LATEST TECH NEWS: Snapchat takes action against President Trump. 4 other things and a trivia you need to know today, June 4, 2020

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

1. Snapchat takes action against President Trump

In what is seemingly playing out as a planned, unified development from social media platforms to taunt the U.S. President; multimedia messaging app Snapchat has joined the list of platforms disapproving actions of the White House President, Donald Trump. Snapchat announced it will no longer promote President Donald Trump’s account on its video-sharing platform, alleging that the president has joined a list of individuals inciting racial injustice.

Speaking on this development, Snapchat spokesperson informed that its platform disassociates completely from anyone promoting violence as it doesn’t belong to its vision of creating a peaceful society. He said: “We will not amplify voices who incite racial violence and injustice by giving them free promotion on Discover. Racial violence and injustice have no place in our society, and we stand together with all who seek peace, love, equality, and justice in America.”

2. Aptive Capital opens application for $10k investment pitch

US investor Aptive Capital has opened application for startups looking for investment of $10 000 after emerging among 5 best in a virtual pitching contest. In its announcement, the VC firm noted that it looks to support entrepreneurs and innovators that have a focus on social impact, launched earlier this year in response to the funding gap that has come about because of the pandemic.

However, to qualify, startups, according to Aptive Capital, must be based in Nigeria, Ghana, Kenya, South Africa, Egypt or Ethiopia. Furthermore, in ascertaining eligibility, startups must equally have a minimum viable product (MVP) or be a revenue-generating startup or business in need of funding.

Tech Trivia:

Apple was originally founded by three partners in 1976: Steve Jobs, Steve Wozniak, and who else?
A. Ronald Wayne
B. Ronald Reagan
C. Tom Eddy
D. Tom Freeman
Answer: See end of post.

3. South Korea’s K-Startup Grand Challenge opens for African Startups

Financed and conducted by the Korean government, the K-Startup Grand Challenge (KSGC) has open its application window to host a startup accelerator programme for African startups. According to feeds from press, the programme’s initiative is to support foreign startups with an ambition to enter the Korean market and further explore the international space.

With supports from the Ministry of SMEs and Startups (MSS) and National IT Industry Promotion Agency (NIPA) in Korea, selected startup teams will benefit by participating in a three-month programme while leveraging networking opportunities and learning from experts on financial support and business development.

4. South Africa’s Sticitt secures $249k funding

Sticitt, a South African cashless payments startup, has raised ZAR4.25 million (US$249,000) in funding. According to press, the fund is expected to cover for operational expenses of Sticitt, towards supporting its current market rollouts.

The 2 year old company was founded by Mitch Dart, Dennis Wevell and Theo Kitshoff, and launched to establish a simplified banking alternative. Industry product analysts have noted that its wallet-based payment platform, Sticitt Pay, provides niche communities with an alternative payment solution to cash, formal banking and card-based payments.

5. Anti-phishing startup Inky lands $20M investment

Inky, an anti-phishing startup, has raised $20 million in its Series B round of funding. Led by Insight Partners, the funding will help the company push for greater enterprise adoption and expand to international markets including Europe, Asia and Latin America.

Inky, according to its milestone calendar, started out a decade ago with a mission to reinvent email with its desktop app, focusing on helping users better organize and filter their inboxes. Reviewers recall that the company pivoted away from its email improvement efforts in 2018 to focus on its cloud-based anti-phishing technology. Not long, it raised $5.6 million in its Series A round.

Tech Trivia Answer: Ronald Wayne

Ronald Wayne joined Steve Jobs and Steve Wozniak to found Apple on April 1, 1976. Wayne met Jobs at Atari and provided administrative oversight during Apple’s first days but sold his shares less than two weeks with the company for $800 plus $1,500 a year later to forfeit any claims (around $9,000 today).
Among other personal reasons, Wayne backed out because he was concerned about the potential for creditors to seize his assets. All three partners assumed equal responsibility for the company’s debt, but Wayne was the only one with much to lose.
Had he kept his 10% stake in Apple, Wayne would reportedly be worth in excess of $60 billion.

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