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LATEST TECH NEWS: Uber offers $6bn to takeover rival Grubhub. 4 other things and a trivia you need to know today, May 14, 2020

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4 years ago

May 14, 2020

Ripples Nigeria

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

1. Uber offers $6bn to takeover rival Grubhub

Car hailing giant, Uber, has reportedly made advances to Grubhub with a takeover offer to create the largest food-delivery app in the U.S. Emerging reports from the U.S. revealed that both companies are in talks on the $6bn deal and likely to reach an agreement by the end of the month.

Analysts noted that should the acquisition move pull through, this will remain one of the major business landmarks to remember the coronavirus pandemic for. Media sources following the deal hinted that Uber offered $6 billion worth of stock in its takeover bid. However, Grubhub shares, which reportedly rose sharply on the reports of a tie-up earlier this week, slipped 3.7 percent on Wednesday.

2. America places ban on Huawei until next May

President of the United States of America, Donald Trump, on Wednesday, announced the extension of the existing ban on U.S. companies using telecommunications equipment made by firms that pose a national security risk — including Chinese manufacturer Huawei.

Industry reviews have speculated that the U.S. government’s decision is largely aimed at Huawei, though ZTE, another Chinese phone hardware manufacturer, is included in the ban. Recall that the ban order originated in 2019, at the height of the U.S.-China trade war, and called the International Economic Powers Act, it gave the president the right to regulate commerce during a national emergency that threatened the U.S.

Tech Trivia:

Before becoming Google’s smartphone OS, Android was being developed for what kind of device?

A. Games
B. Cameras
C. Cars
D. Television

Answer: See end of post.

3. Facebook flags 50 million misleading coronavirus posts

Facebook has reported that more than 50 million pieces of content were given warning labels on its social networking site for being misleading in relation to coronavirus. According to its recently published Community Standards Enforcement Report, Facebook said that since 1 March, it has removed more than 2.5 million pieces of content linked to sale of medical items such as masks and Covid-19 test kits.

In ensuring that its community remains safe, its Covid-19 Information Centre, which shows health and virus information from official sources, had now directed more than two billion people to resources from health authorities. However, when the Covid-19 crisis emerged, Facebook adopted technology and tools to find and remove content that violated its community policies.

4. Novastar Ventures raises $108M to become $200M African VC

Lagos and Nairobi based VC, Novastar Ventures, has raised $108M, a development that will give African startups the opportunity to tap another $100 million from a VC to expand business. According to press statements from the VC, this new raiser will kickstart its new commitment to launch its Africa Fund II, which brings Novastar’s total capital to $200 million.

On investment, the VC had earlier noted that it intended to make 12 to 14 investments across the continent. Novastar Ventures, in its first round made 15 investments including companies such as Uganda and Kenya focused energy startup SolarNow and agtech venture M-Farm.

Before closing its Africa Fund II, Novastar Ventures had already made several investments in West Africa, including leading a round in Nigerian on demand motorcycle transit startup Max.ng and backing Ghanaian health company, MPharma. Novastar opened an office Lagos in 2019. Co-founder Steve Beck, however, hinted that Novastar will target startups with a focus on mission than industry silos, addressing the biggest problems in the largest markets.

5. South Africa’s AgVentures raises $5.3M from agrifood business

South Africa’s agrifood tech investment company AgVentures has reportedly raised an anchor commitment of R100-million (~$5.3M) from Acorn Agri & Food, a leading agrifood business in South Africa. According to AgVentures, while disclosing the development, the new capital will help the investment company to pursue its vision of unleashing Africa’s agrifood potentials.

Against this backdrop, the Acorn Agri & Food company is thrusting into this opportunity by investing in, and nurturing innovative and disruptive technologies with the potential to transform the African agrifood sector. The 2 year old AgVentures (as founded by Gerhard Visagie and Michael Prinsloo, will use the funds to expand its portfolio as it invests in early stage agrifood technologies in South Africa, Israel and Kenya and assists in the roll-out of these transformative technologies across Africa.

Tech Trivia Answer: Camera

According to Android Inc. founder Andy Rubin, the software that became the company’s Android smartphone OS was originally designed to be used in “smart cameras” but was later repurposed for handsets after it was realized that the market for digital cameras was waning. His original pitch to investors in April 2004 showed a camera that would connect to a home computer (wired or wireless) that would then connect to an Android datacenter.

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