News
Google Acquires Twitter’s Mobile App Developer Platform
Google is taking over Fabric, Twitter’s mobile app developer platform, as well as its Crashlytics crash reporting system, Answers mobile app analytics, Digits SMS login system, and FastLane development automation system.
Twitter launched Fabric as a modular SDK in 2014 to allow developers to pick and choose different tools to improve their apps, and it now serves apps reaching 2.5 billion users built by 580,000 developers.
But as Twitter tries to get into better financial shape, it’s cutting non-essential divisions, as it did with its change from Vine to Vine Camera.
According to TechCrunch, by passing the platform off to Google, it can remove the costs of running Fabric without screwing over its developers by suddenly shutting it down.
Google will continue to operate Fabric and its related tools, and developers shouldn’t have to do anything to support the transition.
Twitter tells me it will continue to run and invesit in its other developer-facing products such as its Publisher Platfrom, Twitter Kit, Gnip, TweetDeck, plus its Public APIs and Ads APIs because they are tied directly to its core business and align with its priorities for 2017
The Fabric team announced (Wednesday) “Today we enter the next chapter for Fabric and are pleased to announce that we’ve signed an agreement for Fabric to be acquired by Google and for our team to join Google’s Developer Products Group, working with the Firebase team.” Google’s Firebase product manager Francis Ma writes “Our missions align closely: help developers build better apps and grow their business.”
Terms of the deal weren’t disclosed, and Twitter refused to provide more detail upon request. Digits shall remain under Twitter’s control during the transition period.
Crashlytics will become Firebase’s main crash reporting tool. Founded in 2011, Twitter acquired Crashlytics in 2013 for $38.2 million. After six years, co-founder Jeff Seibert will be stepping back from Crashlytics, which will now be led by Twitter’s VP of engineering Rich Paret.
While Twitter initially charged for enterprise access to tools like Crashlytics and Answers, it later made them free.
The strategy seemed to be that if more developers were part of the Twitter ecosystem, they’d build apps that piggyback on the microblogging service and provide it with extra functionality and platform lock-in.
But that strategy may have proved too indirect for Twitter as it tries to cut losses, which were $103 million in Q3 2016.
Facebook similarly shut down its Parse mobile development platform last year.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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