Happy new week guys!
Welcome to another exciting edition of the Big 5 Daily.
We have big news, U.S ride hailing giant, Uber Technologies Inc. is ready to announce a $3.1 billion cash and share deal to acquire their Dubai-based competitor, Careem Networks this week. Uber will pay $1.4 billion in cash and $.7 billion in convertible notes for Careem. The notes will be converted into Uber shares at a price equal to $55 per share.
We also have news that, Shenzhen Transsion Holdings, the makers of Techno, Infinix and itel smart-phones, has filed for an Initial Public Offering on Shanghai’s tech board, becoming one of the first among China’s home-grown technology champions to kick off President Xi Jinping’s fundraising project. The announcement did not disclose the amount of capital Transsion would raise. The IPO came as a result of counselling from an investment bank during a three-month period from December 2018 to March.
Moving on, South African media company, Africam now offers Safari experience to the world by live streaming HD footage from waterholes at various locations across Africa. The live streams connect people all over the world to the African wildlife with an aim to create an online community that focuses on education and conservation. Africam grants viewers access to hear wild animals live and unscripted in their natural habitat.
Next on the Big 5, Peter Tabichi, a teacher from Kenya was announced winner of the Varkey Foundation Global Teacher Prize of $1million funding. Peter is a Math and Physics teacher at Keriko Mixed Day Secondary School in Pwani Village, Kenya who gives 80% of his salary to provide uniforms and books for the poor. He visits the internet cafes to download online contents for his science lesson. The environment, once identified with drug abuse, teenage pregnancies, dropouts, and early marriages has now greatly changed. Huge congratulations to him.
Finally on the Big 5, Daystar Power, a solar energy company, has closed a $10 million USD investment with Verod Capital Management in partnership with Persistent Energy Capital LLC. In addition to the fund, the company has lined up an additional $16 million in debt financing to accelerate solar power expansion across West Africa. Daystar Power provides power solutions that integrates solar power and battery storage for commercial and industrial clients across Nigeria, Ghana and Tanzania.
That’s it for the Big 5 Daily.
Thanks for joining!