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TikTok Achieves Significant Milestone by Becoming The First Non-Gaming App to Reach $10 Billion in User Spending

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Short-form video platform TikTok has achieved a significant milestone, by becoming the first non-gaming app to reach $10 billion in user spending.

The social media platform is reported to have added more than $4 billion this year to achieve this milestone, with the year still running.

The majority of TikTok’s revenue reportedly comes from the US and China, as both countries have so far generated 30% of the platform’s revenue to date. Other major markets include Saudi Arabia, Germany, the United Kingdom, and Japan, which combined accounted for 13% of the app’s in-app purchase revenue.

TikTok’s recent milestone, underscores the platform’s rapid growth and success, solidifying it as a dominant force to reckon with in the social media landscape.

The short-form video platform began the year 2023 with an impressive $6.2 billion in consumer spending already under its belt. Throughout the year, it added an additional $3.8 billion, marking a substantial 61% growth.

The majority of TikTok’s revenue is reported to come from in-app purchases of coins, a virtual currency that users can use to purchase gifts for content creators on the platform. These gifts can be cashed out as fiat currency, with TikTok retaining 50% of the payout. Reports reveal that consumers are spending over $11 million per day tipping their favorite creators.

The platform also generates revenue outside of in-app purchases, like via advertising and e-commerce with TikTok shop. Following TikTok’s recent milestone, the head of insights at Data.Ai, Lexi Sydow, said that the platform revenue will grow to $15 billion in 2024, as TikTokers are poised to spend 40 hours a week each month in the app by 2024.

Since its launch in 2017, TikTok has become a leading player among short-form video social apps, with over a billion global users. The app quickly became the darling of Gen Z, which saw a lot of them become addicted to it, due to several remarkable features.

Currently, the platform has become a rave amongst other social media platforms as more than 15% of teens admit that they are on TikTok almost constantly.

In 2019, the app’s downloads surpassed that of Instagram, Facebook, Twitter, and Snapchat. By January 2020, users in their teens accounted for 37.2% of TikTok’s active user accounts in the U.S.

One remarkable thing about the app is that anyone can easily become a creator, as users feeds aren’t just limited to their followers, unlike other social media apps.

Notably, the platform is also increasingly being used by brands and celebrities to promote their content and reach new audiences. It has become a hot spot for influencer marketing and user-generated content, both of which are significantly helping small businesses grow their brand awareness effortlessly.

TikTok’s meteoric rise continues to be driven by its innovative and interesting features which have seen it become a hotbed for content creators. The app has shown no sign of slowing down, as it continues to introduce more interesting features to keep users engaged.

Elon Musk SpaceX Value Nears $180 Billion Networth

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SpaceX

Elon Musk’s reusable rocket maker and satellite internet company, SpaceX, has reportedly inched closer to $180 billion net worth, making it the second most-valuable startup in the world.

A Bloomberg News reports that the company intends to sell insider shares at $97 apiece in a tender offer, that could range from $500 million to $750 million.

Recall that in July 2022, the company raised more than $2 billion, including a $250 million round, that saw it valued at $127 billion during an equity round in May.

In January this year, the rocket maker and satellite internet company raised $750 million in a new round of funding that valued it at $137 billion.

Fast forward to August of the same year, Space X had reached an agreement with both new and existing investors to offer up to $750 million in stock from insiders for $81 per share in July, valuing it at approximately $140 billion.

According to sevral reports, SpaceX is said to be generating nearly $2 billion a month in revenue, with almost half a billion coming solely from its internet service, Starlink.

The company has developed a dominant position in the space transportation market, executing over 64% of commercial rocket launches to send satellites, scientific instruments, and other payloads to orbit globally in the first six months of this year. 

Headquartered in Hawthorne, California, SpaceX holds a commanding position in the commercial space launch services market, primarily through its Falcon rockets, with more than 4,000 satellites in its operational constellation.

The company was founded in 2002 by astute entreprenuer Elon Musk, to reduce space transportation costs and colonizing Mars. It conducts missions for private-sector clients, governmental agencies such as NASA, and other entities, solidifying its market dominance.

Also, SpaceX operates Starlink, an internet service powered by an expanding fleet of satellites in low-Earth orbit, serving as a lucrative arm of its operations.

In a further strategic move, discussions revolve around a potential initial public offering (IPO) for Starlink satellite internet service, as early as late 2024. This strategic move aims to capitalize on the robust demand for space-based communication services, indicating SpaceX’s proactive steps in leveraging market opportunities.

This impressive performance has led to rumors that SpaceX may spin-off and IPO Starlink as soon as late 2024. But the company’s CEO, Musk described those reports as “false,” and  said that he doesn’t expect a Starlink public offering until 2027.

