Author: Staff Writer

HackerRank, the developer skills company, announced $60 million or R873 million in Series D funding led by Susquehanna Growth Equity. To date, HackerRank has raised more than $115 million or R1.6 billion in total funding. HackerRank will use the funding to fuel continued growth and accelerate its ability to drive technical hiring for the most in-demand roles and skills at companies across the globe. The funding will also be used to expand the depth of services provided by its global team, invest in technical innovation and partnerships, and scale the team across all departments. “It’s never been more critical to hire the right developer…

The three-year business strategy that 4Sight established in 2020 continues to deliver strong results, with the company reporting a second straight year of double-digit growth in revenue. “The continued commitment from the Board of Directors and the Executive Committee in the execution of our strategy has sustained top-line growth during 2021,” affirms Tertius Zitzke, Group CEO at 4Sight Holdings. 4Sight has achieved a 12.9% year-on-year increase in revenue and 3.6% in gross profit. with basic earnings per share increasing from R1.329 to R1.695 cents per share. A further improvement is a notable increase in debt-to-equity ratio to 36.4% and net…

Liquid Intelligent Technologies, a business of Cassava Technologies, has acquired a fibre pair on the Equiano subsea cable, allowing it to transport traffic up to 12 Terabits, bringing a much-needed increase in international connectivity in Western and Southern Africa. With older sub-sea cables almost at the end of their lifespan, Liquid through the Equiano cable system will address the growing need for Internet capacity supporting cloud services in both coastal and landlocked countries on the continent. The new Equiano subsea cable will link Africa to Europe via the West Coast of Africa when it is ready for service later in…

JSE-listed retailer Mr Price has just launched the period panty – a reuseable, washable panty that does not require the use of tampons and sanitary pads. Mr Price is selling a period panty at R150 and can be used for up to two years and are quite safe to wear. The retailer says the period panty is designed with 4 leak-free and odour-free layers for a more carefree you. How do period panties work? “Period panties absorb fluid and moisture to keep you dry. You don’t need any other sanitary products; no pads, no tampons – just the panty!,” said Mr Price.…

Disney+, the streaming service from The Walt Disney Company, has confirmed launch dates for the 42 countries and 11 new territories set to launch this winter. The streaming service will launch in South Africa on 18 May 2022. South African pricing has also been announced at R119.00 per month, or R1 190.00 for an annual subscription. With exclusive original content and thousands of episodes and movies from Disney, Pixar, Marvel, Star Wars, National Geographic and general entertainment from Star, Disney+ is the streaming home for some of the world’s most beloved stories. Subscribers will have access to Star Wars’ “The…

Huawei’s net profit jumped 76% to $17.8 billion in 2021 despite revenue declines across its business as the company maintained solid operations throughout the past year. However, the company’s revenue was flat at $99.9 billion in 2021. “Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty,” Meng Wanzhou, Huawei’s CFO, said. “Thanks to the enhanced profitability of its major businesses, the company’s cash flow from operating activities dramatically increased in 2021, amounting to CNY59.7 billion. Its liability ratio also dropped to 57.8%,…

Tiger Brands Venture Capital Fund has made its first investment in Herbivore Earthfoods, a Cape Town-based business specialising in the manufacture and sale of plant-based and vegan products. Herbivore Earthfoods supplies major retailers across South Africa and sells directly to consumers through its online platform. The investment in Herbivore Earthfoods is closely aligned to Tiger Brands’ health and nutrition strategy. Together with co-investor, Secha Capital, an early-stage impact private equity firm, the Tiger Brands Venture Capital Fund has become a minority shareholder in the business. Herbivore Earthfoods is co-run by Founders, Chanel Grantham and Davey du Plessis, Operations Head. Tiger Brands’…

Nedbank has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on A2X from 1 April 2022. Nedbank will retain its listing on the Johannesburg Stock Exchange (JSE) and a secondary listing on the Namibian Stock Exchange (NSX). Its issued share capital will be unaffected by its listing on A2X. Nedbank CFO Mike Davis said: “Our listing on A2X complements our existing listings on the JSE and the NSX by giving investors the option to trade on their stock exchange of choice and potentially save costs when trading in Nedbank shares.”…

CareerBox, an African impact sourcing non-profit organisation (NPO), has announced the launch of a satellite branch in Cape Town, as part of efforts to alleviate unemployment among youth and women from disadvantaged communities by training and placing them in sustainable, digitally-enabled jobs in the Global Business Services (GBS) sector. “With President Cyril Ramaphosa calling for a new post-covid economy where the GBS sector will drive growth, there has been a growth interest in Cape Town from international investors, and CareerBox is looking to build on this. CareerBox has built a strong presence and track record of success in Durban, and…

FOMO, an app in South Africa focused on connecting users to restaurant specials closest to them using geo location, launched in late 2020 has grown to 100k users and now entering the activities and events vertical. The growth comes as we see an increase in a more money savvy consumer looking to stretch their eating out budget further by visiting restaurants with specials. On the flip side, restaurant owners and businesses are looking at alternative ways to market their establishments outside of the traditional channels like in store marketing and own websites. Ryan Marx CEO and co-Founder says ”The FOMO…