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Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion - Business - Nairaland

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Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by abila122: 3:46pm On May 19, 2015
Zacheaus Somorin in Toronto with agency report

Apple has bought Chinedu Echeruo’s HopStop.com, The Wall Street Journal’s publication, AllThingsDigital reports. Founded in 2005, HopStop.com makes mobile applications for both iOS and Android that covers over 300 cities and that helps people get directions or find nearby subway stations and bus stops. Terms of the deal have not been disclosed as at the time of this report.

Chinedu Echeruo, formerly an analyst at investment banks and hedge funds, founded HopStop in 2005. Echeruo is now Chairman of the Board for HopStop. HopStop has been compared to Israel’s Waze which was recently acquired by Google for $1 billion. The move is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze.

A serial entrepreneur, Chinedu Echeruo grew up in Eastern Nigeria and attended Kings College, Lagos. He attended Syracuse University and the Harvard Business School in the United States and founded HopStop.com after working for several years in the Mergers & Acquisitions and Leveraged Finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, Financing and Private Equity transactions.

He also worked at AM Investment Partners, a $500 million volatility-driven convertible bond arbitrage hedge fund. He founded and raised nearly $8 million for his two U.S based internet companies: Hopstop.com andTripology.com. Tripology.com was acquired in 2010 by American travel and navigation information company, Rand McNally.

True to form, Echeruo is working on yet another venture but this time, focused on small businesses in Africa. According to him, “there is no reason why every entrepreneur should have to reinvent the wheel every single time in all the countries in Africa. My idea is to essentially have one place where a budding entrepreneur can access a template for starting a business, and then customize it to suit their own situation; essentially, a business-in-a-box.”



http://www.thisdaylive.com/articles/apple-buys-chinedu-echeruo-s-hopstop-com-for-1-billion/209670/

8 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Ezenwammadu(m): 3:48pm On May 19, 2015
l know am some how related to him

11 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Nobody: 3:50pm On May 19, 2015
Oh God May such news as this never depart my household!

11 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Proffdada: 4:00pm On May 19, 2015
He should have auctioned it like true Ibo boy

2 Likes 1 Share

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by socialmediaman: 4:03pm On May 19, 2015
Old news.. Happened since last month

2 Likes 1 Share

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by crownprince102: 4:05pm On May 19, 2015
Ezenwammadu:
l know am some how related to him
Thief..... Yesterday, you don't know him, na today u con dey related to him.

2 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Ezenwammadu(m): 4:06pm On May 19, 2015
crownprince102:

Thief..... Yesterday, you don't know him, na today u con dey related to him.
Sharrap he is my long lost cousin

19 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by lilbazy(m): 4:06pm On May 19, 2015
Chinedu echeruo...Another igbo!!! They are extremely talented! My father used to say back then that igbos are the whitemen of africa. Godbless your hustles,Godbless the federal republic of nigeria.

24 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by dhardline(m): 4:06pm On May 19, 2015
Igbo boys...i hail una o grin.una too much.

14 Likes 2 Shares

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by abila122: 4:06pm On May 19, 2015
ok
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by kindnyce(m): 4:07pm On May 19, 2015
DEAR LORD BLESS MY HUSSLE SO DAT MY GIST WILL MAKE FP cool

5 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by MKO4ever(m): 4:07pm On May 19, 2015
Abeg is he married? Thank God Lala247 is my friend grin

3 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by crownprince102: 4:07pm On May 19, 2015
Ezenwammadu:
Sharrap he is my long lost cousin
grin I hope you find him soon.... Mumu.

2 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Built2last: 4:07pm On May 19, 2015
Below was my comment months back on Igbos and i maintain it. They are way ahead.

visit Igbo land and you wont believe they were ravaged by war. they have met up and surpassed many

Read

Aside the excessive audacity which breeds arrogance and pride with Igbos, This is the part i like about Igbos...Everything is business...let truth be told. Igbos are way ahead in business in Nigeria.

I entered Ladipo market one day and couldnt find one shop owned by a Yoruba man in the two hours i spent there. I think business is genetic for them. can you remember the ''my oga at the top stuff'' while some of us typed on the internet, Aba boys were thinking business. Mbaka spoke against GEJ, few days after, (Mbaka but why T. shirt was all over the market). They seem not interested in white collar jobs like every other tribe. If we have more entrepreneurs, the faster we come out of the corruption in public and civil service.

