News

Meta’s Twitter Rival, Instagram Threads, Launches July 6

If you’ve been considering ditching Twitter, the new competitor might be just what you’ve been waiting for.

Published

1 year ago

July 4, 2023

meta's twitter rival, instagram threads, launches july 6

Meta’s hotly anticipated Twitter competitor, Instagram Threads, is expected to launch on July 6th, after tech sleuths noticed an Apple App Store listing for the new app, as well as an Android equivalent on Google’s Play Store.

As well as the new apps, Meta has now added a launch date ticker to their Instagram app, which can be activated by typing “threads” into the search box (plus several related keywords), causing a ticker icon to appear in the search bar, along with a link to what is expected to be the platform’s homepage The countdown ticker confirms the July 6th launch date, ending at 10 AM ET.

instagram threads mobile screens

The App Store and Google Play Store descriptions of the new Instagram Threads app show screenshots of how users can log in using their Instagram handles and views of an interface similar to Mastodon, Bluesky, and of course, Twitter. Like those platforms, Threads will allow users to follow and connect with their favorite creators and other users who love the same things or share similar opinions.

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Last month, Meta explained that Instagram Threads would integrate with the decentralized social media protocol ActivityPub, with one of the executives noting, somewhat controversially: “We’ve been hearing from creators and public figures who are interested in having a platform that is sanely run,” which sparked a humorous exchange that led to a potential cage match fight between Mark Zuckerberg and Elon Musk.

In response to the news of the launch of Instagram Threads, Elon Musk issued a handful of tweets concerning the amount of user data that Meta’s apps would collect. However, it should be noted that Instagram’s existing app already has access to the same dataset.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.