Newsletter 31102023

Newsletter 31102023: X is officially worth $19bn, down from $44bn Elon Musk paid

'The Simpsons' may have dropped another prediction about Elon Musk

So “The Simpsons” have come up with another prediction in the fourth episode of season 35 for The Simpsons called “Thirst Trap: A Corporate Love Story. Some say most of their predictions have come true. The Fox programme had predicted Musk would purchase Twitter in a previous episode before the billionaire paid $44 billion for the platform in 2022.

Now it has predicted about the future involving Elon Musk, his space rockets and his ownership of X (formerly Twitter). Check it out for yourself

SOCIAL MEDIA

Facebook and Instagram Introduce New “No Ads” Subscription Option in Europe

In response to changing European regulations, Facebook and Instagram are set to roll out a new subscription service for users in the EU, EEA, and Switzerland. Starting in November, users from these regions will have the option to either continue using the platforms for free, supported by ads, or pay a subscription fee to enjoy an ad-free experience. Crucially, while subscribers won’t see ads, their information will also remain untouched for advertising purposes.

The subscription cost is set at €9.99/month for web users, while those on iOS and Android will be charged €12.99/month. Importantly, this fee covers all linked Facebook and Instagram accounts in a user’s Accounts Center, though only until March 1, 2024. Post this date, an extra charge, amounting to €6/month on the web and €8/month on mobile platforms, will be levied for each additional account in the user’s Accounts Center.....…Continue reading

X is officially worth $19bn, down from $44bn Elon Musk paid

Last year, Elon Musk purchased Twitter for $44 billion, and now, renamed as “X”, its value has decreased by 55% to $19 billion. This new valuation was confirmed when, on Monday this week, employees at X were awarded equity in the company at a valuation of $19 billion, or $45 per share.…..Continue reading

INVESTMENTS

StarNews Mobile raises $3 million to enhance creator support

StarNews Mobile, an African-centric mobile video network, has successfully secured a $3 million pre-Series A funding. Established as a platform for African content creators, StarNews provides a unique opportunity for monetization through its subscription model. The platform currently caters to six African nations, including its birthplace Cameroon, as well as Nigeria, Ghana, Congo, Benin, and Ivory Coast.

The brainchild of CEO Guy Kamgaing, who launched the venture in 2017, StarNews’s foundations lie in Kamgaing’s rich 10-year background in content monetization. With significant emphasis on Value-Added Services (VAS), his insights into content monetization paved the way for StarNews’s inception..….Continue reading

OTHER STORIES

• Kenyan Government celebrates milestone with Local Smartphone Assembly Plant. Kenya, today, marked a significant milestone as President William Ruto unveiled the East Africa Device Assembly Kenya Limited (EADAK), a joint venture between local mobile network operators Safaricom, Jamii Telecommunications, and Chinese company Shenzhen TeleOne Technology. EADAK’s assembly facility has the capacity to produce up to 3 million mobile phone devices annually. These devices will be available nationwide at Faiba and dealer stores, Safaricom outlets, and the Masoko online platform, all at an affordable price of $50..….Continue reading

• Airtel Africa sees 9.7% subscriber growth due to data and mobile money services penetration. Airtel Africa has unveiled its performance report for the half-year ended 30th September 2023, showcasing resilience and remarkable growth in its operations across all regions. One of the notable takeaways from the report is the impressive growth in Airtel’s customer base. This figure has seen a 9.7% rise, reaching 147.7 million customers. The driving force behind this expansion can be attributed to the continued penetration of mobile data and mobile money services…..Continue reading

• Q3 2023 Results: MTN Nigeria revenue rises 21.76% y-o-y but witnesses a 75.7% dip in PBT. MTN Nigeria Communications Plc faced a significant decline in its profit margins for the third quarter of 2023. Despite a commendable revenue generation of revenue of N614.2 billion in Q3 2023, the company’s profit before tax witnessed a severe dip of 75.7% year-on-year…..Continue reading