Jumia, a Nigerian e-commerce platform, has been making a difference in consumers’ lives for nine years. Nigeria’s top online shopping site is often referred to as the “Amazon of Africa”. However, Jumia has also faced serious downturns in its history.
Beside above, when did Jumia start Kenya? Jumia, Kenya’s no. 1 online retailer was established in May 2013 with the aim and vision to become the one-stop shop for retail in Kenya with implementation of best practices both online and offline.
Correspondingly, what is the full meaning of Jumia? According to a user from Washington, U.S., the name Jumia is of Swahili origin and means “The name Jumia comes from the Swahili word ‘Jumuiya’, meaning Independence”. According to a user from Kenya, the name Jumia is of Swahili origin and means “Jumia comes from the swahili word jumuiya, which means collective”.
Also know, when did Jumia go public? Jumia Technologies went public in April 2019 as a cash-burning machine.
Additionally, is Jumia black owned? The IPO creates another milestone for Jumia. The company in 2016 became the first African startup unicorn, achieving a $1 billion valuation after a funding round that included Goldman Sachs, AXA and MTN. There’s a lot to break down on Jumia’s going public.
Is Jumia better than Konga?
Verdict: Jumia is rated higher than Konga in terms of global internet engagement.
Who owns Jumia Kenya?
Africa pride The two Frenchmen who run Jumia as co-CEOs, Jeremy Hodara and Sacha Poignonnec, reduced their salaries just days before the first anniversary of its initial public offering (IPO) on the New York Stock Exchange (NYSE).
Who owns Kilimall?
Kilimall was founded by Yang Tao in July 2014 and is based in Nairobi, Kenya.
What’s wrong with Jumia?
Citron Research openly accused Jumia of fraud and described its equity as “worthless.” From a peak price of $49,99, Jumia stocks fell off a cliff and the bottom dropped out as the share price fell below its IPO price of $14.50. Some disgruntled investors began filing class action lawsuits.
How does Jumia make their money?
Jumia.com.ng Asides making revenue from the profit margin on items sold from its inventory, Jumia — the eCommerce platform — also charges commissions (up to 25%) on all sales made by third-party sellers.
How many customers does Jumia have Nigeria?
Nigerian e-commerce platform Jumia had 6.8 million active customers in the last quarter of 2020, up from 6.1 million LTM (last 12 months) active customers in the corresponding quarter of the previous year.
Who are Jumia competitors?
- Souq — owned by Amazon — is leading in the Egyptian market.
- Jiji — with over 8 million monthly active users, Jiji is a strong competitor in Nigeria.
- Konga — has been an war with Jumia for years in a battle to dominate the Nigerian ecommece market.
What percentage does Jumia take?
In line with the Federal Government’s directive on the Finance Act 2019, the Value Added Tax (VAT) applicable on goods and services offered by Jumia would be increased from 5% to 7.5% effective on the 1st of February 2020.
Will Amazon Buy Jumia?
According to a survey conducted in the U.S. in February 2021, majority of respondents said that Amazon should move forward with acquiring e-commerce companies, such as Alibaba or Jumia, that year. In terms of respondents’ support, 26 percent said that Amazon should move forward on an M&A with Alibaba and Jumia.
Is Jumia losing money?
Further weakness as Jumia Technologies (NYSE:JMIA) drops 5.7% this week, taking one-year losses to 84% The art and science of stock market investing requires a tolerance for losing money on some of the shares you buy. But serious investors should think long and hard about avoiding extreme losses.