Latest Tech

LATEST TECH NEWS: Uber to acquire Postmates for $2.7bn. 4 other things and a trivia you need to know today, July 6, 2020

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

1. Uber to acquire Postmates for $2.7 billion

Uber has confirmed that it is acquiring the on-demand delivery company Postmates. According to Uber, the acquisition will see the company spending a sum of $2.65 billion investment to fulfil the obligation of the investment. While Uber is excited, the investment will help its company leverage on the new network to improve delivery in its existing ventures.

Following the completion of the acquisition, Uber stated that the consumer-facing Postmates app will be maintained as a standalone entity, though merchants and customers will benefit from a combined delivery network. While a number of commentators have expresssed fear on the success of the new deal, leading investors and industry analysts have noted that Uber has adequate expertise and resource personnel to help it pull through successfully. They recalled that the new deal wasn’t Uber’s biggest, and that if it could successfully sail through the $3.1 billion acquisition of Middle Eastern ride-hail rival Careem recently, it would replicate the story with Postmates.

2. HotelOnline acquires Kenyan leisure marketplace Cloud9xp

In a share swap deal, Kenyan leisure marketplace Cloud9xp has been acquired by HotelOnline. According to the deal’s book, the new acquisition will see the startup essentially becoming the B2C channel of the Africa-focused hotel-booking platform. Since launch in 2013, Cloud9 is an online retailer of experiences and merchandise, selling a range of outdoor activities and branded apparel.

However, the startup has been busy in the interim, raising funding, taking part in the Google Launchpad Africa accelerator, pitching at DEMO Africa in Morocco, and launching mobile apps. On the flip, HotelOnline was founded in 2014, operating as a leading e-commerce and digital marketing platform for hotels that has helped more than 1,500 hotels across 18 markets in Africa and the Middle East increase their revenues.

Tech Trivia:

Who is the richest tech genius?

A. Mark Zuckerberg
B. Jeff Bezos
C. Bill Gates
D. Michael Dell

Answer: See end of post.

3. Fintech firm ProfitShare Partners secures R100-million to grow SMEs

The Fintech SME capital provider, ProfitShare Partners, has announced securing a whopping R100-million from the South Africa SME Fund. ProfitShare, while making the announcement, noted that the funding will facilitate its partnership with small and medium businesses in a bid to help accelerate growth for SMEs. According to reviews, ProfitShare Partners provides disruptive alternative funding to SME’s which have a contract with a reputable company or government department.

Read also: LATEST TECH NEWS: Africa-focused VC launches non-profit empowerment for youth. 4 other things and a trivia you need to know today, July 3, 2020

Hence, this funding is expected to allow SMEs to deliver successfully on their orders and contracts which in turn allows them to access a bigger pool of business resulting in exponential growth. Over the years, ProfitShare Partners has assisted more than a hundred SMEs since conception, providing them with the tools to grow their turnover tenfold in less than two years. Speaking on the development, industry analysts have noted that the R100 million funding was invested in the company in recognition of the ProfitShare Partners business model and its positive impact on SME growth in South Africa.

4. Samsung set to unveil Galaxy Note 20 in August

As the second quarter of 2020 progresses, Samsung has proposed launching the highly anticipated Samsung Galaxy Note 20 in early August. Despite the disruption influenced by the pandemic, the tech giant is demonstrating a sense of strength and resistance to remain on track. While the event is expected to be staged virtually, similar to how Apple staged this year’s Worldwide Developers Conference, Samsung looks at getting back to business in the chase after revenue after a down trend in the phone market worldwide.

However, reviewers are asking questions about the new product as little is known about it features and functionalities. While many are interested in the price, a good number of reviewers are predicting its user experience, size and general outlook. Samsung existing users have displayed mixed feelings ranging from confident to nervousness. Some have stated that the launch is characterised by rush from the company, and have warned against such ventures. According to them, the reputation of the mobile phone manufacturer is at stake should the launch turns negative.

5. Facebook looks to invest in education in India

The Mark Zuckerberg company Facebook has reportedly identified a new area of opportunity to further spread its tentacles in the world’s second largest internet market. On Sunday, July 5, the social media company announced its partnership with the Central Board of Secondary Education, a government body that oversees education in private and public schools in India, to launch a certified curriculum on digital safety and online well-being, and augmented reality for students and educators in the country.

According to Facebook, this partnership will see it prepare secondary school students for current and emerging jobs, and help them develop skills to safely browse the internet, make “well informed choices,” and think about their mental health. In pulling this through, Facebook added that it will provide these training in various phases. Going by the memo, in the first phase, more than 10,000 teachers will be trained; in the second, they will coach 30,000 students. The three-week training on AR will cover fundamentals of the nascent technology, and ways to make use of Facebook’s Spark AR Studio to create augmented reality experiences.

Tech Trivia Answer: Jeff Bezos ($113 billion)

In 1994, Jeff Bezos launched Inc. (AMZN) after leaving a well-paying job at a Wall Street hedge fund. By starting Amazon as a simple online bookseller, Bezos was hoping to cash in on the rapid growth of Internet businesses in the 90s. Yet, through the years, both he and Amazon have proved to be transformative. Today, he leads the pack with the Microsoft genius Bill Gates ($98 billion) coming next.

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