Byron Allen, the 1980s comedian-turned-media-mogul, aims to acquire Tegna Inc in an $8 billion deal. The news comes months after it was reported that Allen’s Weather Channel’s business had taken a hit due to the pandemic as the TV advertising dried up, leading to piling debt load. Tegna, formerly owned by Gannett Co Inc, is a chain of 64 TV and radio stations that span 50 markets across the U.S. The deal could significantly boost Allen Media Group, which has amassed 33 local TV network affiliate stations. Allen — who came to
Facebook parent Meta Platforms Inc. is pushing the boundaries of artificial intelligence robots and is reportedly launching touch sensitivity with two new sensors it has created. They include a high-resolution robot fingertip sensor called DIGIT and a thin and replaceable robotic “skin,” known as ReSkin. DIGIT was first released in 2020 as an open-source design; it uses a tiny camera pointed at the pads to produce a detailed image of the touched item. While Reskin can help AI robots to discern information such as an object’s texture, weight, temperature, and state. According
An African startup described as the “booking.com for healthcare” by its founder has raised $1.5 million from its most recent round. RecoMed acts as a marketplace where patients can find and book services with healthcare professionals across South Africa. Sheraan Amod first founded the company after a brief stay in the U.S, where he experienced for the first time what it was like to book medical appointments online, which wasn’t the case back in his home country, South Africa. Mr. Amod then returned and created the company he refers to as
Nigerian automotive tech company Autochek has secured a $13.1 million seed round almost a year after raising $3.4 million pre-seed in November 2020. Pan-African VC firms TLcom Capital and 4DX Ventures led the recent fundraising. These are the same investors that led the startup’s pre-seed round. Other existing investors include Golden Palm Investments, Enza Capital, and Lateral Capital, invested as well. First-time investors included ASK Capital and Mobility 54 Investment SAS, the venture capital arm of Toyota Tsusho and CFAO Group. In total, Autochek has raised $16.5 million in two financing rounds. What service does
Bolt is set to roll out electric taxi options in South Africa four months after introducing e-bike food delivery services as part of its mission to expand across the continent rapidly. The move comes amid plans by Uber to test a carpooling and rideshare service in Nairobi, with ideas to also roll it out in Ghana and Nigeria. Bolt’s electric taxi option is part of the company’s “green category” initiative. The system lets riders only hail an electric or a hybrid vehicle – which is considered more environmentally friendly. The firm
UnitedMasters, the “record label in your pocket” for independent artists, has closed a $50M Series C at a $550M valuation to support and empower independent artists. The company is a full-service technology platform for independent artists seeking creative and commercial success while maintaining complete control of their music and financial future. It gives creators access to premium music distribution services, a suite of tools to help directly connect with their fans, and opportunities to connect with the world’s biggest brands through partnerships with the NBA, ESPN, TikTok, Twitch, and more. The startup record label
NYSE-listed e-commerce platform Jumia experienced a drastic change in shopping habits across its markets in Africa last year, as more shoppers bought everyday products as opposed to electronics. According to a newly released Jumia Africa E-commerce Index 2021 report – consumables were in demand across the African continent during the series of lockdown. Shopping for essentials such as foodstuff, fashion, and beauty products saw Jumia’s total sales value of Fast-Moving Consumer Goods grow by 13 percentage points last year, from 44% in 2019, the report said. The report also added that
Marcy Venture Partners, the venture firm co-founded in 2018 by Jay-Z, has just closed its second fund with $325 million in capital commitments. The firm describes itself as having a “consumer, culture and positive impact” investment strategy. The team has so far written checks to at least 21 companies, including Rihanna’s lingerie company Savage X Fenty. Earlier this year, they also began investing in crypto projects, supporting Bitski, a San Francisco-based startup NFT marketplace, and investing more recently in spatial LABS (sLABS). This tech incubator focuses on metaverse and blockchain-based
Florida A&M University has received a $100,000 grant from Wells Fargo to launch a small business incubator to assist women and minority-owned businesses. The grant will advance hiring initiatives for a program manager to oversee operations of the incubator and modernize an existing location for entrepreneurs to call home. Funding will also enable the incubator’s staff to support program participants in exploring the feasibility of their business concepts, launching, expanding, and scaling their businesses. The remaining funds will support future marketing and promotions throughout the development of the project. The
A recent study conducted by LendingTree revealed that North Carolina is the best state to start a business in, but California is considered the worst. It’s important for founders – particularly those of color – to pick the right place to start their business as it can potentially make or break their startup. The Lending Tree study scored the 100 largest US metro areas by population based on factors like the proportion of residents who hold a bachelor’s degree, state corporate tax rates, and local housing costs. Of course –
