Jiji raises $21M for its Africa online classifieds business

Jiji raises $21M for its Africa online classifieds business

Pan-African digital classifieds company Jiji has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital. The Nigeria based venture, co-founded by Ukrainian entrepreneur Vladimir Mnogoletniy, has an East to West presence that includes Ghana, Uganda, Tanzania, and Kenya. Buyers and sellers in those Read more…

No Libra style digital currencies without rules, say EU finance ministers

No Libra style digital currencies without rules, say EU finance ministers

European Union finance ministers have agreed a defacto ban on the launch in the region of so-called global ‘stablecoins’ such as Facebook’s planned Libra digital currency until the bloc has a common approach to regulation that can mitigate the risks posed by the technology. In a joint statement the European Read more…

Vinted, the second-hand clothes marketplace, raises $141M at a $1B+ valuation

Vinted, the second-hand clothes marketplace, raises $141M at a $1B+ valuation

The market for second-hand clothes — the “circular economy” as it’s sometimes called — has been on the rise in the last several years, fuelled by economic crunches, a desire to make more responsible and less wasteful fashion choices, and a wave of digital platforms that are bringing the selling Read more…

Kenyan telco Safaricom’s Alpha incubator faces uncertain future

Kenyan telco Safaricom’s Alpha incubator faces uncertain future

Safaricom’s Nairobi based Alpha innovation incubator may have an uncertain future, according to sources. With two high-level departures, and the passing of Safaricom’s CEO Bob Collymore, there are questions on how or if Alpha will continue to operate. The space was established in 2017 to spur new product development for Read more…

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Why each Libra member’s mutiny hurts Facebook

There’s a strategic cost to the defection of Visa, Stripe, eBay, and more from the Facebook-led cryptocurrency Libra Association. They’re not just names dropping off a list. Each potentially made Libra more useful, ubiquitous, or reputable. Now they could become obstacles to the token’s launch or growth. Fearing regulators’ inquiries Read more…

Is Knotel poised to turn WeWork from a Unicorn into an Icarus?

Is Knotel poised to turn WeWork from a Unicorn into an Icarus?

The day of reckoning for the ‘flexible office space as a startup’ is coming, and it’s coming up fast. WeWork’s IPO filing has fired the starting gun on the race to become the game-changer both in the future of property and real estate but also the future of how we Read more…

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Facebook still full of groups trading fake reviews, says consumer group

Facebook has failed to clean up the brisk trade in fake product reviews taking place on its platform, an investigation by the consumer association Which? has found. In June both Facebook and eBay were warned by the UK’s Competition and Markets Authority (CMA) they needed to do more to tackle Read more…

EBay picks 5.5% stake in India’s Paytm Mall

EBay picks 5.5% stake in India’s Paytm Mall

EBay said today it is buying a 5.5% stake in e-commerce marketplace Paytm Mall as the global firm makes another push to gain footprint in India’s fast-growing e-commerce market. The two firms did not disclose financial terms of the deal, but a source familiar with the matter told TechCrunch that Read more…