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SpaceX Insider Shares Tender Offer Raises Valuation to Record $210 Billion

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SpaceX- Investors King

SpaceX, the innovative space exploration and satellite company founded by Elon Musk, has announced a new tender offer pricing insider shares at $112 each, significantly boosting its valuation to nearly $210 billion.

The tender offer allows employees and other insiders, including early investors, to sell their shares, creating an opportunity for liquidity within the privately held company.

The decision to price the shares at a higher-than-expected valuation was driven by robust investor demand, according to sources familiar with the matter.

This new valuation sets a record for an American private company, second only to ByteDance Ltd., the Chinese parent company of social media giant TikTok, which holds a valuation of $268 billion.

SpaceX’s latest valuation places it among the ranks of the world’s largest publicly traded companies by market capitalization, underscoring its rapid growth and significant impact on the space industry.

The tender offer’s terms are still being finalized, and the size of the offer may vary based on the level of interest from both sellers and buyers.

Representatives for SpaceX have not yet commented on the specifics of the tender offer or the final valuation.

SpaceX, formally known as Space Exploration Technologies Corp., continues to make headlines with its ambitious projects and technological advancements.

The company has successfully launched numerous missions, including crewed missions to the International Space Station, and has been at the forefront of developing reusable rocket technology.

Also, SpaceX’s Starlink project aims to provide global satellite internet coverage, further expanding its influence and market reach.

The increased valuation reflects investor confidence in SpaceX’s future prospects and its potential to revolutionize both space travel and satellite communications.

As the company continues to push the boundaries of space exploration and technology, its rising valuation underscores its status as a leading force in the industry.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Meta Expands Monetization Options for Nigerian Creators with In-Stream Ads

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Meta has launched in-stream advertisements for creators on its platforms in Nigeria, providing a significant new revenue stream for content creators.

This development allows creators to incorporate advertisements into their new or existing videos, including live content.

Meta’s automated system identifies natural breaks in videos to place ads, or creators can manually choose their ad placements.

In-stream and live ads encompass various formats, including pre-roll ads that play before a video starts, mid-roll ads that break into the video, and image ads that appear below the video.

There are also after-roll ads that play following the video content. Creators must meet certain eligibility requirements, such as having a minimum of 5,000 followers, to utilize in-stream ads.

This feature is a part of Meta’s broader effort to enhance monetization opportunities on its platforms. According to a report by NapoleonCat, Nigeria has over 50 million Facebook users.

With the introduction of in-stream ads, Nigerian content creators can now monetize their content more effectively, having previously been excluded from such monetization unless they operated from eligible countries.

Nick Clegg, Meta’s president of global affairs, announced the feature would go live in June during a visit to Nigeria in March.

“Monetization won’t be limited to just Instagram. Nigerian creators eligible to use our monetization products will be able to also monetize on Facebook as well,” Clegg stated.

Meta confirmed this development in a statement on Monday, saying in-stream ads on Facebook and Facebook ads on reels are the two new monetization features for eligible creators in Nigeria and Ghana.

These features will enable creators to earn money by crafting original videos and cultivating a community.

Moon Baz, Global Partnerships Lead for Africa, the Middle East, and Turkey at Meta, said “Every day, we’re inspired by the incredible African creators who use Facebook to tell their stories, connect with others, and bring people together.

“This expansion will empower eligible creators in the vibrant creative industry across Nigeria and Ghana to earn money while setting the bar high for creativity across the world and making Meta’s family of apps the one-stop-shop for all creators.”

In-stream ads can be played before, during, or after on-demand videos, whether pre-recorded content or a recording of a previous live stream.

Types of in-stream ads include pre-roll ads (which play before a video starts), mid-roll ads (which play during videos), image ads (static image ads that display beneath the content), and post-roll ads (ads which appear at the end of videos).

Meta also introduced ads on Facebook Reels, integrating seamlessly into original Reels and enabling creators to get paid based on the performance of their original reels while entertaining fans.

This move by Meta is set to revolutionize content creation in Nigeria, allowing creators to harness the power of their platforms more effectively for financial gain.

The introduction of these monetization features marks a significant step forward in supporting the creative economy in Nigeria and beyond.

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Toyota Nigeria Announces Rollout of Hybrid Electric Models

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Toyota

Toyota Nigeria Limited (TNL) has unveiled its ambitious plans to introduce three hybrid electric vehicles to the Nigerian market within the next three years.

This initiative is part of TNL’s commitment to support the government’s green deal initiative and promote sustainable transportation.

