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Meet 42-year-old Richest US-based Nigerian Who Owns $3bn Rech Company

Published

2 years ago

February 1, 2024

Editor

Forbes has named a 42-year-old man, Tope Awotona, as the richest immigrant and Nigerian-American residing in the United States.

Awotona is the founder and Chief Executive Officer of Calendly, a scheduling software company, worth $3 billion.

He was born in Lagos but migrated to the US in his teenage years, and previously worked as a salesman for tech firms like EMC (now Dell EMC).

Forbes disclosed that Awotona started Calendly in response to his frustration with the time-consuming back-and-forth emails needed for meeting scheduling.

Having self-funded Calendly for an extended period, Tope Awotona secured a substantial $350 million investment in 2021, propelling the company’s valuation to $3 billion.

Before the creation of Calendly, Awotona ventured into other businesses, such as a projector-selling venture and a garden tools enterprise, both of which did not succeed. The majority of his wealth, however, comes from the software he created.

He graduated with a Bachelor of Business Administration from the University of Georgia, Awotona resides in Atlanta, Georgia, with his family.

Calendly, the software company he founded, specialises in a business communication platform designed for teams to efficiently schedule, prepare, and follow up on external meetings.

Awotona started Calendly, after investing all his life savings of $200,000 into it and later quitting his job selling software for EMC.

As part of the success of his initiatives, the company has 10 million users and counts Lyft, Ancestry.com, Indiana University and La-Z-Boy among its customers.

The American business magazine said Awotona’s revenue last year passed $100 million, double what it booked the previous year.

It further said that the company, which was founded in Atlanta but no longer has any physical offices, has been profitable since 2016.

Last year it raised $350 million in funding from OpenView Venture Partners and Iconiq Capital at a price that values the business at $3 billion.

That means Awotona’s majority stake is worth at least $1.4 billion, after the 10% discount that Forbes applies to shares of all private companies.

Awotona is one of just two Black tech billionaires in the United States, along with David Steward, the 70-year-old founder of Missouri-based IT provider World Wide Technology.

Attesting to his success, David Cummings, founder of Atlanta Ventures, which led a $550,000 seed investment in Calendly seven years ago, said, “Tope could be the most successful African-American tech entrepreneur of his generation.”

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Antitrust Trial: US Asks Court To Break Up Google’s Ad Business

Published

1 day ago

September 22, 2025

Editor

Google faces a fresh federal court test on Monday as US government lawyers ask a judge to order the breakup of the search engine giant’s ad technology business.

The lawsuit is Google’s second such test this year, following a similar government demand to split up its empire that was shot down by a judge earlier this month.

Monday’s case focuses specifically on Google’s ad tech “stack” — the tools that website publishers use to sell ads and that advertisers use to buy them.

In a landmark decision earlier this year, Federal Judge Leonie Brinkema agreed with the US Department of Justice (DOJ) that Google maintained an illegal grip on this market.

Monday’s trial is set to determine what penalties and changes Google must implement to undo its monopoly.

According to filings, the US government will argue that Google should spin off its ad publisher and exchange operations. The DOJ will also ask that after the divestitures are complete, Google be banned from operating an ad exchange for 10 years.

Google will argue that the divestiture demands go far beyond the court’s findings, are technically unfeasible, and would be harmful to the market and smaller businesses.

“We’ve said from the start that DOJ’s case misunderstands how digital advertising works and ignores how the landscape has dramatically evolved, with increasing competition and new entrants,” said Lee-Anne Mulholland, Google’s Vice President of Regulatory Affairs.

In a similar case in Europe, the European Commission, the EU’s antitrust enforcer, earlier this month fined Google 2.95 billion euros ($3.47 billion) over its control of the ad tech market.

Brussels ordered behavioral changes, drawing criticism that it was going easy on Google as it had previously indicated that a divestiture may be necessary.

This remedy phase of the US trial follows a first trial that found Google operated an illegal monopoly. It is expected to last about a week, with the court set to meet again for closing arguments a few weeks later.

The trial begins in the same month that a separate judge rejected a government demand that Google divest its Chrome browser, in an opinion that was largely seen as a victory for the tech giant.

