No, I’m not talking about the magical creature. Unicorn is a term also used to describe a startup company valued at over USD$1 billion and the continent finally has its first.
The Africa Internet Group was founded in 2012 and is now the leading e-commerce group in Africa.
Given the collectivism, it's not surprising that Africa's first unicorn has 71 companies in 26 countries https://t.co/183pNzut6K @Africa_IG
— Benjamin Bathke (@BenjaminBathke) April 9, 2016
AIG made the headlines by becoming the continent’s first unicorn in February: there are just over 150 private startups that enjoy this status across the globe.
Orange invests $85M in Africa Internet Group, Africa’s first billion dollar tech firm https://t.co/7MAtLBVlC4 pic.twitter.com/kADdvDZjMU
— TechCrunch (@TechCrunch) April 5, 2016
Earlier this week, AIG conquered another significant investor with French mobile powerhouse Orange investing $85 million. The interest garnered by AIG is a positive sign for startups. Now the question is: who’s going to be Africa’s next unicorn?
You can follow the Africa Internet Group on Twitter @Africa_IG