Speaking at the maiden edition of the Toyota Motor Show, held in Lekki from June 27-29, TNL Managing Director Mr. Kunle Ade-Ojo shared the company’s roadmap for rolling out the hybrid electric models.

The first vehicle to be introduced will be the Toyota Cross hybrid, expected by the end of this year.

Following this, the RAV4 hybrid is set for launch in 2025, with the Land Cruiser Prado hybrid anticipated for late 2025 or early 2026.

“We are excited to announce our lineup of hybrid electric vehicles, which align with our commitment to sustainability and innovation,” said Ade-Ojo. “These models represent our dedication to providing Nigerian consumers with advanced, eco-friendly vehicle options.”

In addition to the hybrid rollout, Ade-Ojo revealed TNL’s plans to support the Federal Government’s campaign for Compressed Natural Gas (CNG)-powered vehicles.

TNL aims to utilize its extensive network of workshops for vehicle conversions to CNG power, enhancing the accessibility and convenience of this green initiative for Nigerian drivers.

The Toyota Motor Show featured a variety of activities, including vehicle displays, product launches, special after-sale packages, test drives, and interactive sessions with TNL executives.

The event provided a platform for Toyota to engage directly with customers, offering insights into their range of vehicles and value-added services.

“Our solo Toyota Motor Show allows us to focus entirely on our customers, understanding their needs, and showcasing the full spectrum of what Toyota can offer,” Ade-Ojo stated.

“We are committed to delivering exceptional after-sale services, ensuring the availability of spare parts, and providing top-notch body and paint services.”

The event also included the unveiling of two new models, the Toyota Belta and the Rumion, further expanding TNL’s diverse product lineup.

Reflecting on the event’s success, Ade-Ojo expressed satisfaction with the turnout and the positive feedback received from attendees.

“It was a wonderful outing. The opportunity for one-on-one interactions with our team was greatly appreciated by our customers,” he said. “The free vehicle diagnostics and the test drive experience were particularly well-received.”

As Toyota Nigeria prepares to launch its hybrid electric vehicles, the company remains committed to driving innovation and sustainability in the Nigerian automotive industry, paving the way for a greener and more efficient future.

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Nigerian Blogger VeryDarkMan Arrested Again by Police

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Martins Vincent Otse, widely known as VeryDarkMan, a popular social media influencer and blogger, was rearrested by the Nigerian police on Sunday.

The arrest, orchestrated under the direction of Commissioner of Police Benneth Igwe, has sparked significant controversy and debate across social media platforms.

According to Otse’s lawyer, Deji Adeyanju, the arrest occurred after Otse exposed an individual allegedly involved in defrauding a Nigerian living abroad.

Adeyanju took to his X account to voice his concerns, stating, “Our client, @thatverydarkman, has just been arrested by the police on the instruction of CP Igwe for exposing someone who allegedly duped a Nigerian abroad. Instead of the police to arrest the person alleged to have duped someone, they arrested VDM on allegation of defamation.”

The influencer’s arrest follows a recent release from police custody. On June 10, 2024, a Federal High Court in Abuja granted Otse bail, which he satisfied, leading to his subsequent release.

This latest arrest marks a continuation of his legal troubles, stemming from his online activities and the content he shares with his followers.

Previously, on May 22, 2024, SaharaReporters revealed that VeryDarkMan had been arraigned on five counts related to cyberstalking.

The police prosecution team requested additional time to respond to the application, a request granted by Justice Mobolaji Olajuwon of the Federal High Court.

During the court proceedings, the police sought to have Otse remanded in prison.

However, his legal team successfully argued for him to remain in police custody, leading to his detainment at the National Cybercrime Centre.

This arrest raises important questions about the balance between freedom of speech and legal boundaries in Nigeria.

Many supporters argue that VeryDarkMan is being unjustly targeted for his efforts to highlight and expose fraudulent activities that affect Nigerians, both at home and abroad.

Critics, however, believe that the manner in which he conducts his exposes can sometimes verge on defamation, warranting legal scrutiny.

The controversy surrounding VeryDarkMan’s arrest highlights broader concerns about the use of legal mechanisms to silence voices of dissent and those who seek to hold others accountable.

As this case continues to unfold, it will be closely watched by both legal experts and the general public, keen to see how it impacts the landscape of social media influence and accountability in Nigeria.

For now, VeryDarkMan remains in police custody, and his legal team is expected to file for another bail application while preparing to defend against the allegations of defamation.

The outcome of this case could set a significant precedent for how digital activism and online speech are treated under Nigerian law.

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