Meanwhile, several analysts have predicted that when Space X is finally listed in the IPO, it will be an extremely strong catalyst for everything space-related.

SpaceX has boosted its insider share price to $97 each, for a planned tender offer of $500 to $750 million, Bloomberg reports, citing anonymous sources — bringing the space exploration startup’s value close to $180 billion. Strong investor demand drove an increase from the $95 a shareprice reported just last week. SpaceX is the world’s second-most valuable closely held startup and has what some analysts call a de facto monopoly on the commercial space launch market. Also attractive to investors: Its Starlink satellite initiative, and its multibillion-dollar NASA contract to develop a lunar lander. SpaceX is expected to bring in about $9 billion in revenue this year from the Starlink and rocket launch businesses, and boost sales to about $15 billion next year. (LinkedIn News)

Meanwhile, Musk may be planning to start a university: “Tesla and SpaceX CEO Elon Musk is graduating from electric vehicles and spacecraft and leaning into education. Based on tax filings for his charitable organization, The Foundation, Musk plans to start with a STEM-focused primary and secondary school in Austin before establishing a “university dedicated to education at the highest levels,” reports Bloomberg. The latter will incorporate a standard curriculum with “hands-on … simulations, case studies, fabrication/design projects and labs.” This isn’t the first time Musk has dabbled in education: He set up a school called Ad Astra for kids of SpaceX employees, including his own. The application to the Internal Revenue Service was filed in October 2022 and approved in March, Bloomberg notes.”

More Scholarships Available in Tekedia Institute

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Good People, join me to thank Nnaemeka Anyanwu, MBA, PMP, ACP, who just made a donation to Tekedia Institute General Scholarship Fund. Through his generosity, more young people and innovators will experience our top-rate business education. Thank you Nnaemeka for funding the future, again!

Our non-profit partner, Ideas Worth Billions, will begin the selection process for Nnaemeka Scholars in January, after the Christmas holidays.

Tekedia Institute Insitute offers hundreds of scholarships yearly through the generosity of citizens, companies and governments. We thank them for funding the FUTURE.

Dogecoin (DOGE) and XRP Supporters Explore New Investment Opportunities in Revolutionary Token – Analyzing the Trend

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In recent developments, Dogecoin (DOGE) and XRP (XRP) supporters are now turning their attention to a new investment opportunity presented by VC Spectra (SPCT). With its unique features, this revolutionary token has captured the interest of investors seeking substantial returns.

Let’s explore why these top crypto coins are must-haves for 2024.

>>BUY SPCT TOKENS NOW<<

DOGE Price Prediction: Dogecoin Soars Amid Tesla Rumors

On December 3, 2023, reports surfaced suggesting that Tesla had discreetly made modifications to its website, introducing the option for customers to make payments using Dogecoin (DOGE) for the latest Tesla Cybertruck model. Upon inspecting the website’s code, several new codes related to DOGE integration were discovered.

However, it is important to note that this change has not been officially confirmed, and currently, the option to pay with DOGE is not yet functional. Not surprisingly, the news generated excitement among investors who were looking to buy Dogecoin.

As a result, a positive DOGE price prediction emerged. Between December 3 and 10, the price of Dogecoin (DOGE) increased by 18.39%, rising from $0.087 to $0.103.

Given the speculation surrounding Tesla potentially adding Dogecoin as a payment option, DOGE will continue to rise in the coming months. Based on the current DOGE price prediction the price of Dogecoin could surge to $0.436 next year.

XRP Price Prediction: Ripple’s Workplace Recognition Boosts XRP Value

On December 1, 2023, Ripple was recognized by the Great Place to Work Institute as one of the best workplaces for parents that year. This highlighted Ripple’s commitment to fostering an inclusive and supportive work environment.

The market reacted positively to the news, resulting in XRP increasing in value by 3.33%. Within 24 hours, the XRP crypto price rose from $0.60 to $0.62.

XRP’s upward trend continued over the following days. Between December 1 and 10, the XRP crypto price increased 9.68% to $0.68.

Furthermore, industry experts anticipate a continued growth in the value of XRP, if market conditions keep improving. They predict the XRP crypto price could surge to $1.80 by 2024.

VC Spectra (SPCT): The Game-Changing Token In Crypto

Dogecoin (DOGE) and XRP supporters have been keeping a close eye on the cryptocurrency market, searching for new investment opportunities. One particular token that has caught their attention is VC Spectra, which is being hailed as a revolutionary token with unique features.

VC Spectra (SPCT) sets itself apart from other top altcoins by offering quarterly dividends and buybacks using the profits generated from investments. This attractive proposition has garnered the attention of supporters who are seeking substantial returns on their investments.

