Neighbourhood, a co-living and working firm, has bought LocalKnowledge in South Africa.
With this acquisition, LocalKnowledge began establishing the “Neighbourhood Experience Vertical.” An all-access digital passport and insider guide, the LocalKnowledge App offers tailored suggestions and exclusive city pulse data.
App users can get local recommendations for a tailored, genuine experience. Users may easily reserve top-notch co-living and co-working rooms via the app.
The platform also helps people meet with neighbours who share their interests and views, so users can join a group of people in the city who share their views and interests. This feature makes it easier for users to share local information and make connections with each other.
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LocalKnowledge: Getting ready to rebrand
LocalKnowledge will get a new name under Neighbourgood. The main goal will always be the same, even if the name and logo change.
“Our goal will never change, even if our name and logo do.” The only different thing is that now we have the chance to make an even more significant change in the lives of people around the world. Read a part of what the company said.
This deal gives the app a chance to grow. The company has set its eyes on California after doing well in Cape Town. The start is set for early 2024, and California will be the second place where the app can be used. The final goal is to build a global network that changes the way people travel.
Baobab Network Success Story
Local Knowledge is now the fourth company in the Baobab Network group to be bought out. Some examples of past successes are Pennysmart, which Flutterwave bought; Veedez (formerly Shago Payments), which Alerzo bought; and Mangwee Payment Systems, which Zeepay Company Limited bought. This story is also one of a kind in the African start-up environment, where fintech acquisitions happen a lot.
Baobab Network, for its part, is looking for additional success stories. The program has a $100,000 investment fund right now and is looking for new businesses to back.