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News

  • InMobi launches global mobile payment solution, ad network combo

    InMobi, a large, global independent mobile ad network, has announced the launch of a performance-based global mobile payments solution it is calling SmartPay. The company says this offering is "a first" because it combines InMobi’s large global ad network of nearly 32-billion ads monthly in 200 countries with a mobile payments solution. The company says that tracking from ad to conversion is a "major leap forward" for developers and digital goods providers globally. ...

  • Top two Alibaba execs resign over fraud allegations

    China's largest e-commerce group, Alibaba.com, has confirmed that two of its top executives, Chief Executive David Wei, and Chief Operating Officer, Elvis Lee, have resigned following a probe that uncovered over 2 000 cases of fraud. The Guardian reports that "an internal investigation showed sales staff 'intentionally or negligently' allowed more than 2 300 fraudsters to set up verified stores." While neither of the execs were directly implicated in the probe, "it took senior management at the online marketplace at least nine months to take action", a delay which has resulted in the resignations of the two executives. Alibaba has...

  • Where in the world is CrowdFund?

    Almost a year ago, or eleven months ago to be precise, a brilliant crowd-based angel investment project was introduced to the South African tech startup stage, called Crowdfund. The idea, started by well-known web strategist Eve Dmochowska, included big plans for crowdsourcing funds for worthy local startups. The idea behind it all was to provide the capital, know-how and networking capability required by young entrepreneurs to launch prototypes of their ideas, in exchange for equity -- a dream come true for any entrepreneur. Dmochowska’s project shot off the starting blocks like Usain Bolt at the Olympics. By the end...

  • Groupon moves into South Africa, India, Israel via new acquisitions

    Groupon, the famous collective online buying phenomenon, has announced the launch of Groupon India, Groupon Israel and Groupon South Africa via acquisitions of similar daily-deal sites in those countries, namely SoSasta, Grouper, and Twangoo. Using the principles of collective buying, Groupon negotiates discounts with businesses and shares them with subscribers via free daily emails. The deals are activated only when a minimum number of people agree to buy, encouraging subscribers to share...

  • Groupon raises $500m

    Internet sensation Groupon, which specialises in dishing out local bargains, says it has raised $500-million, just weeks after rejecting a multi-billion-dollar takeover bid by Google. The mega-financing, revealed by the Securities and Exchange Commission (SEC), was part of a funding round launched on December 17 that could fetch up to $950-million dollars. Google was believed to have offered more than five billion dollars to buy up the online discount shopping site early this month,...

  • Popular SA magazines go digital via kalahari.net

    One of the country’s largest online retailers kalahari.net has expanded its digital content offering by selling electronic versions of some popular magazine titles online, mainly from the Media24 stable. These include You, Huisgenoot, Go!, Ideas and other titles. They are now available for purchase in digital format, with others to be added on an ongoing basis. Gerjo Hoffman, Senior Category Manager of eContent at kalahari.net says the addition of eMagazines to kalahari.net’s offering...

  • 11 top African tech startups to watch, says Seedcamp

    Seedcamp, a European micro-seed fund that invests in early stage startup companies, has selected 11 South African technology startups to possibly attend the Seedcamp Week programme held in September in London, UK, where they will be in line for a potential €50 000 investment. Seedcamp, in conjunction with the Tech4Africa conference, put out a call for applications for funding and received more than 40 entries from technology startups across South Africa. The selected African entrepreneurs will have a rare opportunity to pitch their businesses at a group of people connected to powerful investors, mentors and startups throughout EMEA, with one...

  • Kalahari.net expecting big things from its new and used goods platform

    South African online retailer kalahari.net is forecasting impressive growth by the end of the year from Marketplace, its new and used trading platform which was launched in February this year. Kalahari.net believes that the trading platform, which lists both used and new products for sale, will provide South Africans with a way to earn extra money, which is especially important in the current economic climate, and speaks to South Africa’s natural entrepreneurial spirit. “The launch of our marketplace allows online users to sell their new or used products on a platform that has an enormous database of existing customers and that is...

  • Saul Klein: Price of SA broadband an ‘absolute disgrace’

    One of South Africa’s most successful exports, web entrepreneur and venture capitalist Saul Klein, has labelled the cost of broadband in his home country “an absolute disgrace” and urged the members of The Silicon Cape to function as a pressure group in lobbying for cheaper broadband. Klein, who was born in Johannesburg and is married to a South African, currently manages a $2.5-billion venture capital fund, and is a “massive believer” in early stage venture capital. His CV reads like a greatest hits of the Internet over the last 10 years, from early work at Blogger, last.fm and Betfair then...

  • FNB announce host of PayPal features, plan to implement Rand

    South African bank First National Bank (FNB) rolled into a crisp and windy Cape Town last night with a challenge to entrepreneurs to embrace the opportunities presented by its new partnership with international e-commerce giant, PayPal. It was The Silicon Cape's, a local body formed to support and promote the web community, third networking event was hosted by FNB and included an introduction by the bank’s CEO Michael Jordaan, who painted a picture of entrepreneurs as people who are “intellectually curious and unhappy with the way things are”. Paypal was invented by South African Elon Musk so it's...