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Kenyan-based startup Wowzi — created to transform social media users into brand influencers — has secured $3.2 million in its latest seed round. TechCrunch reports the round was led by Africa-focused venture capital firm 4DX Ventures. Participating investors were To.org, Golden Palm Investments, LoftyInc Capital, Afropreneur Angels, and Future Africa. Andela co-founder Christina Sass, and former Andela executives Jessica Chervin, Justin Ziegler, as well as Johnny Falla, who is currently the chief development and growth officer at Wowzi, also participated. The new funds will spearhead operations in Ghana, Nigeria, and South Africa to fulfill the company’s goal to expand beyond their current scope of Kenya, Uganda, and Tanzania. “We are primarily focused on expanding across Africa in 2022 and in other emerging markets globally,” Wowzi co-founder and CEO Brian Mogeni said, according to TechCrunch. “We are also adding new product capabilities and features, as we continue to develop our...
BodyArmor, a sports drink company that received an initial investment from the late Kobe Bryant, will be acquired for $5.6 billion by the Coca-Cola company. According to CNBC, the acquisition will be the largest of its kind by the soft drink company, which will have full control of the brand. The Coca-Cola Company is looking to position BodyArmor as the direct competition to Gatorade, which is owned by Pepsico. Gatorade currently has about 70 percent of the market share in sports drinks, which gives its parent company nearly full dominance over the market. What makes this full acquisition so notable is that Coca-Cola was once the sports drink’s second-largest shareholder. They bought into the company back in 2018 in a deal that gave them 15 percent ownership in the company. At the time, too, the late Kobe Bryant was the third-largest shareholder in the company, as well — and his investment was made just two years after the company was launched. According to the outlet, Kobe Bryant’s...
Coca-Cola may be eyeing the marijuana industry, specifically drinks infused with CBD — the non-psychoactive ingredient in cannabis. The company is currently in talks with Aurora Cannabis, a Canadian marijuana producer, to develop the drinks, according to BNN Bloomberg TV . Aurora’s CEO Terry Booth said the company has spoken to at least three other beverage companies about making cannabis-infused drinks. Aurora’s stock jumped up to 23 percent on Monday, leveling off at $8. Other drink companies are also looking into investing in cannabis drinks. Constellation Brands Inc., the maker of Corona beers, announced that it is investing an additional $3.8 billion into Canadian cannabis producer Canopy Growth Corp, according to CNBC. Marijuana is still illegal on a federal level. According to the Pew Research Center, nearly 60 percent of Americans support the legalization of marijuana, but black Americans are more likely to feel its consequences. The American Civil Liberties Union said that...