DadaStephen1:
I received this news with mixed feelings.

On one side, I am happy that a Nigerian Tech Company has done so well to get to this point where it has to be admired and acquired by global tech giants.

It’s a motivation for some of us Nigerian Youths who work assiduously and legitimately to make ends meet, solve problems as well as make the nation proud.

It projects a good image of Nigeria and proper impression for young Nigerians. It shows that we’re not all Hushpuppies and Diezanis.

On the flip side I feel pained.

That was how we lost Jumia and other promising Prospects emanating from Nigeria to these smart westerners.

Why do they have to keep swallowing everything that survives the critical death stage, leaving us with absolutely nothing of our own to be proud of?

Why must Africa continue to consume innovations and inventions of the Wild West?

Why are the governments not buying into these projects and companies to strengthen them to a point where they become global brands from Africa, contributing to the growth and development of the country and continent ?

I’m just pondering about this with a very heavy heart.

How many global brands can we point to and say “this is from Africa”?

It happens everywhere. American tech companies are huge money bags which require huge financial power to resist their bids. ARM was acquired ditto many European tech companies. Even in other industries, American firms hold sway, have money and can do and undo. It's hard to resist their offerings except you have strong financial institutions ready to support, a huge economy (preferably top five), huge consumer market and entrepreneurial scene. The only countries which have been able to resist such are China and Japan. Trust me, if American companies aim at your companies, it's hard to say no.

At the bold, that's low budget Karl Marxism which is not even practiced in China.

wink2015:


Stripe will still put some restriction to guide against fraud.

You know that fraud is our second name.

From politicians to jobless youth on the streets of Nigeria.

However, thanks to stripes and its management for finding it necessary to add Nigeria to their platform or specifically acquiring paystack.

Nigeria is a big market for them considering the number of Nigerians that are involved in ecommerce, e-shopping.

Fraud is your second name? Wow! Congratulations!

CSTRR:

Yes, a billion dollars is peanuts when you consider that YouTube is worth $300b today.

If the cost of maintaining YouTube was great, he could have gotten outside investment without completely losing ownership.
Zukerbag was just a student when he founded Facebook.
He did not sell Facebook because of the cost of maintainace even when bill gates made an offer.
He was smarter than most grown men.

Yes, the previous owner of YouTube IS a millionaire by all standards.
But he could have been a billionaire today without needing to invest in various start ups.

However you see it, it's a fantastic deal for the industry and country. Now, people would be able to build even for the sole aim of cashing out, which is a good thing. Indian entrepreneurs who have a way bigger market and economy cannot resist American offers, it's Nigerian entrepreneurs with a smaller market that should decline offers?

Gerrard59:


However you see it, it's a fantastic deal for the industry and country. Now, people would be able to build even for the sole aim of cashing out, which is a good thing. Indian entrepreneurs who have a way bigger market and economy cannot resist American offers, it's Nigerian entrepreneurs with a smaller market that should decline offers?

Indian IT world is something else. Their president recently invested billions of dollar into the industry. Guys, if you don't know more than browsing & posting on SMs you're a gonna. Tech is the new bae.

CSTRR:
I don't see this as good news.

A future giant has just been snapped Up by a foreign company.

All the profits will now move abroad.

They can always start a new thing with that money. This is Africa my brother there is lot of stuff that yet to be done here compare to US and Europe. If they can build paystack to what it is today, my brother, they can always look into a new challenge with that money. Just look at Elon musk, from PayPal to Tesla to Solar City and SpaceX.

Bagehot:


$200 million dollars please . . .

Meaning what?

thebosstrevor1:


Jumai was never a Nigerian company from the start and was not founded by Nigerians forget the Nigerian front.

German in ownership; african in branding.

