Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa.
Top Story: Who is Domain King? The Man Who Makes Millions from Flipping Packed Domains
Rick Schwartz, better known in the digital world as “The Domain King,” began his journey into domaining in the mid-1990s. A community college dropout with a past bankruptcy, Schwartz initially worked in sales, selling Asian-made products at trade shows.
The pivotal moment in his life came when he discovered the File Transfer Protocol and realized the internet could transform traditional sales. By putting brochures and sales materials online, he stumbled upon the lucrative potential of domain names.
His first purchase in 1995, LipService, cost him just $100, but according to him, this deal marked the start of a remarkable empire.
“In 1995, I began investing in High Profile, High Traffic, Brandable, and Generic Domain Names for advertising, development and joint ventures and laid out a 20 year plan as I believed it would take that long for full understanding, full awareness and full value,” Schwartz says reflecting on his early strategy.
Other Tech News Stories You Should Read:
From Delta to Digital Fields: O’Tega Teminor’s Mission to Rewire Africa’s Agriculture. Read now.
Step-by-Step Guide to Recovering Deleted Files from a Laptop or Phone. Read now.
How to Fix Apps That Keep Crashing on a Phone: A Comprehensive Guide. Read now.
On Startup Spotlight:
How iKhokha’s $93M Nedbank Acquisition Redefines Startup Independence in Africa
Durban-based payments startup, iKhokha, says it will continue to operate under its own brand after being acquired by Nedbank for R1.65 billion ($93 million).
Matthew Putman, iKhokha’s co-founder, disclosed that the deal was about growth rather than integration into a traditional bank.
“The business will continue to run as per normal,” he said. “We will keep our brand, our staff, and our independence. For our merchants, nothing changes, except that now we have a big brother and new opportunities to expand what we offer.”
According to him, the 13-year-old fintech, which provides card readers and mobile payment tools to informal traders and small businesses, will become a wholly owned subsidiary of Nedbank once regulatory approvals are completed.
Quadri Adejumo brings you all the details. Read here.
Also Read:
South Africa’s Startup, Eden AI Launches AI Mental Health Companion for Stigmatised Women. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow.
Best, Quadri