When i finished NYSC, i was retained in the bank with one Emeka boy..I remember during the interview, one of the panelists said, Emeka, you are supposed to be in Aba or Alaba, what are you doing here? the Igbo jokingly said, its capital am looking for..six years after, the Igbo boy resigned, we never knew he was combining banking with real estate business..on saturdays he was a house searching agent. he told me he sold two houses in Ikoyi and resigned...

Till i left the bank, his salary account was in millions...doing so well in business, the latest he told me last year was that, one of the panelists in that our interview is now his account officer...I just love the business part of them and maybe the way they adore their wives and children. They take family very seriously. Emeka is so wealthy and lavishes his wealth on his wife and 3 boys. Needless to say he inspired me into business and i am doing well too, but not anywhere near Emeka.

Throw them into the Lagoon and see the potentials of that water developed by them. Business is a spirit in them most of us find difficult to appreciate.

57 Likes 9 Shares

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by chesterlee(m): 4:07pm On May 19, 2015
Igbo amaka!!!!

9 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by ZACHIE: 4:08pm On May 19, 2015
Ezenwammadu:
l know am some how related to him

Of course, your sod bumm is related to him.
But, you,re not related to your kinsmen in Indonesia and Malyasia bearing the same names

2 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Daniel058(m): 4:08pm On May 19, 2015
People who schooled in France should stay away from this thread biko ......





...... CHINEDU NWANNE , KEDU??




..... Hehehe..



.. People wey follow am grow up for villa go be like "CHINEDU NWA BE NWOKE MU A, MU N'IYA MELU _AKPAKOLO-KPAKOLO N'AFO ONE GALU - AGA, KA ISI NA ONWETELU GINI ".. While others go dey villa dey renew jazz for am...


.. CHINEDU , CHI GI DUBE GI NWANNE......
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by coolluk(m): 4:08pm On May 19, 2015
dddd
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by lonngmann(m): 4:08pm On May 19, 2015
cool
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by tupacshakur(m): 4:08pm On May 19, 2015
Ezenwammadu:
l know am some how related to him


...just as you might probably be related to Chukwuemeka Ezeugo, also known as Reverend King.

3 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Pavore9: 4:09pm On May 19, 2015
ldeas rule the world!

1 Like

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Nobody: 4:09pm On May 19, 2015
Ok, Apple has bought Chinedu Echeruo’s HopStop.com...a Nigerian.

Meanwhile, Igbo Kwenuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! grin

Let Jonathan go by May 29 sef, the way Nigerians would be selling off everything to outside world well....
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Nobody: 4:09pm On May 19, 2015
he is a Nigerian man because he is in the news for good thing.

Nairaland moderators and their bigotery is a clear example of what the zoo republic think about the biafrans in their midst

5 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by WhoBeThisMan: 4:09pm On May 19, 2015
Damn!! This guy makes Seun look like a learner grin

Seun don't mind me o, just kidding

1 Like

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by lilmax(m): 4:09pm On May 19, 2015
The thing dey run for blood cool
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by onlyson16(m): 4:09pm On May 19, 2015
abila122:




http://www.thisdaylive.com/articles/apple-buys-chinedu-echeruo-s-hopstop-com-for-1-billion/209670/
what is dis one here?
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by smokescreen4: 4:09pm On May 19, 2015
I would love to marry him, how do I get his number?

1 Like

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Ezenwammadu(m): 4:09pm On May 19, 2015
crownprince102:

grin I hope you find him soon.... Mumu.

Nwokem gbari door am chatting with him via skype tongue

lgbo kwenu

3 Likes

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by amanze15(m): 4:09pm On May 19, 2015
Wow am inspired grin
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by coolluk(m): 4:09pm On May 19, 2015
This isn't oil money, its tech money.

and then u still wonder why tech start-ups find it hard to get funding/investors in Nigeria
Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Nobody: 4:10pm On May 19, 2015
He was my brother mentor before before ooooo

1 Like 1 Share

Re: Chinedu Echeruo Sells Hopstop.com To Apple For $1 Billion by Nobody: 4:10pm On May 19, 2015
people can hate on the igbos all they want
but the truth is that they are just ''success hungry''

[...] if nobody talk about you, then you are nobody [...]

5 Likes

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