Elumelu’s Heirs Holding To Promote The New Era Of Social Networks

Elumelu’s Heirs Holding To Promote The New Era Of Social Networks

Heirs Holdings, an investment firm owned by Nigerian businessman Tony Elumelu, has revealed its recent investment in Silicon Valley’s upcoming Wonderloop.

The investment is aimed at promoting the development and growth of its custom video-profile platform.

In a statement, the firm stated that the funding will be expended as a loan straight to Wonderloop. Thereby supporting the creation of a prototype to speed up the recognition and functionality of the social network platform.

About Wonderloop

The first of its kind, this application offers a short 10-15 second video-profile as opposed to images and bios.

This makes it possible to view the real you, a new means of connecting with others as opposed to Face Time and Skype.

Founded by Norwegian entrepreneur Hanna Aase, the California based platform will be fully launched in 2015, after which all users will only be granted entrance to the platform via invites.

Angel investments

According to a report by Naira metrics, the total investment remains undisclosed as there are no further details about the actual amount committed.

This is however another of such investments by Heirs Holding in high potential tech start-ups, following a similar involvement with Planet Labs.

“I am excited about Wonderloop’s vision of giving everyone in the world an opportunity to be seen through this dynamic cutting edge video-profile system,” the Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation, Mr. Tony Elumelu said.

He also added that he intends to bring lessons learned from investments in the Silicon Valley tech space to the African entrepreneurs being groomed in the aspects of technology.

Source: Venture Africa

Categories: Business News

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