MAX.ng raises $7M round backed by Yamaha and pilots EVs in Nigeria
- Nigerian motorcycle transit startup MAX.ng has raised a $7 million funding round led by Novastar Ventures, with participation of Japanese manufacturer Yamaha.
- Motorcycle transit ventures are vying to digitize a share of Africa’s boda boda and okada markets (the name for motorcycle taxis in East and West Africa)—representing a collective revenue pool of $4 billion (now) that’s expected to double by 2021, per a TechSci study.
- Uber began offering a two-wheel transit option in East Africa in 2018, around the same time Bolt (previously Taxify) started motorcycle taxi service in Kenya.
- Uganda-based motorcycle ride-hail company SafeBoda expanded into Kenya in 2018 and recently raised a Series B round, co-led by the venture arms of Germany’s Allianz and Indonesia’s Go-Jek. On the question of how MAX (a 2018 TechCrunch Startup Battlefield Africa participant) will compete in a market with more players, co-founder Chinedu Azodoh named diversification and satisfying drivers.
Facebook Libra’s Stark Reminder: Mass Regulation Before Mass Bitcoin Adoption
- By CCN Markets: As expected, the US government has an interest in Facebook’s Libra project.
- Pointing out that Libra is not like Bitcoin is not a useful comparison.
- Due to several turns of events, the best place for Bitcoin is liquidity underpinning the broader crypto market, at this point.
- Entering crypto in quite the way they have, they’re bringing perhaps undue attention on the space, which has recently been subject to new calls for banning.
- All things being equal, this is the expected side effect of mainstream corporations splashing around in the crypto space.
- Now the same weight can be applied to crypto subjects, such as the Token Taxonomy Act. Facebook is creating jobs in the blockchain industry with Libra, and reportedly being very aggressive about trying to get the best it can.
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THE US TELEHEALTH MARKET: The market, drivers, threats, and opportunities for incumbents and newcomers
- Telehealth — the use of mobile technology to deliver health-related services, such as remote doctor consultations and patient monitoring — is enabling healthcare providers and payers to address the US healthcare industry's growing list of problems.
- The proliferation and rapid advancement of mobile technology are spurring telehealth adoption, and many believe that 2018 could be the tipping point for the telehealth market.
- In The US Telehealth Market, Business Insider Intelligence defines the opaque US telehealth market, forecasts the market growth potential and value, outlines the key drivers behind usage and adoption, and evaluates the opportunity telehealth solutions will afford all stakeholders.
- We also identify key barriers to continued telehealth adoption, and discuss how providers, payers, and telehealth companies are working to overcome these hurdles.
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Here's What to Expect When Slack Shares Start Trading Thursday
- It may be psychologically pleasing to see shares of a company rise during its first day of trading following an initial public offering.
- But in the case of a direct listing, investors might see the stock hit its high at the start of the day before sliding back down, said Joe Mecane, head of execution services at Citadel Securities during Fortune’s Brainstorm Finance conference in Montauk, N.Y. That’s exactly what may happen with workplace messaging application Slack, which is set to start trading as a direct listing on the New York Stock Exchange as “WORK” Thursday, with a price of around $26 a share.
- Slack’s listing comes at a time when investors are wary of the ongoing China-U.S. trade war, a backdrop that certainly didn’t help Uber on its dismal first day on the market.
Bond King Says Trump Might Drop Out of 2020 Election if Economy Falters
- By CCN Markets: Even though Donald Trump kicked off his 2020 presidential campaign last night in Florida in front of a crowd of roughly 20,000, Wall Street isn’t entirely convinced that he’s committed.
- President Trump, meanwhile, has warned that if he’s not the winner in 2020, the stock market will crash.
- Gundlach has another prediction, and that is if the economy doesn’t melt, there will be four more years of President Trump.
- Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN Markets.
