American Stripe buys Nigerian Paystack for $200mln+ – Ecofin Agency: Economic information from Africa

American Stripe buys Nigerian Paystack for $ 200mln+  Ecofin Agency: Economic information from Africa
“nigeria startups when:7d” – Google News

Commercial Dryers Market Comprehensive Study by Key Players – Whirlpool, American Dryer, AB Electrolux – PRnews Leader

Commercial Dryers Market Comprehensive Study by Key Players – Whirlpool, American Dryer, AB Electrolux  PRnews Leader
“nigeria startups when:7d” – Google News

American Justice Department to file landmark antitrust case against Google on Tuesday – ETTelecom.com

American Justice Department to file landmark antitrust case against Google on Tuesday  ETTelecom.com
“nigeria startups when:7d” – Google News

West African Internet Start-up Report: Analysis of Funding Over the Past Decade – ResearchAndMarkets.com – Odessa American

West African Internet Start-up Report: Analysis of Funding Over the Past Decade – ResearchAndMarkets.com  Odessa American
“nigeria startups when:7d” – Google News

West African Internet Start-up Report: Analysis of Funding Over the Past Decade – ResearchAndMarkets.com – Odessa American

West African Internet Start-up Report: Analysis of Funding Over the Past Decade – ResearchAndMarkets.com  Odessa American
“nigeria startups when:7d” – Google News

American Stripe offers $ 200 million to acquire Nigerian startup Paystack – AlKhaleej Today

American Stripe offers $ 200 million to acquire Nigerian startup Paystack  AlKhaleej Today
“nigeria startups when:7d” – Google News

Trump’s latest immigration restrictions are bad news for American workers

I’m an immigrant, and since arriving from India two decades ago I’ve earned a Ph.D., launched two companies, created almost 100 jobs, sold a business to Google and generated a 10x-plus return for my investors.

I’m grateful to have had the chance to live the American dream, becoming a proud American citizen and creating prosperity for others along the way. But here’s the rub: I’m exactly the kind of person that President Trump’s added immigration restrictions that require U.S. companies to offer jobs to U.S. citizens first and narrowing the list of qualifications to make one eligible for the H-1B visa, is designed to keep out of the country.

In tightening the qualifications for H-1B admittances, along with the L visas used by multinationals and the J visas used by some students, the Trump administration is closing the door to economic growth. Study after study shows that the H-1B skilled-worker program creates jobs and drives up earnings for American college grads. In fact, economists say that if we increased H-1B admittances, instead of suspending them, we’d create 1.3 million new jobs and boost GDP by $ 158 billion by 2045.

Barring people like me will create short-term chaos for tech companies already struggling to hire the people they need. That will slow growth, stifle innovation and reduce job creation. But the lasting impact could be even worse. By making America less welcoming, President Trump’s order will take a toll on American businesses’ ability to attract and retain the world’s brightest young people.

Consider my story. I came to the United States after earning a degree in electrical engineering from the Indian Institute of Technology (IIT), a technical university known as the MIT of India. The year I entered, several hundred thousand people applied for just 10,000 spots, making IIT significantly more selective than the real MIT. Four years later, I graduated and, along with many of the other top performers in my cohort, decided to continue my studies in America.

Back then, it was simply a given that bright young Indians would travel to America to continue their education and seek their fortune. Many of us saw the United States as the pinnacle of technological innovation, and also as a true meritocracy — somewhere that gave immigrants a fair shake, rewarded hard work and let talented young people build a future for themselves.

I was accepted by 10 different colleges, and chose to do a Ph.D. at the University of Illinois because of its top-ranked computer science program. As a grad student, I developed new ways of keeping computer chips from overheating that are now used in server farms all over the world. Later, I put in a stint at McKinsey before launching my own tech startup, an app-testing platform called Appurify, which Google bought and integrated into their Cloud offerings.

I spent a couple of years at Google, but missed building things from scratch, so in 2016 I launched atSpoke, an AI-powered ticketing platform that streamlines IT and HR support. We’ve raised $ 28 million, hired 60 employees and helped companies including Cloudera, DraftKings and Mapbox create more efficient workplaces and manage the transition to remote working.

Stories like mine aren’t unusual. Moving to a new country takes optimism, ambition and tolerance for risk — all factors that drive many immigrants to start businesses of their own. Immigrants found businesses at twice the rate of the native born, starting about 30% of all new businesses in 2016 and more than half of the country’s billion-dollar unicorn startups. Many now-iconic American brands, including Procter & Gamble, AT&T, Google, Apple, and even Bank of America, were founded by immigrants or their children.

