

Answer: See end of post.


3. Facebook’s Oculus steps in to develop smaller, lighter VR headset

LATEST TECH NEWS: Intel moves to buy urban mobility platform Moovit in a $900M deal. 4 other things and a trivia you need to know today, May 5, 2020

Although, facing a significant delay owing to the ripple effect of the pandemic that has crippled the global economy, Facebook’s Oculus division has announced building a new version of its Quest standalone virtual reality headset. According to the Mark Zuckerberg-led company, its developers are working on multiple potential successors to the Quest.

Read also: LATEST TECH NEWS: Nigeria’s Helium Health closes $7m funding round. 4 other things and a trivia you need to know today, May 4, 2020

Reports on the development progress of the product have noted that some of its models, which are already in advanced testing stage, are smaller, lighter and have a faster image refresh rate for more realistic content. When it hits the market, these headsets will come with redesigned controllers, and other different features. According to earlier plans, Facebook looks forward to launch the new model at the end of 2020, a plan that might change due to the coronavirus outbreak.

4. S. Africa’s Zoona sells its Malawian assets as it refocuses on B2B

LATEST TECH NEWS: Intel moves to buy urban mobility platform Moovit in a $900M deal. 4 other things and a trivia you need to know today, May 5, 2020

South Africa’s fintech startup Zoona has eventually played to the market, selling its Malawian operational assets to global money transfer group Mukuru. According to reports, Zoona did this to scale down its over-the-counter money transfer business in a bid to focus on B2B.

With business operating in Malawi, Mozambique and Zambia, Zoona, according to company blueprint, provides financial services through its mobile money platform, and offers emerging entrepreneurs an opportunity to provide money transfers and financial services to low-income consumers through its network of over mobile money agents. On clear grounds, the company passes on its operational assets and the technology systems that support its operations in Malawi to Mukuru, an international money operator and remittance company.

5. Kenyan TIBU launches on-demand primary outpatient care service

LATEST TECH NEWS: Intel moves to buy urban mobility platform Moovit in a $900M deal. 4 other things and a trivia you need to know today, May 5, 2020

Kenyan e-health startup TIBU has launched as a new digital platform that decentralises primary outpatient care. This makes it possible to take caregiving services directly to patients, wherever they may be. According to the startup milestone chart, the idea was conceived in 2016, but wasn’t built until 2019. Reports noted that the building lead to the public launch earlier this year.

Today, TIBU, operates as an on-demand platform that connects people to healthcare workers in real-time, who deploy to a location and time of the patient’s choosing. According to Jason Carmichael, TIBU’s chief executive officer (CEO) and co-founder, the company’s health workers are deploy with patent-pending health kits to ensure that all services found in a clinic are delivered in the comfort of peoples’ homes, including labs and diagnostics.

Tech Trivia Answer: eBay

Established in 1998 as Confinity, PayPal had its initial public offering in 2002, and became a wholly owned subsidiary of eBay later that year. eBay spun off PayPal in 2015. The company ranked 204th on the 2019 Fortune 500 of the largest United States corporations by revenue.

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