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LATEST TECH NEWS: Twitter CEO spends 28% wealth on coronavirus. 4 other things and a trivia you need to know today, April 8, 2020

Published

4 years ago

April 8, 2020

Ripples Nigeria

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

1. Twitter CEO Jack Dorsey to spend 28% wealth to help fight coronavirus

Twitter CEO, Jack Dorsey, has announced intent to commit about 28% of his wealth to fight the Coronavirus pandemic. Dorsey made this revelation on Tuesday, April 7, in a tweet where he posted his willingness to spend an estimated $1 billion to help fight the outbreak of COVID-19. According to the CEO, his plan was to move $1 billion of his equity in Square to help fund global pandemic relief through a new LLC called Start Small.

Dorsey tweeted: “I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI.” This is Jack Dorsey venturing into philanthropy like Bill Gates and Jack Ma. With Dorsey showing interest to continue in this light after the end of the pandemic, there is so much to look out for as he supports Universal Basic Income (UBI) alongside girlchild health and education.

2. Nigerian logistics startup Kwik raises undisclosed amount from French Company

Lagos-based logistics startup, Kwik, has reportedly raised an undisclosed amount in funding from French Company, Ubisoft SA, to help expand its operations. According to industry reports, the said fund is part of Kwik’s Series A round which comes on the heels of its earlier raised equity investment of $330,000 in May 2019.

The 2 year old French-founded startup has been building up its assets with relative traction. As a B2B startup operating in Lagos, it is locking into competition with other established logistics firm like the GIG Logistics, Jumia and Konga. With its latest funding, Kwik looks at expanding its frontiers. As the current lockdown has turned more people to use last-mile delivery services, perhaps, its a good attempt for Kwik and competitors to leverage.

Tech Trivia:

Who is a Netizen?

Answer: See end of post.

3. Jack Ma Foundation opens applications for its 2nd edition of Africa Netpreneur Prize

The Jack Ma Foundation has, on Wednesday, April 8, announced the launch of the second edition of the Africa Netpreneur Prize. The prize, which offers selected innovative African tech startups access to a US$1.5 million prize pool, was created by Alibaba founder, Jack Ma, after his first trip to Africa in 2017. According to Jack Ma, the prize was initiated to support the next generation of African entrepreneurs. Currently, the prize is connected to Nigeria as the first edition was won by Nigerian startup, LifeBank, in November 2019.

According to plans, the prize will select 10 finalists to pitch for a share of an overall prize pool of US$1.5 million. It would be recall that last year, the prize was $1 million, making this second edition up by $500, 000. Commenting on this development, Jason Pau, senior advisor for international programmes at the Jack Ma Foundation stated that the foundation is looking to inspire entrepreneurs. “We find ourselves in unprecedented and extraordinary times. Now, more than ever, we need entrepreneurs with courage, initiative, and vision to do what they do best – solve problems for society. With this prize competition, we are looking to inspire and reward African business heroes in all sectors and encourage any aspiring applicants to seize this opportunity to break through barriers and create hope for the future,” he said.

4. Sony unveils new PS’5 console design to break long silence

Makers of PlayStation hardware, Sony, has on Tuesday, April 7, surprised gaming fans as it unveiled design of the new console for the PlayStation 5. Shifting off from its DualShock design, that defined its PS’4, Sony pushed forward a new line tagged DualSense. In a tweet, Sony confirmed this development, going on to publish details on its new product.

Hardware reviewers have said the Sony tweet comes amid a long silence from Sony on the upcoming PlayStation console, which is expected to launch for the holiday 2020 season. The new wireless controller will become Sony’s hot talk from this virtual launch within the industry. There are speculations as to the need and use of the mic built into the new device. Perhaps, Sony CEO Jim Ryan is right: “DualSense marks a radical departure from our previous controller offerings and captures just how strongly we feel about making a generational leap with PS5.”

5. UK fintech Phos raises €1.3M funding led by Bulgarian VC

U.K. fintech that offers a software-only PoS for smartphones, Phos, has raised €1.3 million in funding. The round, according to press, was led by New Vision 3, an early-stage VC based in Bulgaria with participation from a number of unnamed angel investors. Since inception in 2018, Phos has been in the business of designing software so that merchants can accept payments directly on their phones without the need for additional hardware.

Industry reports reveal that the new €1.3M brings the total funds raised by the 2 year old Phos to date to €2.5 million. According to Phos, the team is expected to use it to grow its development team, such that new features could be introduced like ‘PIN on Phone’, a Software Development Kit (SDK), and a new integrated loyalty system. Phos, with this financial support, hence, continue its business, developing software that turns any NFC-equipped Android device into a payments terminal, negating the need for additional hardware and reducing total cost of ownership, in a bid to push its contactless technology across the world.

Tech Trivia Answer: Net Citizen (i.e. a citizen who uses the internet like you.)

The term netizen is a portmanteau of the words Internet and Citizen, as in a “citizen of the net” or “net citizen.” It describes a person actively involved in online communities or the Internet in general. The term was widely adopted in the mid-1990s as a way to describe those who inhabit the new geography of the Internet. Internet pioneer and author Michael F. Hauben is credited with coining and popularizing the term.

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