Apple Inc. Buys Chinedu Echeruo’s Hopstop.com For $1 Billion

Apple has acquired Chinedu Echeruo’s HopStop.com, The Wall Street Journal’s publication, AllThingsDigital reports. Founded in 2005, HopStop.com 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 have not been disclosed as at the time of this publication.

Chinedu Echeruo, formerly an analyst at investment banks and hedge funds founded HopStop in 2005. Echeruo is now Chairman of the Board for HopStop.

HopStop has oft been compared to Israel’s Waze which was recently acquired by Google for $1 billion. The move is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze.

 READ MORE AFTER THE CUT...............................................

A serial entrepreneur, Chinedu Echeruo grew up in Eastern Nigeria and attended Kings College, Lagos. He attended Syracuse University and the Harvard Business School in the United States and founded HopStop.com after working for several years in the Mergers & Acquisitions and Leveraged Finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, Financing and Private Equity transactions. He also worked at AM Investment Partners, a $500 million volatility-driven convertible bond arbitrage hedge fund.

He founded and raised nearly $8 million for his two U.S based internet companies; Hopstop.com andTripology.com. Tripology.com was acquired in 2010 by American travel and navigation information company, Rand McNally. He was named Black Enterprise Magazine’s Small Business Innovator of the year and listed in the magazine’s Top 40 under 40 and is currently a partner and head of the Principal Investing group at Constant Capital, a West Africa based investment bank.

True to form, Echeruo is working on yet another venture but this time, focused on small businesses in Africa. Check out a video of Chinedu Echeruo below at last year’s TedxIkoyi where he talks about his latest project for small businesses in Africa; “crowd sourced business in a box.”

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 to have one place where a budding entrepreneur can access a template for starting a business, and then customize it to suit their own situation. Essentially a business-in-a-box.”
 

Apple has acquired Chinedu Echeruo’s HopStop.com, The Wall Street Journal’s publication, AllThingsDigital reports. Founded in 2005, HopStop.com 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 have not been disclosed as at the time of this publication. HopStop has oft been compared to Israel’s Waze which was recently acquired by Google for $1 billion. The move is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze. A serial entrepreneur, Chinedu Echeruo grew up in Eastern Nigeria and attended Kings College, Lagos. He attended Syracuse University and the Harvard Business School in the United States and founded HopStop.com after working for several years in the Mergers & Acquisitions and Leveraged Finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, Financing and Private Equity transactions. He also worked at AM Investment Partners, a $500 million volatility-driven convertible bond arbitrage hedge fund. He founded and raised nearly $8 million for his 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. He was named Black Enterprise Magazine’s Small Business Innovator of the year and listed in the magazine’s Top 40 under 40 and is currently a partner and head of the Principal Investing group at Constant Capital, a West Africa based investment bank. True to form, Echeruo is working on yet another venture but this time, focused on small businesses in Africa. Check out a video of Chinedu Echeruo below at last year’s TedxIkoyi where he talks about his latest project for small businesses in Africa; “crowd sourced business in a box.” 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 to have one place where a budding entrepreneur can access a template for starting a business, and then customize it to suit their own situation. Essentially a business-in-a-box.” Now He's The Rock, But When He Was 15 He Looked SO... Even Most Attentive Titanic Viewers Didn't Spot This Everyone Was Shocked To See How His Daughter Looks Like This Is How You Remember Her But Now... Nicki Minaj Shares A Jaw-Dropping Booty Selfie Nicki Minaj Shares A Jaw-Dropping Booty Selfie Amber Rose and Blac Chyna Have a Sexy Twerk-Off Amber Rose and Blac Chyna Have a Sexy Twerk-Off Male Rapper Wants To Have Sex With T.I. Male Rapper Wants To Have Sex With T.I. Birdman Pissed At Wayne For Disrespecting Him Birdman Pissed At Wayne For Disrespecting Him Categories Image Serial Mp3 Songs Africas Single Women Free work at home Videos Templates Aries download music Follow Us Now facebook youtube twitter instagram ”” ”” ”” ”” ”” ”” ”” Recent Posts Chris Brown Is The Father Of A 9 Month Old Baby Video: Dipset – ‘Have My Money’ Kanye West, Drake, Big Sean Count ‘Blessings’ in New Video Categories ANS Exclusives T.I. Bought Vibe Lounge Downtown ATL Young Thug Makes It Rain On Maliah Michel In Diamonds Of Atlanta (Video) Newest Forum Posts Gabourey Sidibe comments on Mo'Nique/Lee Daniela fiasco Evelyn Lozada's child at Laurel Heights Psychiatric Hospital Phat Tuesdays Oliver Jensen Q&A (Vid) Good Got Damn Afternoon....3/1 ANS Archives