LATEST TECH NEWS: Twitter emerges as new bidder for TikTok. 4 other things and a trivia you need to know today, August 10, 2020
These 5 latest stories from the tech space will keep you updated with trends today.
1. Twitter emerges as new bidder for TikTok
Microblogging site Twitter has joined Microsoft in the race to acquire the Chinese short video app, TikTok. According to media reports, Twitter is in talks with the TikTok board on a potential merger that may see the U.S. arm of TikTok taken over by the Jack Dorsey company. Recall that Ripples Nigeria earlier reported on president Donald Trump’s pressure, pushing for the sale of the business or potentially facing legal ban in the U.S.
Although, analysts have speculated that Trump had taken such seemingly harsh decision to clip the wings of the Chinese business, especially as it allegedly poses security threats on America. A common sentiment shared by analysts is that Trump, with his ban or sell position, is threatening to cause a major loss for TikTok should its board decides to quit the U.S., where it has already amassed over 100 million users. Meanwhile, industry leaders have noted that Microsoft remained the front-runner for TikTok’s business in the US, Australia, Canada and New Zealand, and that a potential tie-up with Twitter would just be for TikTok’s North American business.
2. Toshiba signs out of the laptop business
Japanese multinational conglomerate Toshiba has officially announced it quitting of the laptop business. Seemingly prepared ahead of the move, Toshiba had, two years ago, sold the majority of its stake to Sharp, a development that saw Sharp renaming the division as Dynabook. A press release containing the deal revealed that the stake transferred to Sharp was 19.9% of Toshiba’s outstanding shares. It read: “Toshiba Corporation hereby announces that it has transferred the 19.9% of the outstanding shares in Dynabook Inc. that it held to Sharp Corporation.”
Toshiba, while commenting on the deal, clarified that as a result of this transfer, Dynabook became a wholly-owned subsidiary of Sharp. While the move, to investment analysts, would not only seem shocking, it also signifies an end to the company’s 35-year venture in the laptop business. Digging into the company’s log book, it is observed that the company witnessed its business peak in the 1990s and early 2000s. Going by records, Toshiba reached its peak in 2011 when it sold 17.7 million PCs. Since 2011, however, its laptop business has continued to decline.
Identify the company in which its founder did not attend Harvard University
A. Bill Gates of Microsoft
B. Mark Zuckerberg of Facebook
C. Peter Thiel of PayPal
D. Will Ahmed of WHOOP
Answer: See end of post.
3. Egyptian fintech startup ElGameya raises pre-seed investment
P2P savings tool in Egypt, ElGameya, has raised a six-figure US dollar investment. The pre-seed angel syndication is expected, according to the startup, to support its growth plans. ElGameya, which is a mobile application, facilitates the management and collection of the ROSCA cycle, otherwise referred to as money circles. Reveiwers, familiar with its product, noted that users can either use it as a platform to digitise their private money circles, or get matched to users with similar saving and lending capabilities in a public circle.
On its unique feature, ElGameya’s app also has a built-in marketplace enabling users to access exclusive discounted products as a cash-out option. Industry insights revealed that the startup is a graduate of AUC Venture Lab’s Fintech Accelerator. And that the new raiser was led by AUC Angels, MENA’s first university-based angel network. In addition, ElGameya last year equally closed a small amount of funding after taking part in the Startupbootcamp-Pride FinTech Cairo accelerator programme.
READ ALSO: LATEST TECH NEWS: Facebook boss concerned over possible TikTok ban. 4 other things and a trivia you need to know today, August 7, 2020
4. Huawei to stop producing Kirin chipsets in 3rd quarter
As the pressure of the U.S. on Chinese company grows, another Chinese multinational technology company Huawei is set to stop making its flagship Kirin chipsets by the end of the 3rd quarter, 2020. According to Richard Yu, CEO of Huawei’s Consumer Business Unit , the U.S. pressure on Huawei’s suppliers has made it impossible for the company’s HiSilicon chip division to keep making the chipset, a key components for mobile phones. The CEO disclosed this while speaking at the launch of the company’s new Mate 40 handset.
Analysts have noted that the U.S.-China relation is at its worst in decades as it seemed Washington is pressing governments around to world to squeeze Huawei out, arguing it would hand over data to the Chinese government for spying. Although, Huawei has denied this allegation of spying for China. Meanwhile, the United States is also seeking the extradition from Canada of Huawei’s chief financial officer, Meng Wanzhou, on charges of bank fraud. HiSilicon produces a wide range of chips, including its line of Kirin processors, which power only Huawei smartphones and are the only Chinese processors that can rival those from Qualcomm in quality.
5. South Africa to opt for digital census
Although, launching as trial, Statistics South Africa is set to conduct its first digital census. According to media sources, trial will run from 10 August to 6 September 2020 in selected areas. Experts, in South Africa, have noted that the trial will serve as a test online and telephonic data collection to prepare for remote data collection in next year’s census. Statisticians have lauded the initiative, describing the Census 2021 drive as the first population count to introduce digital census-taking through the use of online and telephonic data collection.
Speaking on the initiative, the organising board stated that the development will allow respondents to complete the census questionnaire on their own. Adding that the telephonic data collection makes provision for respondents to participate in the census with the assistance of a Stats SA call centre agent. It is expected that, through the initiative, technology will minimise the challenge of reaching hard-to-access communities, thus allowing more people to participate in the census. However, concerns have also been raised by analysts on irregularities in data should a significant population of those who are not internet included be cut out.
Tech Trivia Answer: Peter Thiel
Thiel was born in Frankfurt. He moved with his family to the United States as an infant. He spent a portion of his upbringing in Southern Africa before the family settled in California in 1977.
Unlike other listed founders who attended Harvard University in Boston, Thiel studied philosophy at Stanford University, graduating with a B.A. in 1989. He co-founded PayPal in 1999, serving as chief executive officer until its sale to eBay in 2002 for $1.5 billion.
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