We take it for granted that America is the destination of choice for talented young people, especially those with vital technical skills. But nothing lasts forever. Since I arrived two decades ago, India’s tech scene has blossomed, making it far easier for kids to find opportunities without leaving the country. China, Canada, Australia and Europe are also competing for global talent by making it easier for young immigrants to bring their talent and skills, often including an American education, to join their workforces or start new businesses.

To shutter employment-based visa programs, even temporarily, is to shut out the innovation and entrepreneurialism our economy desperately needs. Worse still, though, doing so makes it harder for the world’s best and brightest young people to believe in the American dream and drives many to seek opportunities elsewhere. The true legacy of Trump’s executive order is that it will be far harder for American businesses to compete for global talent in years to come — and that will ultimately hamper job creation, slow our economy and hurt American workers.

Startups – TechCrunch

Nuvemshop, a Latin American answer to Shopify, raises $30 million

After several failed startup attempts and nine years spent building Nuvemshop into Latin America’s answer to Shopify, the four co-founders of the company have managed to raise $ 30 million in venture capital funding as they look to expand their business.

The new funding came from previous investor Kaszek Ventures and new lead investor Qualcomm, with participation from FJ Labs, IGNIA, Elevar Equity and Kevin Efrusy, from the longtime Accel Partners investor’s personal wealth.

It’s been a long road since Santiago Sosa, Alejandro Vazquez, Martin Palombo and Alejandro Alfonso first began working together in Buenos Aires. The quartet started on their entrepreneurial journey trying to develop a marketplace software product for Latin America, but when that didn’t take off, they turned their attention to a more basic problem — how to get small and medium-sized businesses selling online.

Now the company boasts 65,000 businesses that use its platform providing everything from billing and payment processing to logistics and shipping solutions transacting over $ 100 million per month in sales. Operating as Nuvemshop in Brazil and Tiendanube in the rest of the region, the company has offices in São Paulo, Buenos Aires and Mexico City, with plans to expand into Colombia and Peru in 2021.

Nuvemshop began as more of a consulting business and evolved into the suite of software tools that have managed to attract attention from investors like Qualcomm Ventures.

“Nuvemshop’s platform accelerates a company’s digital transformation and has enabled thousands of SMBs across Latin America to go digital by tapping into the company’s one-stop shop of seamlessly integrated solutions,” said Alexandre Villela, senior director of Qualcomm Technologies Inc. and managing director at Qualcomm Ventures Latin America. “We share their strong engineering focus and look forward to helping them scale their business with our investment.” 

Nuvemshop raised its first money in 2015 from Kaszek Ventures (a $ 5 million investment), and, as the business picked up steam, raised $ 7 million more from local investors.

It makes money by charging a subscription fee that begins at $ 3 per month and a transaction fee that decreases as customers buy more expensive subscription packages.

Now that the company has an established footprint in the region, it’s going to focus on three new areas of growth, according to chief executive, Santiago Sosa.

Nuvemshop chief executive, Santiago Sosa. Image credit: Nuvemshop

The company plans to launch a payment processing and logistics gateway of its own. That marketplace will give customers access to more robust shipping solutions thanks to the power of bundling lower demand into a single delivery and ordering system. Nuvemshop also pitches its customers an app store for connecting them to new developer tools.

Finally, the company intends to offer a broader array of financial services. It already offers payment processing, but will look to develop additional services around lending based on revenue.

Like Shopify, Nuvemshop provides a necessary ballast to the big e-commerce aggregation sites like MercadoLibre and Amazon. “Everything they do they try to optimize for the buyer,” Sosa said. That places incredible pricing pressure on retailers and Nuvemshop offers a direct sales alternative, with lower fees, according to Sosa.

The pent-up demand that Sosa sees, is fairly astonishing.

“People are talking about e-commerce penetration going from [roughly] 10% over total retail sales to [roughly] 20%, as it has happened in other countries. We see it differently, as we envision a massive disruption around commerce in the next 15 years, and are pretty confident that [roughly] 90% of retail will be somehow tech-enabled,” said Sosa, in a statement. 

 

Startups – TechCrunch

White Star Capital announces first close of €25.5 million digital asset fund for European and North American startups

Today White Star Capital announced the first close of its new around €25.5 million Digital Asset Fund. The new fund will invest in crypto-networks and blockchain-enabled businesses at each layer of the tech stack including protocols, infrastructure and applications. The Digital Asset Fund will deploy between around €425K ($ 500K) and €1.7 million ($ 2 million) in…

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