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In its IPO filing, Reddit highlights a significant revenue stream beyond traditional ads – lucrative AI deals
In its long-awaited filing for an initial public offering, Reddit has announced that artificial intelligence (AI) will play a significant role in its business model. The platform, known for hosting discussions on diverse topics, primarily generates revenue through ad sales. The IPO filing reveals a new revenue stream: selling user-generated content to companies developing chatbots,
Navigating Business Complexity with Digital Innovation
As business leaders navigate the multifaceted challenges resonating across industries, the current climate presents a landscape of economic hardships, geopolitical uncertainties, and intricate political complexities. These barriers pose formidable challenges, hindering the trajectory of business progress. However, within this labyrinth of challenges, an unparalleled opportunity appears for companies to pivot towards smarter and more innovative
Humanoid robot start-up Figure AI valued at $2.6 billion as Bezos, OpenAI, Nvidia join funding
Figure AI, a start-up specializing in humanoid robots for challenging tasks, has achieved a valuation of $2.6 billion in its latest funding round, attracting investments from notable names such as Jeff Bezos, OpenAI, and Nvidia. The company, established in 2022, has developed the Figure 01 robot, designed to perform tasks resembling human movements. With applications
The Building Company’s Annual Supplier Expo – where technology meets hardware
If you didn’t hear anything about the supplier expo that was hosted in Cape Town recently, then you’re in luck because Business Tech Africa attended it. This was the annual supplier expo hosted by The Building Company which is a mother company to Buco and Timbercity. Long story short, it’s a hardware lover’s paradise. The
Veeam Launches Veeam Data Cloud to Deliver the Industry’s Leading Data Protection and Recovery Services
Veeam® Software has announced the new Veeam Data Cloud, which is built on Microsoft Azure and delivers the confidence and reliability of the industry’s leading platform with the ease and accessibility of a cloud service. Today, Veeam Data Cloud provides backup-as-a-service (BaaS) for Microsoft 365 and Microsoft Azure, enabling radical resilience and leveraging powerful data protection
Innovators, Entrepreneurs, and Researchers Take Top Spots at the 13th GAP Awards
The Gauteng Accelerator Programme (GAP) Innovation Competition, in collaboration with the Technology Innovation Agency (TIA) and Emory University Guizzeta Business School, Atlanta, Georgia, proudly announces the winners of its 13th annual awards ceremony. This year's theme, "Solving Societal Challenges Through Technology Innovation," reflects the commitment of South Africa's innovative entrepreneurs to addressing critical issues facing
6 Green IT trends to watch in 2024
Sustainability has become a key focus for many businesses around the world. Between climate change and dwindling natural resources, people are more aware than ever of their impact on the wellbeing of the planet. In South Africa, 98% of adults are willing to make changes to combat sustainability issues. Meanwhile, 76% of people believe businesses
She Code Africa Secures FedEx Grant to Train 100 African Women in Tech
She Code Africa has received funding from FedEx, one of the world’s largest express transportation companies, to help 100 African women kick start their careers in the tech industry. This support includes teaching participants tech skills, guiding their career paths, providing resources, and offering internship opportunities. In an impactful initiative and exciting partnership with FedEx,
Leaked iPad Pro 2024 drawings give a sneak peek at the likely design
The fast-approaching launch of the iPad Pro 2024 is surrounded by speculation and leaks, with official-looking sketches of the tablet's design recently surfacing. Shared by MacRumors, the CAD (computer-aided design) drawings display the front, back, and bottom edge of the rumoured 11-inch and 13-inch iPad Pro 2024 models. While the source of the drawings is
HMD announces the launch of the Barbie Flip Phone in 2024
Just when you think you have seen it all in the world of tech, comes a phone made from cartoons. Yes. HMD has partnered with Mattel to release a Barbie Flip Phone in the middle of this year. Lars Silberbauer who is the Chief Marketing Officer for HMD (Human Mobile Devices) said: “Is it time
Lordstown Motors currently facing charges for allegedly providing misleading information to investors
Lordstown Motors, which is currently undergoing Chapter 11 bankruptcy, is also facing charges from the Securities and Exchange Commission (SEC) for allegedly misleading investors about the sales potential of its Endurance electric pickup truck. As part of a settlement, Lordstown will pay $25.5 million, allocated to resolve ongoing class action lawsuits. The SEC contends that
Spotify introduces new ‘Song Psychic’ feature
Spotify is introducing a brand new feature called Song Psychic, extending its personalized data insights beyond the popular Wrapped year-end review. With Song Psychic, users are able to ask questions, similar to those directed at a psychic or Magic 8 Ball, and receive responses in the form of songs. To access the feature, users can
Google is enhancing the helpfulness of search suggestions in Chrome
Google is unveiling enhancements to search suggestions in Chrome, with the aim to provide users with more helpful and inspirational search experiences. These changes include expanded search suggestions based on collective user queries, additional images for suggested searches, and improved functionality in low-connectivity scenarios. In the updated Chrome experience, users signed in on desktop will
Facebook looking to shut down its news tab in the U.S. and Australia
Meta is taking steps to distance itself from news-related regulations and payment complexities by announcing the removal of the news tab on Facebook in the U.S. and Australia, with plans to sunset the product in April 2024. The decision comes after a similar move last year when Meta discontinued Facebook News in the UK, Germany,
Vodacom lodges application for leave to appeal the "Please Call Me" judgement
In a statement shared with Business Tech Africa, Vodacom has confirmed that it has lodged its application for leave to appeal this judgment and order to the Constitutional Court of South Africa (“Constitutional Court”). As a responsible corporate citizen, Vodacom is respectful of the judicial system and abides by the laws of South Africa. Having considered
Unpredictable global trade reveals the benefits of AfCFTA and intra-African trade as South Africa celebrates first AfCFTA export to Ghana
Amidst disruptions to traditional trade routes, unpredictable shipping times and soaring freight tariffs caused by the conflict in the Red Sea region, the opportunities the African Continental Free Trade Area (AfCFTA) agreement creates for the development of intra-Africa trade are becoming apparent, says Standard Bank. The African continent holds markets that connect 1.3 billion people
Choosing the right cybersecurity partner in the supply chain sector
Finding the right cybersecurity specialist ranks among a logistics firm’s most important tasks. With South Africa now among the world’s biggest cybercrime hotspots, these companies are scrambling to guard against new and highly sophisticated attacks. The ransomware breach of Transnet in 2021 exposed just how damaging cybercrime can be to local supply chains and the
Vodacom Group enhances employee offerings to endorse inclusivity and promote well-being
Vodacom Group, recently ranked by the Top Employers Institute as the continent’s number one employer, has now enhanced some of its employee offerings as part of its commitment to creating an inclusive work environment across its markets. With an emphasis on Compassion, Acceptance, Respect and Empathy (C.A.R.E.), the company’s enhanced wellness initiatives include support for
Sony lays off 900 gaming employees
Sony Group Corp. is set to cut 900 positions, approximately 8% of its global workforce, within its video game division. This move includes the closure of a group in London and will affect subsidiaries such as Insomniac (Spider-Man), Naughty Dog (The Last of Us), and Guerrilla Games (Horizon). Guerrilla Games is expected to reduce its
Woolies online sales grow tremendously, yet, still weaker than Sixty60
South African retailer Woolworths experienced a notable surge in online sales during the first half of the 2024 financial year. In the 26 weeks ending on December 24, 2024, online sales in the fashion, beauty, and home categories increased by 26.9%, contributing 5.4% to South African sales. The company’s online food sales also witnessed a