VC firms led by General Catalyst are investing $110 million in Grammarly Inc. The other investors include Breyer Capital, IVP, SignalFire and Spark Capital. The funding round is one of the largest initial investments for a technology startup in recent time and the first round of funding for Grammarly which was founded in 2009. …
The Minister of Communication, Barr. Adebayo Shittu, on Tuesday, April 25, 2017 signed a Memorandum of Understanding (MoU) with the Alliance for Affordable Internet (A4AI) to ensure affordable internet access in Nigeria. The MoU is for a duration of 3 years. The MoU was signed during the A4AI Nigerian coalition meeting in Lagos. At the meeting,…
Nigeria’s eCommerce company Yudala has completed the acquisition of Yes Mobile, a cosmopolitan high-value retail outfit with a multiplicity of stores in Lagos, for an undisclosed purchase price. According to Gideon Ayogu, Head of Media Relations at Yudala, he stated that “with this takeover, Nigerians now have additional ease and convenience of shopping a variety…
The Minister of Communication, Barr. Adebayo Shittu, on Tuesday, April 25, 2017 signed a Memorandum of Understanding (MoU) with the Alliance for Affordable Internet (A4AI) to ensure affordable internet access in Nigeria. The MoU is for a duration of 3 years. The MoU was signed during the A4AI Nigerian coalition meeting in Lagos. At the meeting,…
Google’s YouTube has launched a Web-TV service. YouTube TV provides tv service at the cost of $35 per month. It has a free one month trial period, at the expiration of which the monthly subscription fee becomes payable. At the moment, 39 channels can be streamed on YouTube TV including; MSNBC, NBC, ESPN U, CBS, Fox, CNBC,…
AOL and Yahoo will merge to form a new entity called Oath. AOL CEO Tim Armstrong made the name of the new entity via his twitter account. Verizon announced the acquisition of Yahoo for $4.48 billion in February 2017 after the purchase price was revised down by $350 million. The revised purchase price followed the disclosure of the…
A new tool has been developed for use on Facebook, Messenger and Instagram to combat “revenge porn”. Mark Zuckerberg during the announcement stated that “revenge porn” is wrong and hurtful. He said the new tool will help to prevent “revenge porn” from being shared on Facebook, Messenger and Instagram. He further stated that “Revenge porn is…
Lidya, a Nigerian FinTech startup has successfully raised the sum of $1.25 million dollars in seed funding. Accion Venture Lab led the funding round while Newid Capital and several angel investors also participated. According to the press release, Lidya currently operates in Nigeria where 20,000 businesses have registered for the service. Lidya’s new round of funding will enable the company to…
Startup Genome in its 2017 Global Startup Ecosystem Report (the “Report”) stated that the Lagos startup ecosystem is valued at US$2 billion ahead of Johannesburg and Capetown’s startup ecosystem valued at US$1.36 billion and US$172 million respectively. The report thus means that Lagos has the most valuable startup ecosystem in Africa. The Report as it relates to Lagos has…
The 2017 edition of the Cashless Card Expo 2017 will hold from June 13 to 15, 2017 at the Eko Hotel and Suites, Lagos . The theme of this year’s edition is “Millennials in the Marketplace: Lifestyles riding on Disruptive Payment ”.
Akin Tech Lawyer 