Showing 4 results for:
lightrock
Popular topics
All results
If you tend to spend any time analyzing stock market data , you may have been struck by the sudden surge in Salesforce shares on Tuesday morning. Per reports, the shares saw a more than 12 percent single-day rise as Salesforce’s third-quarter earnings were reported in full. Not only did the corporation, listed as CRM on the New York Stock Exchange , manage to out-earn their Q3 projections in 2024, their recent pivot to artificial intelligence has led analysts to project significant additional growth in quarter 4 and beyond. Expectations for fourth-quarter sales have now been reported at highs of over $10 billion. Though these figures seem massive in scope, some analysts have successfully predicted this rise, as Salesforce has been on a financial uptick throughout all of 2024. To understand why these figures are significant, and what this means for the Salesforce market moving forward, we’ll have to take a brief look at the company’s existing business model, financial structure, and...
Steve Madden shoes have been confidently carrying women for decades, with an estimated 120 locations in America, plus 250 more across 65 other countries. The man behind the brand was born in Far Rockaway, Queens, New York in 1958. Interestingly, Madden’s interest in footwear began as a teenager when he started working at a local shoe store. After high school, the creative went off to the University of Miami, but wound but back in Long Island after his sophomore year. At the time, Madden felt called to spent more time selling footwear and learning about the female consumer’s preferences to perfect his own designs. People associate Steve Madden with the company itself more than the visionary behind the products, but the fashion icon actually has a very interesting story. Outside of starting a family with his former director of operations (and eventual wife from 2005 to 2015), Wendy Ballew, the East Coast native managed to secure a $700K salary during his 31 months in prison, even...
Tosin Eniolorunda and Felix Ike are reportedly behind Africa’s fastest-growing fintech company. According to a press release shared with AFROTECH™, the founders lead Moniepoint, which initially launched under the name TeamApt in 2015. The company has since become a trusted provider of financial solutions, reaching millions of entrepreneurs across Africa and processing over 800 million transactions a month, with those having a monthly total value of more than $17 billion. Moniepoint offers a free personal banking app that allows customers to benefit from a “debit card that always works,” Eniolorunda said in a YouTube video. In addition to banking accounts, the company offers loans, expense cards, instant payouts, and accounting and bookkeeping solutions, its website lists. Photo Credit: Moniepoint Moniepoint’s business model has made it Africa’s fastest-growing fintech in both 2023 and 2024, per the press release. It is now poised for further growth following a $110 million equity...
Metro Africa Xpress Inc. (MAX) plans to improve Africa’s transportation sector after securing $31 million in a Series B funding round. TechCrunch reports, the seed round was co-led by global private equity platform, Lightrock, and international venture capital firm, Global Ventures. Novastar Ventures and Proparco also participated in the round. The mobile tech startup launched in 2015, initially to complete customers’ orders. As the startup developed, it incorporated ride-hail services, vehicle subscriptions, and financing services. Three years after MAX’s inception, vehicle financing became an available service and CFO Guy-Bertrand Njoya revealed the company’s attrition rate is now “close to zero,” the outlet also revealed. “We spent time understanding drivers’ operations and it became apparent to us that most of them don’t own the vehicles they use,” said Njoya, according to TechCrunch. “It became clear that the fundamental issue that drivers face is consistent access to vehicles....