American PC innovation monster Oracle Corporation has been chosen as the triumphant bidder for TikTok’s US activities, after Microsoft said that its offer was dismissed by the parent organization, ByteDance Ltd.
This is coming seven days before President Donald Trump’s guaranteed date for finishing an arrangement to boycott the Chinese-claimed application in the United States.
As indicated by Bloomberg, a Wall Street Journal revealed that Oracle would be reported as TikTok’s believed tech accomplice in the United States. The Journal additionally included that the possible arrangement would not be organized as a through and through deal.
An announcement from Redmond peruses, “ByteDance let us know today they would not be offering TikTok’s US activities to Microsoft.”
Microsoft had, in an announcement, said that they were sure that their proposition would have been useful for TikTok’s clients, while additionally ensuring public security interests. This is coming after ByteDance had uncovered that they would not be offering TikTok’s US activities to Microsoft. Notwithstanding, ByteDance will require endorsement for the arrangement from the United States and China.
As indicated by a source, Microsoft, which was working with Walmart Inc, had at first been perceived as the most probable champ prior simultaneously, however this later cooled as more firms demonstrated intrigue. ByteDance didn’t approach Microsoft for an amendment of its underlying proposal even with ongoing indications of restriction to an arrangement from Chinese government authorities. This more likely than not given the contender, Oracle Corporation, a high ground in the dealings.
Microsoft, in its announcement, said that it was set up to make changes pointed toward tending to US public security concerns. It stated,
“To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combating disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.”
It can be recalled that the Trump administration had threatened to ban TikTok by mid-September, and ordered ByteDance to sell its US operations following national security concerns due to its Chinese ownership.
The company noted that it will be sharing its values and updates to its users through the status feature available on WhatsApp.
In the coming weeks, Whatsapp plans to display a banner on their App that will provide users with information on its new privacy policies that they can read at their own pace. And they will subsequently remind users to review and accept these updates to keep using the platform.
Over 175 million people message a WhatsApp Business account every day and more will want to do this in the future.
WhatsApp charges businesses to provide customer service on WhatsApp – not people. So, this new update is about optional business features that are a part of the broader efforts to make communicating with a business secure, better, and easier for everyone.
The company is building a business that puts people in control – what people choose to send to a business is up to them, not to WhatsApp.
WhatsApp also reminded its users that they are committed to protecting users’ privacy and security, so personal messages will always have end-to-end encryption, so WhatsApp can’t read or listen to them.
In case you missed it
- Earlier this year, WhatsApp announced that it will start sharing users’ personal information with Facebook.
- The tech giants got a lot of backlash from people concerning this privacy update and they have worked round the clock to clear the misinformation.
- Whatsapp’s new policy forced some users to seek Signal and Telegram as an alternative, as they consequently both experience a surge in downloads.
Jumia plans to spin off logistics and payment unit in a bid to become profitable
Jumia Technologies is laying out longer-term plans to spin off divisions and enter new countries.
Jumia Technologies announced a plan to spin off its logistic unit in Africa in a bid to boost revenues, which have been helped by the pandemic as e-commerce activities rose during the period.
This was disclosed by Co-Chief Executive Officer, Sacha Poignonnec, who said its time Jumia lays the foundation for future growth, in a Bloomberg report.
He added that the unit to be focused on is responsible for goods transport in 11 Africa countries it has operations in, including Nigeria and also the payments unit of the company, which enables Jumia to settle transactions.
The co-CEO said the company is exploring spinning off both units.
“We created something that does not really exist in Africa, which is an end-to-end logistics partner on the continent. We have built it from the get-go so that one day we are in the position to carve it out if we want to.”
Poignonnec added that Jumia in recent years has opened up its logistic units, enabling 3rd party suppliers in negotiating shipping and transport costs.
“The focus is on reducing losses and controlling costs, and deciding where to allocate our resources. No one questions the relevance of e-commerce as a business — and the opportunity in Africa is massive. Seven years ago, people were questioning how we are even going to do this, now the only question remains on profitability.”
He also added that as Jumia exits operations in some African markets, it still sees opportunities in some, especially Ethiopia, as being African focused enables the company and shareholders to have an exposure to the entire continent, citing institutional investors like MTN and MasterCard working with Jumia across the continent.
Jumia’s stock price has increased by more than 500% in the past 12 months.
What you should know
It was reported in August that Jumia recorded a loss after tax of N17 billion in the second quarter of 2020, despite the rampaging effect of COVID-19.
It was also reported last month that apart from the rebounding stock price, the company is recording positives in almost all performance indices in the year 2020.
In the Q3 financial results released on 10 November 2020, Jumia’s gross profit was €23.2 million ($27.3 million), a YoY increase of 22 percent.
Jumia’s gross profit after fulfilment expense reached €6.6 million, compared to a loss of €1.7 million in the third quarter of 2019, marking the first time that the Jumia Group scored a positive in its gross profit after fulfilment and advertising expenses.
Sanwo-Olu launches Nigeria’s first electric car, to complete Lagos-Badagry expressway
Sanwo-Olu unveiled the first Nigerian electric car named Hyundai Kona.
The Lagos State Governor, Babajide Sanwo-Olu on Friday, November 13, 2020, unveiled the first Nigerian electric car named Hyundai Kona.
The car, which is a product of Stallion Group, was launched at the VON Automobiles Nigeria in Ojo, Lagos State where the car was manufactured.
The new Kona, an Electric car is regarded in European motoring industry as the world’s number one, with the cost, put at about N24 million
While speaking during the unveiling of the product, Sanwo-Olu observed that VON has over 40 to 50 years of vehicle manufacturing history, when they were assembling various Volkswagen products.
Governor of Lagos State, Mr @jidesanwoolu today unveiled the first Locally-Assembled Electric Car called Hyundai-Kona at the Stallion Group Automobile Factory, Ojo Lagos. #ForAGreaterLagos @StalliongroupNG @gbenga_omo @drobafemihamzat pic.twitter.com/b8EAN4b6RQ
— Gawat Jubril A. (@Mr_JAGss) November 13, 2020
The governor was full of commendation for Stallion Group for the noble initiative, just as he promised that Lagos State Government will make provisions for electricity charging points for the vehicle across the state, to make it easy for users to enjoy their Electric Vehicles (EV).
The Governor also promised the completion of the Lagos-Badagry Expressway, which was started under the administration of former governor of the state, Babatunde Fasola, in order to facilitate business activities in the state.
Sanwo-Olu said, “Lagos-Badagry Expressway which has been expanded from 2 to 10 lanes will soon be complete, we are not rushing the road; we are building a first-class road construction project.’’
The Managing Director, VON Automobiles, Mr Rohtagi Manish, while explaining the essence of the launch, pointed out that Kona will change things positively in the Nigerian auto market.
According to Manish, the changes in global temperature and weather patterns are seen today are caused by human activity. Kona, he said, is one way to respond to the global weather challenges, so as to achieve a greener environment.
This appears to be a huge boost for the promoters of more environmentally friendly automobile and subsequently promote a green environment. This will also help to drive the Federal Government’s efforts to shift focus from petrol-based automobile to vehicles with a cheaper source of energy
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