Twitch reduces work force to stabilise operations. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Twitch to launch job cut to stabilise operations

Twitch, the livestreaming platform under Amazon’s ownership, is preparing to reduce its workforce by 35%, and will affect approximately 500 employees.

This development compounds challenges for the company, which underwent significant job cuts last year amid changes in leadership, escalating operational expenses, and community dissatisfaction.

Following the transition of Twitch co-founder Emmett Shear to its current CEO, Dan Clancy, the company previously laid off 400 employees.

Last year, Amazon also eliminated 180 positions, closing its Crown channel and dismantling the Twitch Game Growth group, intended to support gaming creators in marketing.

In a recent announcement, Twitch disclosed its decision to cease operations in South Korea, citing “prohibitively expensive” network fees.

Dan Clancy acknowledged the company’s substantial losses in Korea, expressing uncertainty about a sustainable future.

Despite a surge in user engagement during pandemic lockdowns, Twitch continues to grapple with financial viability.

Trivia: What is a small, self-contained block of integrated circuits called?

A. Minichip
B. Chiplet
C. Unichip
D. Chippino
Find answer below

2. Digital Africa expands investment portfolio

Digital Africa has revealed its strategic investment in four cutting-edge African startups including Valorigo, MONSAPO, REasy, and Kwely Inc.

The move according to analysts signifies a noteworthy advancement for the Fuzé initiative.

Valorigo, on of the new portfolios, is an online marketplace rooted in the Democratic Republic of Congo, empowering consumers with a user-friendly tool for comparing and accessing healthcare products.

Ripples Nigeria gathered that Digital Africa’s investment mechanism, Fuzé, has played a crucial role in revolutionizing funding accessibility for startups in Francophone Africa.

With bolstered support from Proparco, this collaboration seeks to cultivate opportunities, facilitate funding avenues, and enhance visibility for startups crafting technological solutions aligned with Africa’s economic landscape.

3. UAE’s Cargoz closes seed funding for Saudi expansion

A UAE-based logistics solutions provider, Cargoz, has closed an undisclosed Seed funding in a round led by Nama Ventures, accompanied by participation from RAZ Holding, Innovest Properties, and various regional family offices and angel investors.

Established in 2022 by Premlal Pullisserry and Lijo Antony, Cargoz claims to facilitate connections between SMEs seeking warehousing solutions and companies with surplus capacity.

The newly acquired funding positions Cargoz to launch operations in Saudi Arabia during the first quarter of 2024.

Reflecting on the company’s journey, Premlal, co-founder and CEO, acknowledges the underestimated challenges in obtaining on-demand storage for SMEs.

He emphasizes Cargoz’s commitment to addressing this long-standing issue, with upcoming software releases aimed at providing an optimal storage experience for SMEs in both the UAE and soon in Riyadh.

Trivia Answer: Chiplet

A chiplet is a small, self-contained block of integrated circuits that performs a specific function. Chip designers combine multiple chiplets with different uses into a single chip package.

This type of chip package is similar to a System-on-a-Chip (SoC) processor, which combines several distinct components into a single chip. However, an SoC is manufactured as one piece, while chiplets are manufactured separately and combined later.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now