* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, September 17, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

    From Spinal Tap II to Ed Sheeran : your complete entertainment guide to the week ahead – The Guardian

    Fall’s Hottest Ski Films Are Going on Tour—Here’s the List – yahoo.com

    Experience the Thrill: Fall’s Hottest Ski Films Hit the Road-Don’t Miss the Tour!

    Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

    Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

  • 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
    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Unlocking AI Success: How People, Process, and Technology Form the Ultimate Triangle

    Billion-dollar coffins? New technology could make oceans transparent and Aukus submarines vulnerable – The Guardian

    Billion-Dollar Coffins? How New Technology Could Make Oceans Transparent and Expose Submarines

    What if artificial intelligence is just a “normal” technology? – The Economist

    What if artificial intelligence is just a “normal” technology? – The Economist

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

    From Spinal Tap II to Ed Sheeran : your complete entertainment guide to the week ahead – The Guardian

    Fall’s Hottest Ski Films Are Going on Tour—Here’s the List – yahoo.com

    Experience the Thrill: Fall’s Hottest Ski Films Hit the Road-Don’t Miss the Tour!

    Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

    Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

  • 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
    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Unlocking AI Success: How People, Process, and Technology Form the Ultimate Triangle

    Billion-dollar coffins? New technology could make oceans transparent and Aukus submarines vulnerable – The Guardian

    Billion-Dollar Coffins? How New Technology Could Make Oceans Transparent and Expose Submarines

    What if artificial intelligence is just a “normal” technology? – The Economist

    What if artificial intelligence is just a “normal” technology? – The Economist

    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

In the wake of VIBRA’s shutdown, staff were asked to resign or face termination

October 19, 2023
in Technology
In the wake of VIBRA’s shutdown, staff were asked to resign or face termination
Share on FacebookShare on Twitter

VIBRA, the Africa-focused crypto platform co-founded by Vincent Li—co-founder of web3 accelerator Adaverse—has shut down in all three of its markets, not just Nigeria.

TechCabal has confirmed that the crypto platform founded by Africa Blockchain Labs has shut down in its three markets—Nigeria, Ghana, and Kenya—not just Nigeria, as we previously reported

. Vincent Li, the co-founder of the African Blockchain Lab, which received $6 million in VC funding from investors like Lateral Frontiers and Everest Ventures for VIBRA, told TechCabal that the business is currently undergoing a pivot. But reliable sources, including former employees who resigned from their jobs, have stated otherwise.

“In July, we were given the option to resign or be fired,” a former employee told TechCabal. At the time, the over-10-person team led by Hailey Yang had learned that the company was facing existential difficulties. The same month, the company emailed users that it would discontinue services by July 15. Li told TechCabal that the discontinuation was only for Nigerian users—its largest market—but the messages on the Telegram group named “VIBRA Africa” suggest that the closure was not regional.

The shutdown was effected three weeks after another Asian-owned startup, Pillow, shut down in Africa and months after Lazerpay closed shop too. Web3 startups were reeling from the impact of the persisting bear market and the crash of popular crypto exchange FTX. User engagement on the app, which allowed people to swap, send, receive, save, and spend cryptocurrencies, was waning. The company’s website says that VIBRA had over 100,000 agents in the three markets, but it is unclear how many users the company had at the time. “There were not many users,” an ex-employee said. They declined to state an exact figure or range but confirmed that user activity on the app fell, and consequently, the startup’s revenue from charges made from transactions plummeted.

“The company may have also closed because they could not work out how to get commensurate user turnover from the user education we were doing,” an ex-employee told TechCabal. When Africa Blockchain Lab announced that it had raised $6 million for VIBRA, it said it would “drive the mass adoption of digital assets and blockchain technologies in Africa.” The startup had an education initiative, #VIBRAinClass, where experts could earn money for teaching Africans about blockchain. Tutors could earn up to $400 or $100 per class in four months. Students could also earn up to ₦1,000 in each class. However, it appears the downtime in the crypto sector discouraged new adopters.

Aside from education, incentive-driven customer acquisition typical of blockchain startups proved to be very expensive for the startup. “ Nigerians are very crypto-curious and are willing to try new ways to earn money, but they also have huge expectations of crypto companies,” said a former employee. “Nigerians who see cryptocurrencies as a path to quick wealth creation need to know that you can fly ten people out to Dubai,” the former employee said, referencing the expensive promotion tactics employed by popular exchanges like Binance in Nigeria.

VIBRA’s co-founder Li has declined to comment. 

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/2023/10/18/vibras-staff-told-to-resign-or-face-termination/

Tags: ShutdowntechnologyVIBRA’s
Previous Post

How RexPay is revolutionising payments on the African continent

Next Post

ADATA and XPG announces support for 14th Gen Intel Core processors

Torch Lake faces ecological challenges from invasive Quagga Mussels – WPBN

Torch Lake Fights Back Against the Growing Threat of Invasive Quagga Mussels

September 17, 2025
New Data Science Minor Prepares Students for Data-Driven World – CSUF News

Unlock Your Potential with the Exciting New Data Science Minor Designed for a Data-Driven Future

September 17, 2025
Miami University’s Cleveland Clinic Health Sciences and Wellness facility. – Cleveland Clinic Newsroom

Explore Miami University’s Exciting New Cleveland Clinic Health Sciences and Wellness Center

September 17, 2025
This Is The Most Popular Soup In The U.S. Right Now—And It’s A Fall Classic – yahoo.com

This Fall’s Most Beloved Soup Is Taking the U.S. by Storm

September 17, 2025
City IT presented Best of North Carolina Technology Award – RaleighNC.gov

City IT Honored with Best of North Carolina Technology Award

September 17, 2025

Lillie C. Ainscough – altoonamirror.com

September 17, 2025
World Athletics Championships: Faith Kipyegon storms to historic fourth 1500m title in Tokyo – BBC

Faith Kipyegon Makes History with Stunning Fourth 1500m Title at World Athletics Championships in Tokyo

September 17, 2025
What Jamie Dimon and other bank CEOs are saying about the economy – Quartz

What Jamie Dimon and Leading Bank CEOs Are Unveiling About the Future of the Economy

September 17, 2025
PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

PENN Entertainment Stock Rated a Market Outperformer by Experts

September 16, 2025
While Michigan sees improvements in childhood health, education outcomes raise concerns – Michigan Advance

Michigan Makes Strides in Childhood Health, But Education Outcomes Spark Concern

September 16, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
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 (823)
  • Economy (842)
  • Entertainment (21,721)
  • General (17,081)
  • Health (9,887)
  • Lifestyle (857)
  • News (22,149)
  • People (847)
  • Politics (852)
  • Science (16,054)
  • Sports (21,343)
  • Technology (15,825)
  • World (826)

Recent News

Torch Lake faces ecological challenges from invasive Quagga Mussels – WPBN

Torch Lake Fights Back Against the Growing Threat of Invasive Quagga Mussels

September 17, 2025
New Data Science Minor Prepares Students for Data-Driven World – CSUF News

Unlock Your Potential with the Exciting New Data Science Minor Designed for a Data-Driven Future

September 17, 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