Hi Guys! This week has been incredibly great for startups in Africa, from funds raised by Carry1st to Paystacks expansion and MTN’s positive Q1 results.
However, the week was not without its surprises as Microsoft Founder, Bill Gates announced his divorce, Twitter suspended Trump clone accounts and others.
Below we have curated some of the major stories around the globe you might have missed.
IBM’s world’s first 2nm chip
IBM has announced a major breakthrough in chip technology. The tech company says it created the world’s first 2nm chip. Its competitors, Apple and Huawei are still using processors based on TSMC’s 5nm technology node process.
Explaining the architecture of the chip, IBM says it squeezed 50 billion transistors onto a chip the size of one’s fingernail. It explained that the chip can help processor makers deliver a 45% performance boost with the same amount of power as current 7nm-based chips.
In terms of consumer use, mobile devices with 2nm-based processors could have up to four times the battery life of the ones with 7nm chipsets. IBM claims you might only need to charge those handsets every four days.
Ethereum Co-founder now the world’s youngest crypto billionaire
Ethereum co-founder, Vitalik Buterin is now the world’s youngest crypto billionaire, according to Forbes.
The 27-year-old’s ether address, which he disclosed in October 2018, currently holds 333,520 ETH, worth $1.09 billion at the ether price of $3,278 on Monday.
The cryptocurrency had surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year. It also means that Etherum now has a market capitalization of $376 billion, second only to Bitcoin’s $1.08 trillion.
MTN lists on Rwanda Stock Exchange
This week, MTN Rwanda listed its shares on the Rwanda Stock Exchange (RSE). This makes it the first mobile network operator in the country to list its shares on the RSE.
Similarly, MTN was also the first Mobile Network Operator to be listed on the Nigerian Stock Exchange (NSE). It listed on the Premium Board of the NSE on May 16, 2019.
With this development, Crystal Telecom Limited’s shareholders now hold a direct 20% stake in MTN Rwanda and can trade their MTN Rwanda shares directly on the RSE.
TechCrunch parent company sold for $5Bn
TechCrunch parent company, Verizon Media has been sold to a leading global investment manager, Apollo in a $5 billion deal.
A breakdown shows that the equity firm will be paying $4.25 billion in cash, along with preferred interests of $750 million. Verizon will still keep 10% of the company.
The new company will be known simply as Yahoo, and it will continue to be led by current CEO, Guru Gowrappan.
Facebook independent oversight board upholds Trump’s indefinite ban
On Wednesday, Facebook’s Oversight Board upheld the suspension of the account of former US President, Donald Trump. However, it says the company must review its decision within six months.
According to the board, Facebook must review the matter to determine and justify a proportionate response that is consistent with the rules that are applied to other users of its platform.
On January 7, Facebook suspended Trump on the accusation of inciting violence with his post during the Capitol riot. Other social media platforms like Twitter similarly suspend the former world leader.
Recently, Twitter suspended some accounts suspected of tweeting on behalf of the former US president.
You can check out other news that happened during the week here. Have a nice weekend!!
If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.
Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.