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.
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.”
Edwin Ikechukwu
nice
Gordy Blay
Man I love that.. Another smart Igbo man..inspirational,!,,,,,
Augustus Browning
Great and Wonderful Right on . Thank On&On .an be aware and on guard . More power to Africa Rise Right on . Land Space food and people . All your birth right Stand strong to Stornger
Kizito Ek Ef
Awesome guy, i look forward to meet him one day. Great guy
Oduor E. Oriko
I’m heading here I know i will. This is encouraging.
Grant Kona
I am inspired. This is such a great
ThankGod Owobe
This is the kind of news we want to hear. we need good dreamers like Chinedu in every level of our society. Or leaders should be merciful to sponsor and support students in this new innovation. God Bless you my Brother move on and help our Continent. There is hope for Africans.
Andy Ethan
Nice one bro…kudos!!!!
Jon Collins
This happened two years ago and the purchase price was never disclosed.
Gideon Odunayo Praise
Well done brother..so proud of you.
Doc Nanasei Kwadwo Boateng
Great nyc Job✌️✌️
Uzoh Okoli
Worthy of emulation yahoo boys come on
Modise Khoabane
Nice stuff
Obinna Segun Onuorah
Now he is a Nigeria because he doing good, when he is caught with drugs he will be called a greedy Igbo man
Collins Ogoke
This young man is an igbo man from Mbano in Imo state Nigeria. Good, intelligent and hard working is what igbos are known for all over the world.
Dondi Smith
Chinedu is my dude!! I’ve known him since the 7th grade.
Ngozi Okafor
Chinedu, I’m single and ready to mingle with you. Abeg inbox me let’s start something beautiful lmao
Gordy Blay
There is nothing tribal about it , the main thing is that he is a Nigerian.. There is this guy that bought , I think Gatwick airport, he’s Yoruba.. All I am thinking is good for Nigeria.. All the negative stuff associated with Nigerians is quite over due.. Now,!, now!, this is one of the good guys
Peter Igwilo
Great!
James Martin A Ogamba
Philip Emeagwali the father of internet.
James Martin A Ogamba
Biafran’s are highly intelligent , in the mould of Philip Emeagwali the father of internet .
Apple Inc. Buys Nigerian Born Chinedu Echeruo’s Hopstop.com For $1 Billion | NaijaPinup
[…] taken from African Leadership Magazine website here on Tuesday the 19th of May @ […]
Deji Ladipo
Lovely and I am proud to see my fellow Nigerians making strides!!! More grease to ur elbow Chinedu!!
Epee Dingong
Nice
Woodie Lesesne
So happy to learn more about these innovators. #Truthtopower
Sam Dimeji Giwa
Awesome
Shimon Diesel
Chinedu Echeruo is Africa’s Steve Job. I am so proud of you.
Nelking Nwabueze
Very inspiring to see Nigerians and Africans succeeding in a big way.
GAME CHANGERS: Chinedu Echeruo Banked $1 Billion From Apple For HOPSTOP App? + Kimora Lee Simmons Leaves JustFab | Twatchin
[…] giant Apple acquired Chinedu Echeruo’s HopStop.com for $1 Billion, according to African Leadership Magazine. Yep, $1 […]
GAME CHANGERS: Chinedu Echeruo Banked $1 Billion From Apple For HOPSTOP App? + Kimora Lee Simmons Leaves JustFab Gossip Noise
[…] giant Apple acquired Chinedu Echeruo’s HopStop.com for $1 Billion, according to African Leadership Magazine. Yep, $1 […]
GAME CHANGERS: Chinedu Echeruo Banked $1 Billion From Apple For HOPSTOP App? + Kimora Lee Simmons Leaves JustFab Noir Chat
[…] giant Apple acquired Chinedu Echeruo’s HopStop.com for $1 Billion, according to African Leadership Magazine. Yep, $1 […]
GAME CHANGERS: Chinedu Echeruo Banked $1 Billion From Apple For HOPSTOP App? + Kimora Lee Simmons Leaves JustFab
[…] giant Apple acquired Chinedu Echeruo’s HopStop.com for $1 Billion, according to African Leadership Magazine. Yep, $1 […]
Vee Wilson
Awesome!!!! Does he do small business start up assistance
Gordy Blay
Quite frankly, the story about this guy clearly depicts what tribe, and country that he’s from, which is normal when you narrate a story like this..I bet you if this story were to be negative, his ethnic group and country would have been mentioned
Jeffrey Aigbekaen
Agreed. I’m happy to hear about this man and changing the negative stereotypes of Nigeria and jokes people use.
