Apple has bought Mr. Chinedu Echeruo’s Hopstop.com for one billion dollars, The Wall Street Journal’s publication, AllThingsDigital has reported.

Founded in 2005, Hopstop.com makes mobile applications for both iOS and Android that covers over 300 cities and that helps people get directions or find nearby subway stations and bus stops. Terms of the deal have not been disclosed as at the time of this report.
Echeruo, formerly an analyst at the investment banks and hedge funds, founded Hopstop.com in 2005.

Echeruo is now Chairman of the Board for Hopstop, has been compared to Israel’s Waze, which was recently acquired by Google for $1 billion. The move is seen as Apple’s plan to bolster its map offering, especially given Google’s recent acquisition of Waze.
A serial entrepreneur, Echeruo grew up in the Eastern part of Nigeria and attended Kings College, Lagos.

He attended Syracuse University and the Harvard Business School in the United States and founded Hopstop.com after working for several years in the mergers and acquisitions and leveraged finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, financing and private equity transactions.

He also worked at AM Investment Partners, a $500 million volatility-driven convertible bond arbitrage hedge fund. He founded and raised nearly $8 million for his two U.S based internet companies: Hopstop.com and Tripology.com. Tripology.com was acquired in 2010 by American travel and navigation information company, Rand McNally.

True to form, Echeruo is working on yet another venture but this time, focused on small businesses in Africa.
According to him, “There is no reason why every entrepreneur should have to reinvent the wheel every single time in all the countries in Africa.

"My idea is to essentially have one place where a budding entrepreneur can access a template for starting a business, and then customise it to suit their own situation; essentially, a business-in-a-box.”

http://www.thisdaylive.com/articles/apple-buys-chinedu-echeruo-s-hopstop-com-for-1-billion/209739/
http://thestreetjournal.org/2015/05/breaking-news-apple-buys-nigerian-born-chinedu-echeruos-hopstop-com-for-1-billion/

T

Great. Our lost respect is gradually coming back.

Gud

Liars.com

Update: OMG! I thought it was one of those liars seeking for cheap attention untill I opened the link?
But 1billion dollars is way too much na?

WOW!
Glo would say - "See money!"

Excellent news! Thats the spirit, the deal just got concluded few days ago.



Echeruo is an enterprising young man with loads of prospects ahead of him. The sky is his starting point

MeAndYou:
Liars.com

Why are you hating. Are you not a Nigerian??

This is stale news, the deal commenced since 2013 and was sealed since 2 months ago or so and it was posted on nairaland. This thread will likely be closed again if the moderators see it

Chinedu, Floreat!

socialmediaman:
This is stale news, the deal commenced since 2013 and was sealed since 2 months ago or so and it was posted on nairaland. This thread will likely be closed again if the moderators see it

Why will the moderator close it.

Chiaka:


Why are you hating. Are you not a Nigerian??

No mind my earlier comment oooo!

This one na sweet crude!

socialmediaman:
This is stale news, the deal commenced since 2013 and was sealed since 2 months ago or so and it was posted on nairaland. This thread will likely be closed again if the moderators see it

They have been it all the while. But concluded everything few days back.....

Chiaka:


Why will the moderator close it.

Because of this and many others:

https://www.nairaland.com/2324110/chinedu-echeruo-sells-hopstop.com-apple/1#33894452

Congrats to Nigeria guy if the story is true,but I find it hard to believe the story,because with less than $1b they can build their own .

Hmn! seen that moderator closed the previous thread. But why?
Does he not like good things?
Why will a hate thread be left alive and one that should encourage other peoples dream be closed.

Now this is one of the reasons why Nigerian tends to remain stagnant, lots of this type of nonsense happen in the Nigerian society

with the dreams of a lot of people not given chance to glow. Am watching to see if they will close this thread.

Segadem:
Congrats to Nigeria guy if the story is true,but I find it hard to believe the story,because with less than $1b they can build their own .

The story is very true. you can google it yourself...........
The guy tried sha! wish him the very best!!!!!!!