Author: Staff Writer

Mark Zuckerberg of Meta has announced that it was letting go of 11,000 employees (13%) to become a leaner and more efficient company. Innovation Village reported some days ago that the company was planning a massive layoff of workers. The layoffs cuts across all of its companies including Facebook, Instagram…

The major headline in the cryptocurrency world is that Binance is acquiring FTX.com. Now this has a major adverse consequence on the fortunes of one of the founders of FTX.com, Sam Bankman-Fried (SBF). 30 year old Sam Bankman-Fried is the CEO and co-founder of FTX.com, a cryptocurrency exchange and FTX.US,…

Nigerian-founded digital bank, Kuda, is launching in the United Kingdom today with a UK-Nigeria remittance product. Kuda says this product is motivated by the current experience of Nigerians trying to remit money to families and friends in Nigeria. According to data, it costs the sender 3.7% of the sent amount…

Binance announced on Tuesday that it has signed a non-binding agreement to acquire one of its competitors, FTX.com, to “cover the liquidity crunch.” It however said that the acquisition is subject to a full due diligence which is coming up in a couple of days. The Binance CEO, Changpeng Zhao,…

Sacha Poignonnec and Jeremy Hodara, co-CEOs of Jumia are leaving the company. The Co-CEOs made this known individually on their respective LinkedIn pages. Both of them have been at the helm of affairs of the only African publicly traded company on the New York Stock Exchange for eleven years. Sacha…

Many business owners find it hard to adhere to cybersecurity compliance systems. They find themselves stuck in the middle of a sea of security controls, acronyms, and countless rules. These sets of requirements often become highly overwhelming and can be demanding at various levels. But considering the increasing sophistication of…

Altcoins are digital assets that are alternatives to Bitcoin. They are often referred to as “Bitcoin alternatives” or “altcoins.” These are cryptocurrencies that were developed after Bitcoin. After many investors missed out on the early adoption of Bitcoin, they took advantage of these new coins. While Bitcoin investment has been…

Co-founder and former CEO of Twitter, Jack Dorsey, has finally commented about the recent layoffs at Twitter. Elon Musk, the new owner fired about 50% of the staff of the social media company after taking over the company. He tweeted, “Folks at Twitter past and present are strong and resilient.…

“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday. We recognize that this will impact a number of individuals who have made valuable contributions to Twitter but this action is unfortunately necessary to ensure the…

Samsung has released a new video ad titled “On the fence” mocking Apple for not having a foldable phone and iPhone users having to wait for this. In the video ad, an iPhone fan is on a fence moving from “Apple” compound to “Samsung” compound. An iPhone user asks the…

Billionaire Elon Musk has declared that Twitter Blue, the company’s paid verification feature will now cost $8 per month as against $19.99 as initially proposed. Interestingly I don’t think he did any cost benefit analysis. He arrived at the price when celebrated horror author said in a colourful way that…

Amazon Web Services (AWS) opened an office in Lagos on Tuesday. Amazon Web Services is a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments, on a metered pay-as-you-go basis. These cloud computing web services provide distributed computing processing capacity and software tools…

Elon Musk is officially the only Director on the board of Twitter after the dissolution of the current board. The billionaire made this known in a SEC filing on Monday. This is as detailed below: Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory…

Billionaire Elon Musk wants to change the company’s optional Twitter Blue $4.99 a month subscription into a more expensive $19.99 a month subscription that also verifies users. He has ordered Twitter employees to build and implement a paid Twitter verification feature or else they will be fired! The deadline for…

Latest results announced by MTN Nigeria shows an increasing contribution from Data, Fintech and Digital operations to the bottomline of the company. Service revenue for the period ended September 2022 showed a 20.7% increase year-on-year to N1,452.7 billion. While Profit after tax (PAT) grew by 22.1% to N269.0 billion. The…

SmallSmall, a Property technology (Proptech) startup based in Nigeria, announced that it has raised $3 million in a seed funding round to expand into major cities including Enugu, Jos and Port-Harcourt before the end of Q1, 2023. Participants in this funding round include Techstars Toronto which already invested $120k during…

The costs involved are some of the factors you need to consider when you’re running your own business, and there’s no doubt that there are many when you’re an entrepreneur. That’s why most business owners like yourself are constantly looking for ways to cut down on their expenses without negatively…

For their innovativeness, convenience, transparency, and security, cryptocurrency coins have become a popular asset among individual traders. But these digital assets have yet to become mainstream in the business world, which is populated by business owners who understandably have lower risk appetites compared to individuals who are more drawn to…

The Federal Inland Revenue Service (FIRS) revealed that it has partnered with a Fintech platform, e-Technologies Global Ltd.’s Sentinal National Payment Gateway to automate the administration of taxes on online gaming. This was disclosed by the agency’s executive chairman, said in an emailed statement made available to Innovation Village. The…

Elon Musk has finally officially taken over Twitter after months of drama by paying $54.20 per share, equal to about $44 billion. He had confirmed in early October that he was going ahead with the purchase in a letter by Elon Musk and his representatives. He celebrated this with a tweet on…