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Bone music: the Soviet bootleg records pressed on x-rays (2015)
- In a era of unprecedented ubiquity for recorded music, it’s almost impossible to imagine that people could go to such lengths to hear a song.
- Even in this country, the small ads of music papers in the 1960s were frequently littered with desperate pleas from people who had heard a song once, sometimes years previously, and were haunted by the memory.
- “I’ll pay anything for the Hippies’ Memory Lane on Cameo Parkway,” reads one such classified, from a 1967 issue of Record Mirror, “I’ll even send a tape to someone to tape it for me.” As recently as the early 1980s in this country, we had Dial-A-Disc, a British Telecom service that people would phone in to hear a chart hit being played on the other end of the line.
What HPE’s Acquisition of Cray Means for the Supercomputer Industry
- HPE’s planned purchase of Cray for $1.3 billion, announced on May 17, is a good, strategic move because it gives the company access to Cray’s innovative, high-end high performance computing technology and expands its access to customers in government and meteorological organizations, as well as the academic, manufacturing, and oil and gas markets, Gartner analyst Chirag Dekate told Data Center Knowledge.
- The company was also trying to make further inroads into the enterprise market, and HPE has experience and enterprise customers at a time when many businesses are recognizing the need to invest in HPC for AI, data analytics, and other business operations, such as marketing and ERP.
- IDC Research Director Peter Rutten told Data Center Knowledge that the acquisition is a positive move for HPE, whose customers will benefit because the HPC market (which IDC calls Massively Parallel Computing) is poised to take off, particularly as enterprises increasingly adopt HPC.
This is how insurance is changing for gig workers and freelancers
- The gig economy is becoming a core element of the labor market, pushed to the fore by platforms like Uber and Airbnb.
- Gig economy workers are freelancers, such as journalists who don't work for one publication directly, freelance developers, drivers on platforms like Uber and Grab, and consumers who rent out their apartments via Airbnb or other home-sharing sites.
- A number of insurtech startups — including UK-based Dinghy, which focuses on liability insurance, and US-based Slice, which provides on-demand insurance for a range of areas — have moved to capitalize on this new segment of the labor market.
- While every consumer needs health insurance, there are already a number of insurtechs and incumbent insurers that offer policies for individuals.
- The companies mentioned in this report include: Airbnb, Deliveroo, Dinghy, Grab, Progressive, Slice, Uber, Urban Jungle, and Zego.
Slack sets reference point for its unusual direct listing at $26 per share
- The New York Stock Exchange has set a reference price of $26 per share for Slack, as the company prepares to start trading publicly in a direct listing expected tomorrow.
- Since it's going public through a direct listing, the reference price is not an official price for the shares.
- In a traditional IPO, the company's underwriters sell the public offering to investors at a set price.
- In this case, the reference price will be used by the designated market marker, Citadel, to decide when the timing is right to start trading shares.
- Slack and its team referenced internal data gathered from secondary markets to get an idea of an appropriate valuation, according to one person familiar with the conversations.
- The volume weighted price was $26.82, the company siad in a filing, though the high and low ranges between trades was broad, the person said.
Dating apps like Tinder, Match, and Bumble are still growing, but analysts predict that growth will 'slow significantly' in 2019
- Although more than 25 million people are expected to regularly turn to dating apps this year, analysts are predicting a slow-down in growth for many popular dating apps.
- In a new forecast on app usage, research analytics firm eMarketer predicts that user growth for dating apps like Tinder, Hinge, Match, and OKCupid, will "slow significantly" in the US in 2019.
- Dating apps are anticipated to see their collective user base grow by 5.3% this year, compared with a 6.5% increase in 2018.
- While an estimated 23.8 million adults used dating apps in 2018, the monthly user base is expected to reach 25.1 million in the US this year.
- Analysts attributes the slow in growth to a lower number of new users entering the dating app market.
- Looking forward, eMarketer predicts dating app user growth in the US to slow to a 2.3% increase by 2022, barely topping 28 million.