Ifeanyichukwu Ejekubi
Good news, ride on bro
Jim Kennedy
Thanks for sharing Chinedu’s story. It inspire’s us all to http://ThinkRich.ws and creative.
Apple Inc. Buys Nigerian Born Chinedu Echeruo’s Hopstop.com For $1 Billion | CreativityTurf | A Space to Share Ideas & Innovation
[…] As seen on Africanleadership […]
Jennifer Dukes
I am super proud of you!
Alhagie Dawda
This is the kind of breaking news we want to hear. Please brother Chinedu you need to go for an African tour so that you inspire others. Wish you good luck with the management of it. Chay my own must come in name of the Almighty
Nigerian Born Businessman Chinedu Echeruo Sells his Hopstop.com to Apple Inc. for $1 Billion
[…] African Leadership magazine via AllThingsDigital reports the Nigerian born serial entrepreneur sold the site for $1 billion. Terms surrounding the deal were not disclosed. […]
Nate Banks
it’s a wonderful thing to see an African American built and leave legaciesand help his people as every other culture doesjust imagine if all are actors and athletes and rappers and pop singers did the same thing imagine how much more advanced we as a people would be it’s incredible and it’s also doable we need more men like him congratulations brother and I wish you all the success in the world
Anita Gabriella
Great Job Chinedu Echeruo!
Apple Buys Nigerian Born Chinedu Echeruo’s Hopstop.com For $1 Billion - Elsieisy's blog
[…] to African Leadership magazine via AllThingsDigital reports the Nigerian born serial entrepreneur sold the site for $1 […]
Nkem Okofu
Chinedu’s intelligence no doubt cannot be questioned coming from a background of erudite scholars (his father) the then Vice-chancellor of Imo state University, Prof. (emeritus) MJC Echeruo who single handed wrote The Igbo-English dictionary as far back as 1998 and his literary works are making waves in the US. A giant stride to the Igbo race, Nigeria, and Africa at large.
Michael Orekyeh
Kudos Nwannem……..You have made us proud. As Onyi Igbo, a Nigerian, and African and a Black Man. God Bless and more grease.
Kent Garrett
He’s a beast!check out his link
Simdy C Chisimdy
This is amazing. Good job my brother Chinese and all South East Nigeria chaps making us proud. More wisdom, Umuchineke. Carry goooo.
Apple acquires Nigerian Born Chinedu Echeruo’s Hopstop.com For $1 Billion » Oliver Cheruiyot
[…] Via African Leadership […]
CreamSA » Apple Inc. Buys Nigerian Born Hopstop.com For $1 Billion
[…] Read more: African Leadership.co.uk […]
James Martin A Ogamba
Philip Emeagwali. The father of computer.
Ndikuryayo Théo
Very proud of this guy!
“It’s been 30yrs since the City of Philly dropped bombs on MOVE9 which set fire to the entire city block.” and other Twinks… | the rasx() context
[…] Apple Inc. Buys Nigerian Born Chinedu Echeruo’s http://t.co/8dOUXKtqb8 For $1 Billion [old.africanleadership.co.uk] […]
Ray
Ride on bro, show the world Africa got it too
Mark
Great and Wonderful Right on . Thank On&On .an be aware and on guard . More power to Africa Rise Right on . Land Space food and people . All your birth right Stand strong to Stronger