Profit Tech Journo📱

Our in-house analyst simplifies the world of tech, startups & VC funding. Tweeting from the HQ of @Profitpk. Account usually managed by @taimoorhassann

[Profit @Profitpk]

Investment to support Krave Mart’s expansion in Pakistan and potentially venture into other markets

Read: https://t.co/Q7SrwX50WS

[Profit Tech Journo📱 @ProfitTech]

Google Wallet set to launch in Pakistan on March 12 https://t.co/5pbCwq3O5u via @Profitpk

[Profit Tech Journo📱 @ProfitTech]

KalPay raises over a million dollars.

Read on in this piece by @nisma_riaz

https://t.co/aBYft6ODqJ

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Layoffs and board resignations as OPay-Finja clash enters next round. Meanwhile OPay’s intl investors are fast losing faith in Pakistan’s potential.
Read our exclusive to understand what exactly is the dispute and what else is happening behind the scenes?
https://t.co/EFC7y2oAEq

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Read more about the deal in this piece by @taimoorhassann and @nisma_riaz
https://t.co/FrQOH96dpm

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In a big development, Turkish fintech giant Papara is all set to acquire 100% of SadaPay in a deal that would possibly value SadaPay at $50mn. This deal is going to come with an immediate $10mn FDI into Pakistan in SadaPay [THREAD]

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The startup shuts down nascent pharma and mobile verticals and lays of about 600 people as it eyes profitability

https://t.co/YAwfy3jTY0

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Read more on what each of these companies wanted to do in the superapps space and how are they thinking about it now, in this piece by @taimoorhassann at https://t.co/OdCBloBzss

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Tech Titans the world over look at WeChat and see the promised land. And why would they not? Launched in 2011 in China as a messaging service, WeChat took seven years to become the world's largest standalone mobile app by 2018 with over 1 billion monthly active users.

[Profit @Profitpk]

Calling all current and aspiring English language journalists, who are looking for a rewarding career in journalism.

On the back of a solid business model, with growing subscription and non-subscription revenue, we at Profit, are looking to substantially expand our team of journalists. Ideally, we would like journalists with experience of covering business and economy but those with other, general experience are also encouraged to apply.

Successful candidates will undergo a comprehensive, company-paid training program to acquaint them with basic business and economic issues.

Candidates should have an eye for news, a curious mind and an attitude to learn new skills.

To the right candidate, we believe in paying salaries that are comparable to the corporate sector. So if you are one of those who, albeit reluctantly, is thinking of quitting journalism for a PR gig, this is for you!

And that's not all. We are also inviting recent graduates wanting to embark on a career in journalism to apply.

We offer a variety of roles, across reporting, editing, research, graphic design, video production, social media management at our Lahore, Karachi, and Islamabad offices.

Interested? Send your application to:

[email protected]

[Profit @Profitpk]

After the departure of Bjarke Mikkelsen from Pakistan's e-Commerce giant Daraz as CEO, layoffs, including in higher management, are anticipated in hundreds as the company aims to trim costs. 1/10

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Pakistan’s startups going through a massive wave of layoffs & closures &this time its brutal. Prominent startup Cheetay is shutting operations completely, Dastgyr has laid off 500-600 people, fintech YAP has fired almost all staff leaving fate of EMI license in balance [THREAD]

[Profit Tech Journo📱 @ProfitTech]

The Pakistan Startup Fund aims to bring in FDI for the country. But is Pakistan really investable? This @AtlanticCouncil panel discussion from two months ago has the answers.

Great conversation by @UzairYounus @kalsoom82 Abbas Shahid & Amjad Ahmad

https://t.co/OneMsBHPs6

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What is better than VC money? The answer is free money. And free money is what the current caretakers believe will help promote Pakistan’s startups. On Tuesday, caretaker IT minister Umar Saif launched govt’s first ever Rs2 bn Pakistan Startup Fund 🧵

[Profit Tech Journo📱 @ProfitTech]

According to details, however, Payoneer is only entering into a partnership with PayPal to allow PayPal as a payment method for Payoneer users

Read more in this article by @taimoorhassann

https://t.co/SebLgUN4p5

[Profit Tech Journo📱 @ProfitTech]

Contrary to Pakistan’s caretaker IT Minister Umar Saif’s claim, @PayPal is not going to start operations in Pakistan, directly or indirectly. On Friday, the minister stated that PayPal would operate indirectly in Pakistan through a partnership with @Payoneer [THREAD]

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Ladies and gentlemen, Pakistan’s biggest oil marketing and distribution company, the Pakistan State Oil (PSO), is also a fintech company that is gunning to secure an EMI license, and it is also a Rs1.7 bn venture capital fund.

[Profit @Profitpk]

3/But what are these benefits and who is better off with this deal? Why did Telenor leave Pakistan and why did PTCL, a company already struggling with its existing telecom portfolio, buy it. Find out in Profit’s latest report by @AhtasamAhmad and @shahnawaz_ali1

[Profit Tech Journo📱 @ProfitTech]

Great work by @adamdawood. Anyone who wants to understand and improve payments in eCommerce should read this article.

https://t.co/xk9Apx1HmI

[Profit Tech Journo📱 @ProfitTech]

@umarsaif Good to see that. Would love to see headline CEOs of SAP, SalesForce coming to meet IT Minister in Pak, Hope that happens soon