Hunting unicorns in the desert: The sudden rise of Arab startups – The Entrepreneurial Revolution Remaking the Middle East.
M&A: Amazon.com Inc acquired Souq.com, a Dubai-based eCommerce platform, for $580M Funding: Careem Networks FZ, a regional Uber Technologies Inc rival, became the Middle East’s only Unicorn – a tech startup with the valuation over $1Bn drew backing from Daimler AG and Saudi billionaire Prince Alwaleed bin Talal. In the rapidly evolving gig economy, there is a new way to car shop: spot one on the road that appeals, snap ... read more
While most other Wall Street veterans are embracing the cyptocurrency, the JP Morgan CEO says bitcoin is "worse than tulip bulbs and it won't end well."....FYI:Tulips are still a successful export product in the Netherlands:) JPMorgan Chase CEO Jamie Dimon took a shot at bitcoin, saying the cryptocurrency "is a fraud." "It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said at a ... read more
Alibaba founder and executive chairman Jack Ma turned the company's 18th birthday celebration into a thriller with a Michael Jackson-inspired dance performance. The company has had a lot to celebrate. Stocks hit an all-time high on Aug. 17 after the company beat earnings estimates. Full article on CNBC here >> This article, by Michelle Castillo, first appeared on CNBC.com on the 12th September 2017. read more
With the smallest of compliance slip-ups costing banks millions of dollars - fines across the industry are expected to surpass $20B this year. Here's a list of some of the global firms that help banks and financial institution mitigate risk and stay compliant: Fenergo Founded in 2009, Irish startup Fenergo has taken in $80.43M in funding from investors that include asset management group Investec. Digital Reasoning Founded in ... read more
An interesting piece for Crunchbase written by Jason D. Rowley a venture capital and technology reporter based in Chicago, that we thought worth sharing. For many entrepreneurs, especially first-time founders, raising outside capital can be daunting. Between all of the new vocabulary – like “term sheets,” “capitalization tables,” “pro rata,” and different valuation metrics – and the very real legal implications of the agreements being signed, it’s easy to get overwhelmed. ... read more
U.K-based mortgage broker Habito raise 18.5 million pounds or $24 million through series B funding led by the venture capital Atomico. The online chatbot created by Skype founder Niklas Zennstrom plans to use the new investment to integrate its technology with retail banks and high street lenders to offer real time mortgage approvals. It plans to spread across home and life insurance spectrum. Nine months back, Habito, the algorithm powered ... read more
A pragmatic assessment of disruptive potential in financial services. The Disruptive Innovation in Financial Services project was launched at the World Economic Forum Annual Meeting 2014 in Davos, in a world still consumed with navigating the aftershocks of the global financial crisis. But in the wings, a new challenge for the financial system was growing in the form of FinTech – new entrants that promised to rapidly reshape how financial ... read more
Technology adoption starting in the Rest rather than the West is one of the big 21st century megatrends.
First the Rest then the West This is one of the big stories of our time. It is the end of what historians have called the Great Divergence, when the Western economies rose to dominance. For most of the 20th century, technology was limited to the West. Countries in the Rest (formerly known as developing, then emerging, then rapid growth economies) were “tech deserts” until those economies started to open ... read more