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Elumelu Invests In Silicon Valley Social Network Platform

Elumelu Invests In Silicon Valley Social Network Platform

Heirs Holdings, the investment company owned by Nigerian businessman Tony Elumelu, has invested in a Silicon Valley custom video profile platform, Wonderloop, VenturesAfrica reports.

Funding is in the form of a loan in an undisclosed amount to Wonderloop, which describes itself as the world’s first video profile platform. The money is intended to help create a prototype that speeds up functionality and recognition of the social network platform.

Heirs Holdings has invested in other high-potential U.S. tech startups such as Planet Labs, a San Francisco-based company that manufactures innovative satellite technology.

The Wonderloop application offers a 10-to-15 second video profile as opposed to bios and images, allowing a viewer to see “the real you, a new means of connecting with others as opposed to Face Time and Skype,” VenturesAfrica reported.

The California-based platform was founded by Norwegian entrepreneur Hanna Aase, and is expected to launch in 2015. Users will only be given access to the platform via invites, the report said.

“I am excited about Wonderloop’s vision of giving everyone in the world an opportunity to be seen through this dynamic cutting-edge video-profile system,” said Elemelu, who is chairman of Heirs Holdings and founder of the Tony Elumelu Foundation.

Elumelu said he plans to bring lessons learned from investments in Silicon Valley technology to African tech entrepreneurs, VenturesAfrica reports.