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Springleap: Eran Eyal & Eric Edelstein

Eran Eyal and Eric Edelstein have been slowly plugging away at perfecting the online social networking, crowd-sourcing and e-commerce web-based software platform used to run Springleap.com – and their efforts have finally paid off.

Juliet Pitman

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Eric Edelstein

The pair have just closed a deal worthR4 million in second-round funding, not bad going in the depths of a financialrecession. Not bad going for any start-up actually, no matter what the economicclimate.

Eyal and Edelstein co-founded FashionEvolution, the holding company of Springleap, and invested their own funds asstart-up capital. Around seven months ago, the business caught the attention ofYDE founder Paul Simon, who invested a first round of funding along withintellectual capital. The start-up’s latest investment comes from Lord DuncanBarratt, MD of Agri-Best, for a 10% equity stake in Fashion Evolution. Theinvestment will allow Fashion Evolution to further develop, improve andultimately commercialise its web platform. “Essentially, we’ve usedSpringleap.com as a testing ground for our crowd-sourcing, social networkingand e-commerce software,” Eyal explains. Springleap.com is an interactivewebsite that has created an online community of people who love great designsand great t-shirts. Aspiring designers submit their t-shirt designs online andthe community votes for their favourite one, which is then printed as a limitedrun. These are sold online, a model that has allowed Springleap to be monetisedfrom day one.Having perfected the model through Springleap, the company is nowready to take it to market. Edelstein explains how large commercialorganisations might
use it.

“Imagine a big brewing company wantingto create a new name for a beer. Using our web-based platform it can have afully functioning 100% crowd-sourcing, social network website within a coupleof weeks, and with our unique methodology it can also have a community ofpeople wanting to get involved. People who think creatively will conceptualisenew names and the general community will interact with the brand on multiplelevels, voting for the various beer names and commenting on and discussingideas about the brand.” It’s a compelling proposition and onein which Barrett saw immense possibility. “The business model shows incrediblepotential to quickly become another success story along the lines of Facebook,Twitter and Ning. “I was amazed at the innovation andpotential represented by the platform that the founders are creating. Theopportunity to invest in cutting-edge technology and development with such areputable team was an easy decision,” he said. 

Juliet Pitman is a features writer at Entrepreneur Magazine.

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25 Of The Most Successful Business Ideas In South Africa

Find out who’s making waves in numerous industries and how they managed to differentiate themselves in local and international industries.

Nicole Crampton

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“Disruption is all about risk-taking, trusting your intuition, and rejecting the way things are supposed to be. Disruption goes way beyond advertising, it forces you to think about where you want your brand to go and how to get there,” says Richard Branson.

South Africa has its fair share of innovative and disruptive businesses taking both local and international industries by storm. From cutting edge space technology to reimagined logistics, and innovative business models, here are 25 of the most successful business ideas in South Africa:

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27 Of The Richest People In South Africa

Here are 27 of South Africa’s richest people, but how did they achieve this level of wealth? Find out here.

Nicole Crampton

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Learn the secrets of SA’s most successful business people, here is the list of the 27 richest people in South Africa:

In a world with growing entrepreneurship success stories, victory is often measured in terms of money. The feat of achieving a place on this list is, however, years of hard work, determination and persistence. “One has to set high standards… I can never be happy with mediocre performance,” advises Patrice Motsepe.

From the individuals that made the 27 of the richest people in South Africa list, actual entrepreneurs and self-made business people dominate the list; while those who inherited their fortunes have gone on to do even bigger and better things with their wealth. Over the years, some have slipped off the list, while others continue to climb higher and higher each year.

  1. Elisabeth Bradley
  2. Sharon Wapnick
  3. Bridgette Radebe
  4. Irene Charnley
  5. Wendy Ackerman
  6. Paul Harris
  7. Wendy Appelbaum
  8. Mark Shuttleworth
  9. Desmond Sacco
  10. Giovanni Ravazzotti
  11. Markus Jooste
  12. Gus Attridge
  13. Gerrit Thomas Ferreira
  14. Cyril Ramaphosa
  15. Adrian Gore
  16. Raymond Ackerman
  17. Michiel Le Roux
  18. Lauritz Dippenaar
  19. Jannie Mouton
  20. Stephen Saad
  21. Patrice Motsepe
  22. Allan Gray
  23. Koos Bekker
  24. Ivan Glasenberg
  25. Christoffel Wiese
  26. Johann Rupert
  27. Nicky Oppenheimer
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Watch List: 50 Top SA Black Entrepreneurs To Watch

South Africa needs more entrepreneurs to build businesses that can make a positive impact on the economy. These up-and-coming black entrepreneurs are showing how it can be done.

Nicole Crampton

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Early-stage South African entrepreneurial activity is at an all-time high of 11%, according to Global Entrepreneurship Monitor, and entrepreneurial intentions have also increased to 11.7%. With both activity and intentions growing significantly year-on-year, there are more businesses opening up around South Africa than ever before.

The increase in entrepreneurship has seen the rise of more black entrepreneurs across numerous sectors. From beauty brands to legal services and even tech start-ups, these are 50 top black entrepreneurs to watch:

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