Cameroonian media startup StarNews Mobile, which offers a network of mobile video channels and allows celebrities and brands to monetize their fan bases in Africa through exclusive videos, has announced that it was selected by Snap Inc. (owner of the Snapchat and Bitmoji applications as well as Spectacles glasses, equipped with a camera) to benefit from the fourth edition of its Yellow Accelerator program, a funding and incubation program launched in May 2018 for entrepreneurs working on the border between content creation and technology. The 2021 edition will be held exclusively online.
“StarNews Mobile was developed with African content creators and fans in mind. Our company is growing exponentially as we continue to make deals with the biggest telecom operators, with artists and entertainment networks in the United States and Africa, ”said Guy Kamgaing, founder and CEO of StarNews Mobile who is delighted to have been selected to join the Yellow Accelerator program of Snap Inc.
The Yellow Accelerator will invest $150,000 (approximately 81.4 million CFA francs) in StarNews Mobile and offer StarNews Mobile a 14-week training program to improve its strategy, growth, fundraising, and develop mentorship. This 14-week program ends on May 07, 2021, with a virtual demonstration day scheduled for April 29, 2021. StarNews Mobile, which will leverage best practices from Snap Inc., is one of nine companies selected to join this program.
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What You Need To Know About StarNews
Founded in 2017 in Cote D’Ivoire, StarNews Mobile is the project of Cameroonian Guy Kamgaing who has over 20 years of experience in the mobile telecom industry.
“I started in January 2016, with $ 250,000 in equity to deploy the platform and carry out the first proof of concept,” said Kamgaing. “At the beginning of 2018, I raised $100,000 as part of a “Friends & Family Round”; and during the summer of 2019, I raised an additional 600,000 dollars from Business Angels based in California.”
The startup which is present in four countries, is a network of mobile video channels that allows celebrities and brands to monetize their fan bases in Africa, the world’s fastest growing mobile market. StarNews Mobile works with popular local and international stars such as Davido (Nigeria — 12.7M followers), Fally Ipupa (Congo — 3M followers) or Sauti Sol (Kenya — 2.2M followers) to create exclusive and addictive short videos that fans are eager to pay for.
The startup also allows creators to earn new income and advertisers to reach their target audiences. The startup claims to have 5 million subscribers already. To date, the company has also around 40 employees spread across Canada, the United States, India, France and Africa.
Available in Ivory Coast, Cameroon, Congo and South Africa, StarNews is working with large pan-African mobile operators such as MTN, Orange and MOOV in order to distribute exclusive and quality video content directly to users.
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