Built on the Bitcoin blockchain, the SPCT token associated with VC Spectra is deflationary. This means that the token’s supply decreases over time, creating a scarcity that could potentially drive up its value. Additionally, VC Spectra (SPCT) offers practical utility in decentralized trading and asset management, providing users with tangible benefits beyond speculative investment.

Its presale stages have shown remarkable growth, with the VC Spectra’s SPCT token price surging by 862.5% to date with a price of $0.077, a testament to its potential as one of the best cryptos to invest in now. As the presale continues, analysts forecast that SPCT could reach $0.080, marking a staggering 900% surge from its initial value.

Learn more about VC Spectra (SPCT) and its presale:

Buy Presale: https://invest.vcspectra.io/login

Website: https://vcspectra.io

Telegram: https://t.me/VCSpectra

Twitter: https://twitter.com/spectravcfund

As Abia Looks for a New Aba with the Establishment of “Greater Aba Development Authority (GADA)”

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When you read the history of Nigeria’s independence, you will likely read about men and men. Yes, they attended conferences here and there. But one thing no one would tell you is this: Nigerian women were the first people who got “independence” for Nigeria when Aba women challenged the colonists over direct taxation. Men had largely agreed to pay, but the women said NOT here. 

The women won a mindset battle, and that was a clear validation that the British could be “challenged”. Quickly, the men picked up that signal, and via the early newspapers started writing with boldness, triggering events which culminated with Nigeria’s political independence from the colonists.

Then, Aba was a seat of commerce. Men left with nothing and returned back to villages with wealth. In Abia’s state coat of arms, that “prosperity through enterprise” is talking of the spirit of Aba. Because Aba meant opportunities through entrepreneurial capitalism.

Suddenly Aba began to fade and had lost many decades. I am here to announce that Aba will be back:“Abia State Governor Alex Otti has signed into law the Greater Aba Development Authority (GADA) bill recently passed by the State House of Assembly.” The goal of GADA is to have a laser-focused attention on Aba  as a commercial  and industrial hub. 

Abians, let’s transform the “God’s Own State”. 

GOV OTTI SIGNS FIRST BILL, GREATER ABA DEVELOPMENT AUTHORITY, INTO LAW

Abia State Governor, Dr Alex Otti, OFR, has signed the Greater Aba Development Authority (GADA) Bill, recently passed by the State House of Assembly, into law.

Governor Otti, speaking Monday after assenting to the bill, his first since assuming office May 29, 2023, said the establishment of the Greater Aba Development Authority was to give Aba, the commercial hub of Abia, indeed South East Nigeria, a special focus in terms of development.

“Everyone who had followed the process of the campaigns and elections would have remembered that we had said that we needed a special focus on Aba which is a commercial nerve centre of the State,” Governor Otti said in a tone filled with reassurance.

According to the Governor, Aba, beyond being a trading zone, is also an industrial base, where all kinds of light and heavy manufacturing; micro small and medium scale businesses are conducted.

“Virtually every street in Aba is a market, eventhough we are working at organising them, but it is a strength that we recognise,” he said, adding, “when we invest heavily in infrastructural renewal in Aba, it is because we recognise the potentials that Aba has and we believe that if we improve on ease of doing business, we attract a lot of businesses.”

He congratulated the Speaker of the State House of Assembly, Rt Hon Emmanuel Emeruwa; Deputy Speaker, Hon Austin Okezie Meregini; the leadership of the House and other members; and Members of the State Executive Council on the passage of the executive bill.

He stated that with the law now in place, Aba rejuvenation has got a legal backing to bring about the needed development in the commercial capital.

Earlier, while presenting the Bill to the Governor for assent, the Attorney General and Commissioner for Justice, Barr. Ikechukwu Uwanna, noted that the executive bill was passed into law by the State House of Assembly on 8th December, 2023.

Uwanna said that the Greater Aba Development Authority is now the first bill Governor Otti was signing into law and congratulated the Governor on achieving that feat.

Giving insight on the newly signed law, the Director General of the Greater Aba Development Authority, Mr. Uche Ukeje, described the law as a special vehicle that would drive the development of Aba to realise the Governor’s vision about the Enyimba City.

Ukeje, an architect of many years repute, described GADA as an integrator, that would coordinate all the efforts of the Ministries, Departments and Agencies of government in a bid to bring the needed development in Aba.

The Secretary to the State Government (SSG), Prof. Kenneth Kalu; Commissioner for Digital Economy and SME, Dr. Matthew Ekwuribe; Commissioner for Power and Public Utilities, Engr Ikechukwu Monday; and Senior Special Assistant on Legislative Matters, Hon. Luke Ukara Onyeani, among other senior aides of the Governor witnessed the bill signing ceremony.

KAZIE UKO
Chief Press Secretary to the Governor
Abia State
December 11, 2023