Africa Roundup: Jumias post-IPO earnings, Gokadas $5.3M raise, Facebooks fake-news purge, Joe Montanas fintech investment

Jumia harboured its first post-IPO earnings call and braved a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value( GMV) — the total amount…

Read More

TikTok parent Bytedance is reportedly working on its own smartphone

It’s been a busy couple of months for Bytedance, one of the world’s most valuable startups and the operator of globally popular video app TikTok. The Beijing-based company has continued to grow its list of apps to include the likes…

Read More

Security lapse exposed a Chinese smart city surveillance system

Smart metropolis are designed to construct life easier for their residents: better transaction handling by clearing streets, uttering sure the public transport is running on time and having cameras saving a watchful eye from above. But what happens when that…

Read More

Lightspeed announces new $560 million fund for China

Global investor Lightspeed is starting 2019 with its largest-ever fund for China, where it has backed a number of brand-new internet challengers. The firm announced the coming week that its fourth China fund has shut with a total fund commitment…

Read More

Chinese Tesla rival Nio trims IPO target: now aims to raise up to $1.5B

The U.S. IPO window may be wide open for Chinese tech firms, but electrical vehicle manufacturer Nio has conservatively trimmed the target for its NYSE listing to $1.5 billion after it exhausted a price range for its shares. The company…

Read More