Microsoft has confirmed the acquisition of Github, this comes after almost a week of rumours and speculations. Bloomberg reported that the software giant has agreed to acquire GitHub, and that the company chose Microsoft partly because of CEO Satya Nadella. Business Insider first reported that Microsoft had been in talks with GitHub recently.
GitHub is a vast code repository that has become popular with developers and companies hosting their projects, documentation, and code. Apple, Amazon, Google, and many other big tech companies use GitHub. Microsoft is the top contributor to the site and has more than 1,000 employees actively pushing code to repositories on GitHub. Microsoft even hosts its own original Windows File Manager source code on GitHub.
GitHub raised $350 million and we know that the company was valued at about $2 billion in 2015. The San-Francisco based company has now sold to Microsoft in what looks like a Lucrative deal considering they are selling at a price more than 3 time their valuation in 2015. Also putting into thought the potential value of the Microsoft stock which is at an all time high, in a few years this deal could be worth over $10 B.
GitHub, which hosts 27 million software developers working on 80 million repositories of code. Despite its popularity with enterprise users, individual developers and open source projects, they have never turned a profit and even made significant loss of $66 million over three quarters in 2016. Therefore,chances are that the company decided that an acquisition was preferable over trying to IPO.
Nadella in his prepared remarks stressed Microsoft’s heritage as a developer-centric company “We recognize the responsibility we take on with this agreement,” he said. “We are committed to being stewards of the GitHub community, which will retain its developer first ethos operate independently and remain an open platform. We will always listen to develop a feedback and invest in both fundamentals as well as new capability once the acquisition closes.”
African agri-tech grows by 110%, gets more than $19m investment in 2 years
Investments in agriculture technology in Africa have seen $19-million invested in the past two years, with a new report showing agri-tech startups have grown 110% in the period. There are 82 agri-tech startups operating across the continent at the start of this year, 52% of which started in the last 24 months, according to the Agrinnovating for Africa: Exploring the African Agri-Tech Startup Ecosystem Report 2018 report by Disrupt Africa. Kenya and Nigeria both lead the agri-tech markets, followed by Ghana, and collectively account for over 60% active startups in the sector. Although the report tracks annual startup activity in the agri-tech space since 2010, the authors say it began to boom in 2016, after which 43 new ventures were launched. “The research shows that while Kenya was the early pioneer of the African agri-tech sector, accelerating interest in West Africa over the past two years means this region now dominates the market; and is home to two of the top three agri-tech ecosystems on the continent,” Disrupt Africa co-founder Tom Jackson said in a statement. ““Everyone knows how important the agricultural sector is across Africa, but until very recently it remained relatively untouched by tech innovators. That is suddenly changing as entrepreneurs and investors realize the scale of the challenges facing farmers, and spot opportunities to reach huge addressable markets.” Fundraising grew 121% from 2016 to in 2017 alone. “The scope for innovation in the agricultural sphere is vast – a refreshed take on the sector could unlock huge value for the whole of Africa,” says Gabriella Mulligan, co-founder of Nairobi-based Disrupt Africa. “Behind the scenes, there has been formidable acceleration in the agri-tech market recently, and it is one of the most interesting spaces to watch in Africa today.”.
Startups serving as eCommerce platforms to the industry have the largest share, accounting for 32.9% of total startups in the space. Other popular sub-sectors of the agri-tech space include information and knowledge sharing, and fintech solutions to farmers.
nHub are a technology innovation hub that provides a wide range of Tech Inclined products and services, as well as incubation and acceleration programmes focused on innovation, job creation, social impact, skill acquisition and youth engagements.
They also help Start-ups scale their businesses, bring innovative services to the market and reach new customers through our connections. work span from conceiving ideas, trainings, incubation, collaboration and creation of services.
nHub Nigeria co-founder and chief executive officer (CEO) Daser David said the hub had launched with the intention of building tech products for the markets of Lagos and Abuja, as well as other major cities in Nigeria and Africa. “That aim, however, has evolved, with nHub having spent the last three years upskilling youths in software development, and looking for a way to ensure these young people use their skills locally rather than leaving for bigger cities.” “We thought that would be robbing the state of these talents. Also, because we want these trained youths to be mentors to upcoming youths, sending them out is not going to sustain the ecosystem,” David said. “Our best bet is to offer them on remote placements, knowing that we would still have them to inspire the next cohorts. So we took this option. This year alone we have received calls on a daily basis for their services.” This outsourcing service has now been formally launched, with nHub establishing a new office for developers working on remote jobs. David said the service was part of nHub’s strategy for becoming sustainable. It currently has 32 remote developers working for companies within and outside of Nigeria.
Apply: WAAW Foundation She Hacks Africa Coding Bootcamp (Cohort 6) for Students 2018
Are you a developer still learning your craft and wish to accelerate your learning curve? Do you have a dream to build useful application that provide solutions to problems in your community? She Hacks Africa Coding Bootcamp 2018 is exactly for you!
She Hacks Coding Bootcamp is an entrepreneurship and Leadership training program for young women and men between the ages of 18-30 years with a mission is to empower African youths in Software programming who will develop the relevant Software Application that will change the world.
The full training is four weeks in which students work on weekly projects that increase in complexity as the training progresses. The classroom is organized in teams of 4 participants that work together throughout the training period, to develop an outstanding project at the end of the boot camp.
Eligibility Criteria 1. Must be an African youth, 18 years and above. 2. Should be completing or have completed University or Higher Education. 3. Must have a strong academic background. 4. Prior experience coding or a degree in STEM is encouraged but not required.
HOW TO PARTICIPATE
Apply online (Link is below)
Take out assessment test
Acceptance and On-boarding.
The duration of the program is July 2 – July 27 2018. Application closes of 10th June 2018. Apply
We hinted last month about an acquisition talk between Konga and Yudala, it has now been confirmed that it has finally closed and Konga’s journey as an independent company just came to an end.
Zinox group is being reported as the acquirer. Zinox being the parent company of Yudala acquired the company for $10m – $15m (according to our source close to the negotiation) and the two companies will be integration with potential to expand across Africa.
Yudala model is different, it combines offline with online commerce giving customers a complete experience. We see this as a strength and could help it better execute e-commerce strategies more than Konga could (given its burn rate).
The acquisition includes; Konga.com, Kongapay, and KOS-Express. This is a total package. The acquisition will also see the company recall some fired staff in a bind to revisit some products and build more capacity as it starts a new journey.