The Billion dollar website by Nigerian Chinedu Echeruo
According to AllThingsDigital, a Wall Street Journal publication, Apple has bought Mr. Chinedu Echeruo’s Hopstop.com for one billion dollars.
The Nigerian founded Hopstop.com in 2005. 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 are yet to be disclosed.
Hopstop website
Background
A serial entrepreneur, Echeruo is said to have grown up in the Eastern part of Nigeria and attended Kings College, Lagos.
After attending Syracuse University and the Harvard Business School in the United States, Echeruo worked for high profile companies like J.P Morgan Chase and AM Investment Partners until he founded Hopstop.com.
He has not only started one company but two, founded and raised nearly $8 million for 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.
Mr. Chinedu Echeruo
- kokofeed.com
What is Chinedu Echeruo doing now?
The man does not stop, 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.”