Twitter reduces Twitter Blue waiting time. 2 other stories and a trivia

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

1. Twitter reduces Twitter Blue waiting time

Elon Musk’s micro-blogging site, Twitter, has announced a new 30 day waiting time for accounts to buy Twitter Blue.

Twitter Blue made the announcement on its page as seen by Ripples Nigeria on Friday.

The company initially announced that newly created accounts would wait for 90 days before they could subscribe to Twitter Blue.

While noting that the team has reviewed the waiting period to 30 days, the notice noted that changes on the waiting period is subjected to the company’s discretion.

“Newly created Twitter accounts will not be able to subscribe to Twitter Blue for 30 days. We may also impose waiting periods for new accounts in the future at our discretion, and without notice,” the Twitter Blue page reads.

Tech Trivia: What is the purpose of edge caching?
A. It translates website data for users in different countries.
B. It creates incremental backups of website data.
C. It compresses website data before it is delivered to the end user.
D. It delivers website content to users from a server close to their location.
Answer: see end of post

2. Accenture to cut 19,000 jobs from global workforce

Professional services giant, Accenture, has announced plans to cut 19,000 jobs or 2.5% of its global workforce.

Read also:Nigeria launches $618M subvention to fund startups. 2 other stories and a trivia

The company disclosed this in its SEC filing seen by Ripples Nigeria on Friday.

According to the filing, Accenture’s sales increased 5% to $15.8 billion while the company returned $1.8 billion in cash to shareholders in the second quarter.

The Irish-American professional services firm announced that it would spend $300 million to consolidate its office space and $1.2 billion on severance to reduce its personnel by 2.5% over the following 18 months.

“Our strong financial results this quarter again demonstrate that our ability to bring together industry, functional, and technology expertise as well as managed services continues to differentiate us with our clients,” explained Julie Sweet, CEO of Accenture.

“We are also taking steps to lower our costs in fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead,” Sweet added.

Ripples Nigeria gathered that more than half of the axed roles would be among back-office staff.

3. VKAV raises $43 million from pan-African venture fund

Verod-Kepple Africa Ventures (VKAV) has received $43 million, as part of its ongoing fundraising for its pan-African venture fund.

VKAV Partner Ory Okolloh confirmed the funding in a statement on Friday.

VKAV, a joint venture between Kepple Africa Ventures and Verod Capital Management Limited (Verod Capital), was established in 2022.

Focusing on African emerging growth stage companies is the Pan-African Venture Capital Fund.

“We are incredibly grateful for the confidence that our world-class set of investors have in our team and differentiated value creation strategy. We look forward to deepening the successful long-term partnership we have with them,” said Okolloh.

Ripples Nigeria gathered that some of the current investments include Moove Africa, NowPay, Koko Networks, and many others Ceviant.

Trivia Answer: It delivers website content to users from a server close to their location

Edge caching is a mechanism content delivery networks (CDNs) use to cache Internet content in different locations around the world

By Kayode Hamsat

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