Jumia debuts on NYSE with a 33% increase


Also known as the Alibaba or Amazon of Africa, Jumia is the first African tech start-up to list on the New York Stock Exchange, where it has debuted with a 33% increase valuing the company around 1.5 billion dollars.

During the first negotiations,  the e-tailer – now joining the “unicorns” on NYSE – offered 13.5 million shares for an opening price of $ 14.50 per share, then raised up to $ 19.

Founded in 2012 by Sacha Poignonnec and Jeremy Hodara, Jumia is based in Lagos, Nigeria and Berlin. It is active in 14 African countries, where it sells products from over 40 thousand suppliers to more than 4 million customers per year. In 2018, the company reported 550 million visitors, and delivered over 13 million packages.

Among its many investors, Jumia counts prestigious names like Rocket Internet, the first to believe in the potential of the platform, Mtn (Africa’s largest telecom and mobile company), Orange and Goldman Sachs.

Besides selling clothing items, accessories, beauty articles, high-tech devices and products from various other sectors, Jumia also delivers  a series of wide-ranging services   ̶ meals on wheels, flight and stay bookings, and online shopping in collaboration with Carrefour.

Online sales in Africa have reached 16.5 billion dollars (as per 2017 data), and they are expected to grow up to 29 billions by 2022

Our editorial staff includes people with different professional backgrounds who share a passion for writing and who want to create and develop a dialogue with their readers and with the world.

Related Posts

Sylvester Stallone’s Stunning La Quinta Mansion

An actor, director and screenwriter, Stallone is also a prolific painter whose work has been displayed in art museums and galleries in the United States, France, Russia and Switzerland. His most recent movie, Rambo: Last Blood, in which he takes on a Mexican drug cartel, opened last fall with box office sales over $91 million so far

The Fashion Experience and Strategic Design

Together with Erika, we will take our readers to the discovery of strategic design, and particularly of the relationship between this little-known yet important field with the world of luxury, eagerly waiting for recovery

Daniele Bongiovanni. Epoch at The Wall Space Gallery, Falkirk, Scotland

The solo show of Italian painter Daniele Bongiovanni, curated by esteemed curator and art critic Giosuè Allegrini and Intermedia curator-gallerist Ayshia Taskin, premieres at The Wall Space Gallery on June 5th