* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, June 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Exclusive: Wasoko and MaxAB to cut overlapping workforce as merger talks advance

January 9, 2024
in Technology
Exclusive: Wasoko and MaxAB to cut overlapping workforce as merger talks advance
Share on FacebookShare on Twitter

Wasoko, the Tiger Global-backed Kenyan e-commerce startup and MaxAB, its Egyptian counterpart, will trim roughly 10% of the combined workforce of both companies, TechCabal has learned.

Both firms are in the early stages of integrating their operations ahead of the completion of a merger, which was announced in December 2023. Both companies employ around 4,000 people in Egypt and East Africa.

Employees were told about the cuts on a Google Meet call with no recording allowed, said one person at the meeting. “The Egyptian team from MaxAB is taking over the product and engineering teams,” the same person said.

Daniel Yu, Wasoko’s CEO, confirmed that affected employees have been notified and offered severance packages “in line with local laws.” Yu and Belal El Merghabel, MaxAB’s CEO, will remain leaders in the new entity.

Wasoko and MaxAB will also allow affected employees to keep their stock options after leaving the company. Employee stock options, which allow employees to own equity shares in their employer company over a certain period, are a common incentive startups use to attract and retain top talent.

Yu said part of the severance package it is offering affected employees will allow them to keep their stock options. Employee stock options are commonly forfeited when employees are fired for cause. When employees terminate for other reasons, companies usually buy back shares.

Over the lifetime of Wasoko, which has raised $143.6 million per Crunchbase data, has allowed employees with vested shares to sell stock three times.

In December, Wasoko and MaxAB announced they were in preliminary negotiations to form a single company in a “merger of equals.” According to an early MaxAB investor, a merger would create a unicorn with a combined gross merchandise value of roughly $50 million. The CEOs of MaxAB and Wasoko declined to comment on the expected valuation of the new firm.

Venture capital investors have poured money into entrepreneurs building tech companies that focused on bringing Africa’s informal wholesale market for consumer goods online.

Got a Tip?
We’d like to hear from you. With a nonwork phone or computer, contact the author of this article at [email protected]. TechCabal protects the confidentiality of its sources.

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2024/01/08/wasoko-and-maxab-to-cut-workforce-merger-talks-advance/

Tags: ExclusivetechnologyWasoko
Previous Post

Bridging the gap: Product and user experience design in Africa’s technological revival

Next Post

Exclusive: Twiga legal chief departs company days after founder’s resignation

House panel wrangles on rail safety technology – FreightWaves

House Panel Sparks Debate Over the Future of Rail Safety Technology

June 26, 2025
The Desert Sun unveils its Top Spring Athletes: History-makers and record-breakers – The Desert Sun

Meet This Spring’s Top Athletes: History-Makers and Record-Breakers Revealed!

June 26, 2025
HUD to move into the National Science Foundation headquarters, no current plan on where to relocate NSF employees – Government Executive

HUD to move into the National Science Foundation headquarters, no current plan on where to relocate NSF employees – Government Executive

June 25, 2025

Protecting the Boundless Future of U.S. Science: Tackling Tomorrow’s Challenges Today

June 25, 2025
LVMH’s Paris Olympics partnership wins Luxury and Lifestyle Grand Prix – Ad Age

LVMH Shines Bright with Luxury and Lifestyle Victory at Paris Olympics Partnership

June 25, 2025
Why the Strait of Hormuz, A Vital Oil Route, Is Vulnerable to Israel-Iran Conflict – The New York Times

Why the Strait of Hormuz, A Vital Oil Route, Is Vulnerable to Israel-Iran Conflict – The New York Times

June 25, 2025
Dying honey bees are threatening California’s economy. Can Central Valley lawmakers save them? – CalMatters

Dying honey bees are threatening California’s economy. Can Central Valley lawmakers save them? – CalMatters

June 25, 2025
Butler launches sports, entertainment institute focused on local events – Inside INdiana Business

Butler Launches Exciting New Sports and Entertainment Institute Spotlighting Local Events

June 25, 2025
Expert panel picked by RFK Jr. will scrutinize the vaccine schedule for kids – NPR

Expert panel picked by RFK Jr. will scrutinize the vaccine schedule for kids – NPR

June 25, 2025
What Is a Democratic Socialist? – The New York Times

What Is a Democratic Socialist? – The New York Times

June 25, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (698)
  • Economy (717)
  • Entertainment (21,612)
  • General (15,566)
  • Health (9,756)
  • Lifestyle (722)
  • News (22,149)
  • People (719)
  • Politics (724)
  • Science (15,935)
  • Sports (21,214)
  • Technology (15,702)
  • World (697)

Recent News

House panel wrangles on rail safety technology – FreightWaves

House Panel Sparks Debate Over the Future of Rail Safety Technology

June 26, 2025
The Desert Sun unveils its Top Spring Athletes: History-makers and record-breakers – The Desert Sun

Meet This Spring’s Top Athletes: History-Makers and Record-Breakers Revealed!

June 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version