That was part of a different case, also brought by the US Department of Justice, in which the tech giant was found responsible for operating an illegal monopoly, this time in the online search space.

Instead of a major breakup of its business, Google was required to share data with rivals as part of its remedies.

The US government had pushed for Chrome’s divestment, arguing the browser serves as a crucial gateway to the internet that brings in a third of all Google web searches.

Shares in Google-parent Alphabet have skyrocketed by more than 20 percent since that decision.

Judge Brinkema has said in pre-trial hearings that she will closely examine the outcome of the search trial when assessing her path forward in her own case.

These cases are part of a broader bipartisan government campaign against the world’s largest technology companies. The US currently has five pending antitrust cases against such companies.

AFP

Headline

Google Faces Court Battle Over Breakup Of Ad Tech Business

Published

1 day ago

September 22, 2025

Editor

Google faces a fresh federal court test on Monday as US government lawyers ask a judge to order the breakup of the search engine giant’s ad technology business.

The lawsuit is Google’s second such test this year after the California-based tech juggernaut saw a similar government demand to split up its empire shot down by a judge earlier this month.

Monday’s case focuses specifically on Google’s ad tech “stack” — the tools that website publishers use to sell ads and that advertisers use to buy them.

In a landmark decision earlier this year, Federal Judge Leonie Brinkema agreed with the US Department of Justice (DOJ) that Google maintained an illegal grip on this market.
Monday’s trial is set to determine what penalties and changes Google must implement to undo its monopoly.

Google will argue that the divestiture demands go far beyond the court’s findings, are technically unfeasible, and would be harmful to the market and smaller businesses.

In a similar case in Europe, the European Commission, the EU’s antitrust enforcer, earlier this month fined Google 2.95 billion euros ($3.47 billion) over its control of the ad tech market.
Brussels ordered behavioral changes, drawing criticism that it was going easy on Google as it had previously indicated that a divestiture may be necessary.

The trial begins in the same month that a separate judge rejected a government demand that Google divest its Chrome browser, in an opinion that was largely seen as a victory for the tech giant.

That was part of a different case, also brought by the US Department of Justice, in which the tech giant was found responsible for operating an illegal monopoly, this time in the online search space.
Instead of a major breakup of its business, Google was required to share data with rivals as part of its remedies.

The US government had pushed for Chrome’s divestment, arguing the browser serves as a crucial gateway to the internet that brings in a third of all Google web searches.
Shares in Google-parent Alphabet have skyrocketed by more than 20 percent since that decision.

Judge Brinkema has said in pre-trial hearings that she will closely examine the outcome of the search trial when assessing her path forward in her own case.

These cases are part of a broader bipartisan government campaign against the world’s largest technology companies. The US currently has five pending antitrust cases against such companies.

Headline

Peru Anti-government Protesters Clash With Police

Published

2 days ago

September 21, 2025

Editor

Hundreds of anti-government protesters clashed with police in the Peruvian capital Lima on Saturday, throwing stones and sticks as officers fired tear gas on the demonstrators, AFP journalists reported.

The protest, organized by a youth collective called “Generation Z”, is part of growing social unrest in Peru against organized crime, corruption in public office, and a recent pension reform.

“Today, there is less democracy than before. It’s getting worse… because of fear, because of extortion,” said 54-year-old protester Gladys, who declined to give her last name.

Around 500 people gathered in the city center, under heavy police presence.

“Congress has no credibility, it doesn’t even have the approval of the people… It is wreaking havoc in this country,” said protester Celene Amasifuen.

The clashes broke out as demonstrators tried to approach executive and congressional buildings in Lima.

The radio station Exitosa said that its reporter and a cameraman were hit by pellets, commonly fired by law enforcement.

Police said at least three officers were wounded.

Approval ratings for President Dina Boluarte, whose term ends next year, have plummeted amid rising extortion and organized crime cases.

Several opinion polls show the government and conservative-majority Congress are seen by many as corrupt institutions.

This week, the legislature passed a law requiring young adults to join a private pension fund, despite many facing a precarious working environment.