1st African StartUp on NYSE
eCommerce Retailer Jumia
Innovative Approach to online Retailing in Africa
This is a first for Africa. Nigeria based Jumia just became the first African startup to be listed on the New York Stock Exchange. It could go public with an IPO within a month. The company offers a wide range of products online, which it delivers by scooter. The breakthrough innovation is that it has enabled mobile money and a variety of payment options throughout Africa. That's a key differentiator because there are few bank accounts in Africa.
Diversified Entity
Jumia was founded in Lagos by two French entrepreneurs in 2012 and now offers goods and services to 4 million customers throughout Africa. Besides online retailing, it has branched out into hotels, airline bookings and food delivery. Would be rivals Amazon and Alibaba have not made inroads into African online retailing because of the poor infrastructure and lack of formal addresses and bank accounts. Jamia has overcome all of that.
Market Valuation
Jumia lost $112 million in 2018. But there are reports that its market valuation will be $1.5 billion when it goes public with its IPO.
Innovative Approach to online Retailing in Africa
This is a first for Africa. Nigeria based Jumia just became the first African startup to be listed on the New York Stock Exchange. It could go public with an IPO within a month. The company offers a wide range of products online, which it delivers by scooter. The breakthrough innovation is that it has enabled mobile money and a variety of payment options throughout Africa. That's a key differentiator because there are few bank accounts in Africa.
Diversified Entity
Jumia was founded in Lagos by two French entrepreneurs in 2012 and now offers goods and services to 4 million customers throughout Africa. Besides online retailing, it has branched out into hotels, airline bookings and food delivery. Would be rivals Amazon and Alibaba have not made inroads into African online retailing because of the poor infrastructure and lack of formal addresses and bank accounts. Jamia has overcome all of that.
Market Valuation
Jumia lost $112 million in 2018. But there are reports that its market valuation will be $1.5 billion when it goes public with its IPO.
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