$200m is quite a huge sum never knew paystake is worth such amout. It's like it's because of this acquisition that's making me unable to buy bitcoin from my luno wallet for some time now.

plat0:

https://techcrunch.com/2020/10/15/stripe-acquires-nigerias-paystack-for-200m-to-expand-into-the-african-continent/

I knew it that these guys would hit it big. Theirs payment API is one of best in africa. Very smooth and reliable. Awesome job guys.

To think am working on an ecommerce app that integrates stripes for payment processing. Am glad one of ours had joined in. Wow, $200M is some cheese bruh

Bagehot:


German in ownership; african in branding.

The founders are French, the sponsors are German called rocket internet, they are venture capitalists firm.

But it seems presently, they have sold their shares in jumia

plat0:

https://techcrunch.com/2020/10/15/stripe-acquires-nigerias-paystack-for-200m-to-expand-into-the-african-continent/

Good development - the more foreign owned companies in nigeria the better - nigeria needs to adopt £ or $ too.

in the foreign owned companies bosses wont be asking out female coworkers because there are ethics and standards. the companies will be stable and wont collapse after several years.

southniyikaye:
One of my regrets in life, rejecting computer science for biosystems engineering..
Shey now, me self for dey create apps worth millions of dollars

Modified - - - -una go Everly get issue with my personal regrets and decisions..
As I dey regret am now, he give una headache? Na your regret? Na my mistake? abeg let me regret my regret in peace biko

If you attended a Nigerian university, I can tell you for free that you have nothing to regret. Learning computer science in these schools would not give you the knowledge and insight required to build world changing applications. The creator of paystack did not acquire his knowledge from his Nigerian teachers.

southniyikaye:
One of my regrets in life, rejecting computer science for biosystems engineering..
Shey now, me self for dey create apps worth millions of dollars

Modified - - - -una go Everly get issue with my personal regrets and decisions..
As I dey regret am now, he give una headache? Na your regret? Na my mistake? abeg let me regret my regret in peace biko

you don't need to code to make an app.
Just fund the coders

kingmurainah:
Era of oil is completely gone, tech guys are the current and future Billionaires

Tell Ijaw boys who think that oil will last for ever, and those from the other side that believe south cannot see light because of oil

Nightstalker:


Where are those thieves ? To all the cursed animals who boast here about Yahoo take a look at this !!

Iyo cartel you thief you scum bag you criminal , see your life ?!!!

While bastards like you are thinking how to send scam emails your mates working and earning legit
Bloody thief!! See how useless and cursed the lives of Yahoo boys are ?

Useless slawormir see your mates !!! Animal !! See as they are doing things .
They sold their company for $200k and can relax and spend with peace of mind but you will be awake every night sending scam emails to get $50 off your victims you useless good for nothing bastard .. that illiterate iyo cartel who should be selling gala in ibadan comes here to make noise and disturb this forum with his fraudulent activities see your mates!! Useless bastards!!!

It's over $200 million bro. Meanwhile, you really took the damn-nigger guy and his friend to the cleaners.

Congratulations to Babcock University.. These 2 are a product of Computer Science, Babcock University. Impossible is nothing!!!

Luftwaffe:


What is stopping you from creating renewable/green energy that can benefit the world with what you studied? Mr. Excuses. Ojukokoro ontop another man sweat.

Maybe it's not given unto him of the Father.

MintedWords:
Now these innocent looking geniuses would have been tagged "yahoo boys" and possibly killed by our bleeping SARS niggis...

In fact, #EndSARS × 100%

That guy by the left for don die since assuming him dey 9ja. Some people in the north want to make sure south didnt go forward.

showafrica:


That guy by the left for don die since assuming him dey 9ja. Some people in the north want to make sure south didnt go forward.

In my honest assessment, the north is very jealous of the south. See them coming out with their #Endbanditary #Endterrorism after criticizing our #EndSARS. Nonsense!!!

MintedWords:


In my honest assessment, the north is very jealous of the south. See them coming out with their #Endbanditary #Endterrorism after criticizing our #EndSARS. Nonsense!!!

