Foodpanda, Pakistan’s biggest delivery app, has teamed with Extreme Commerce to increase vendor acquisition, where consumers may learn how to become a successful HomeChef with foodpanda, enhancing e-commerce possibilities.

To kick off this relationship, a signing ceremony was held at the foodpanda headquarters in Karachi. The event was attended by Ahsan Malik, Head of HomeChefs, foodpanda; Binte Fatima, Team Lead Restaurant Operations; and Kashif Jaffri, CGO, Extreme Commerce, as well as other dignitaries.

Through this relationship with Extreme Commerce, foodpanda hopes to enhance the HomeChef ecosystem in Pakistan. Ahsan Malik elaborated on the relationship, stating that it is in keeping with foodpanda’s objective of equipping individuals with the necessary skills and assisting them in developing their professional ability.

“Our goal is to make Pakistan the global eCommerce hub by employing Extreme Commerce through both physical incubators and digital platforms to acquire new vendors and disseminate awareness through webinars and open houses,” he said.

“We’ll also be developing video content for their Video Boot Camp (VBC) platform to help grow and empower the HomeChefs ecosystem in Pakistan, as well as enable food entrepreneurship,” Ahsan added.
“We are looking forward to collaborating with foodpanda to economically empower people and achieve financial and digital inclusion for bright individuals in the country,” Kashif Jaffri, CGO, Extreme Commerce, stated during the event.

“Through our platforms, we will raise awareness and spotlight this initiative, as well as produce economic prospects for the masses,” he continued. I believe that by working together, we can make a major difference in the communities where we operate.”

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Prosus NV (“Prosus”), a global Internet consumer group and one of the world’s largest technology investors,  announced that it has signed a definitive agreement to acquire Stack Overflow, a leading knowledge-sharing platform for the global community.

As one of the 50 most popular websites in the world, it has established a global company and a highly engaged community of developers and technicians in the past 13 years or more and now serves more than 100 million people, all over the world every month.

Founded in 2008, the company is a community-based open question and answer site for the developer community. It has now been expanded to include Stack Overflow for Teams, a leading collaboration and knowledge management solution developed by thousands of companies around the world trust.

Stack Overflow for Teams and its extensive community content has become a necessity for the company, which has had a significant impact on the development of its products and technology.

Stack Overflow is deeply involved in its community and is a valuable tool for technology-centric collaboration and learning. More than 85% of learning-centric communities visit the platform every week, accessing more than 52 million questions and answers.

There is a new question every 14 seconds on Stack Overflow. Since the platform was established, developers and technicians who have accessed the platform have received more than 50 billion help.

With its experience in expanding communities in global high-growth markets, Prosus can help accelerate Stack Overflow’s ambitious growth, with a special focus on reaching a wider international community, while further expanding the company’s Teams products to position Stack Overflow as the center of the world’s leading company Product and technology development.

Prosus will cover 90% of the Fortune 100 of all its corporate learning companies, including Stack Overflow, Skillsoft, Udemy, and Codecademy.

 Larry Illg, CEO of Prosus EdTech, said:

“We are very happy to welcome Stack Overflow to the Prosus family while paying more and more attention to the future of workplace learning. Any type of learning usually starts with a problem. When in doubt at work, your platform is very important to them.”

The opportunity to connect with your community more deeply through our other educational platforms to further meet your learning needs. With the continuous skill shortage and changing needs in the organization, technical training has become the largest and fastest-growing part of business learning and development.

As a business operator in more than 90 countries/regions, we understand the needs of technicians and developers, especially in high-growth markets. In addition to further expanding their communities in the markets we are familiar with, we also hope to help the Stack Overflow team expand within the company to solve an overlooked opportunity and turn their learning and collaboration into Technology.

 Stack Overflow CEO Prashanth Chandrasekar said:

“We are very happy to join the Prosus family, which brings us into a new phase of growth and allows us to expand and accelerate Stack Overflow’s global impact. Prosus’s expertise, continuous development, and nurturing of the community, especially on a global scale, will make our public platform more valuable in helping developers and technicians learn and grow. “

Given that Prosus is focused on the future of the workplace, their partnership will enable our market-leading SaaS collaboration product Stack Overflow for Teams to reach more global companies, enabling them to accelerate product innovation and increase productivity. Through the release of institutional knowledge”.

It is expected to be closed in the third quarter of 2021 and subject to regulatory approval and customary closing conditions.

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LUMS Center for Entrepreneurship scouting season is here and they have started accepting applications for the Batch 6, expected to start in the third week of September.  More details about the program are below.

About “The Foundation”

The Foundation is a business incubation and acceleration program offered at the LUMS Center for Entrepreneurship. This 4 month program is for the most promising startups from all across Pakistan and scrutinized by the Foundation Council. There are only the best startups led by passionate founders pursuing a sustainable, high-growth or high-impact venture make it to the program.

Program Details

The Foundation takes away most administrative hassles so that founders can focus on developing their ventures. Mutually agreed upon milestones are used to gauge startup development throughout the 4-month incubation/acceleration cycle and successful ventures are showcased at an investor conference upon graduation. The Foundation also offers a non-resident acceleration program for founders of existing, young companies to avail its mentoring and investment networking platform.

The Foundation hosts 3 batches of startups in a year and offers the following benefits:

• Up to 4 months of access to co-working office facility at LUMS
• 24×7 utilities including power, internet and phone
• Shared access to IT and administrative infrastructure & resources
• State of the art video conferencing system
• Access to LUMS labs, library, gym & other common access facilities
• Access to the world-class faculty at LUMS
• Continuous support from the world-class management of LCE
• Marketing and PR support from LCE
• Regular mentoring and advice from seasoned leaders
• Access to investors at the Startup Summit
• Sustenance stipend for up to 4 co-founders

Even though the startup founders do not have to pay for any of these services from out of their pockets, they will need to part with equity/shares in the company. The equity ranges from 2.5% to 7.5% depending on the services availed.

2.5% equity required for startups that want to be part of the non-resident accelerator program. This program is good for those who only want access to LCE’s mentoring sessions, talks, limited marketing/PR support and the rights to pitch their idea at the Startup Summit.

5.0% equity required for startups who wish to avail everything except the cash stipend. They can be part of the resident incubation program with all services and LUMS facilities.

7.5% equity for required startups who want everything that “The Foundation” has to offer in order to reach their maximum potential.

Deadline for Applications

The deadline for submission of applications is 20th August 2016.

For any additional queries, you can reach them out at lce@lums.edu.pk.

You can find more information for the “The Foundation” incubator and accelerator program here.

Apply Here

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