Founded in 2012, Jumia has grown to tremendous scale in just 8 years: 110,000 sellers on the platform. 6.8 million annual active customers.
Also know, 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.
Similarly, is Jumia owned by a Nigerian? 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.
You asked, 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.
In this regard, 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.
Verdict: Jumia is rated higher than Konga in terms of global internet engagement.
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”.
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.
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.
Does Jumia deliver to UK?
Does Jumia Ship To the UK? No, Jumia does not ship to the UK, but I’ve designed a process for getting any Jumia order shipped to the UK with zero headaches. It involves using a package forwarder: a warehouse in the United States that will accept your Jumia order and forward it on to you in the UK.
Is Jumia popular in Africa?
Summary. Jumia’s financial performance over the past several years has been nothing short of underwhelming. Equipped with an addressable market of 1.2B consumers, Jumia is the frontrunner in Africa’s e-commerce 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.
Is selling on Jumia profitable?
Despite the business model shakeup, Jumia is still not profitable, and it is also not growing as fast as it once was. Jumia’s customer base grew to 6.9 million, 500k customers (6.9%) higher than 6.4 million in Q1 2020.
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.
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).
How many employees does Jumia have Nigeria?
With over 5,000 employees in more than 10 countries in Africa, Jumia is led by top talented leaders offering a great mix of local and international talents and is backed by very high-profile shareholders.