Jealousy no be here... They are so afraid of been left behind.

These ones are not the type that shout, 'Nigeria's disintegration', up and down. They made no excuses, blamed no one, they did thire thing. They saw the opportunity in Nigeria, the great big yawning possibilities that is Nigeria, and took advantage and now look at them.

They shouldn't have cashed in yet though. They should have held on to thire business longer and be more ambitious. Elon Musk is human too.

Thumbs Up to them..it's their decision..but I believe other IT guys have their innovations too that the global World is yet to see and develop

pansophist:
I'm I the only one that think it's not an appropriate deal for paystack? Google wanted to be purchased by yahoo for few million dollars during its growth stage but refused, now it's a trillion dollar company, same as facebook and lots more. Why cash out now when you can rip more and more in the future ?

Damn.

nobody can predict future...what if they went bankrupt and crashed later on

cdm4live:


Every state.

Sounds too good to be true.
How can I contact you?

kingmurainah:
Era of oil is completely gone, tech guys are the current and future Billionaires

The truth.

CSTRR:
There is nothing good about foreign companies swallowing up any bright indigenous company.

The shareholders will smile to the Bank, but that is all.
The country is worse off.

When I read that canal+ acquired Rok studios for $100m, I realised that Nigerians are very short-sighted.

Nigerians would have sold apple or YouTube when they were still struggling.

Create yours and get offered money to sell it and don’t sell it, see your mouth like Nigerians are short-sighted.

Nairaland that was offered money to sell it and refused, see how useless Nairaland is, nairaland that should have been as huge as reddit in Africa and expand through the whole Africa. To place an advert on Nairaland you have to make a bank transfer, what nonsense.

tensazangetsu20:

YouTube was sold to google bros. Besides acquisitions aren't always a bad thing. A lot of companies are acquired by big tech giants daily. It speaks good for Nigerian ecosystems and the talent we have. If this continues, a lot of Nigerian programmers will be able to get remote jobs with companies abroad and also funding for their own ideas which would lead to upward social mobility. Rejoice!!!!

You’ll know when people are pained

CSTRR:

YouTube was sold to google for peanuts and the previous owners regret It till today.

That is typical Nigerian behaviour.

I don't see how not selling off our best tech companies stop Nigerians from getting jobs from abroad.

In fact , if companies like paystack grow to be world Standard, it would do better in marketing Nigerian programming skills.

It’s good saying that in Hindsight, what certainty was there that YouTube would have so much acceptability back then in 2006 when it was acquired, it wasn’t even the first and only video sharing platform. It might have been mismanaged or went under due to lack of funds, being acquired also creates the right ecosystem for a company to thrive.

CSTRR:

Yes, a billion dollars is peanuts when you consider that YouTube is worth $300b today.

If the cost of maintaining YouTube was great, he could have gotten outside investment without completely losing ownership.
Zukerbag was just a student when he founded Facebook.
He did not sell Facebook because of the cost of maintainace even when bill gates made an offer.
He was smarter than most grown men.

Yes, the previous owner of YouTube IS a millionaire by all standards.
But he could have been a billionaire today without needing to invest in various start ups.

Bros I’ll keep tagging you till you stop this useless argument, Elon Musk was among the sellers of PayPal to EBay for $1.5 billion and used the funds to achieve greater investments and Tesla is now more than 9 times worth than EBay that acquired PayPal so dead that talk, those young guys could go on to develop things with the cash in the future that would even surpass Paystack.

alphaNomega:


If you attended a Nigerian university, I can tell you for free that you have nothing to regret. Learning computer science in these schools would not give you the knowledge and insight required to build world changing applications. The creator of paystack did not acquire his knowledge from his Nigerian teachers.

See how you downgrade yourself, they both attended Babcock University from where they created Paystack, the founder of piggy bank schooled in Nigeria. Not achieving anything has nothing to do with schooling in Nigeria or not.