In 2020, Nigerian e-commerce platform Jumia generated 139.6 million euros in revenues, marking an annual decrease of about 20 million euros from the previous year. Back in 2017, the annual revenue of Jumia was below the 100 million euros mark.
Similarly, what is the net worth of Jumia? In 2016, Jumia became the continent’s first unicorn being valued over 1 billion USD.
Considering this, is Jumia Nigeria 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.
Frequent question, how much does Jumia make in Nigeria? In 2019, Jumia’s e-commerce services in its African market generated revenues of about N63. 6 billion, representing a 24% increase from the N51. 2 billion recorded in 2018. However, the fulfilment expense which includes expenses related to third-party logistics, warehouses and pick-up stations increased to N30.
You asked, how old is Jumia? 2012: Africa internet Group (AIG) launches Jumia in Nigeria, Morocco, South Africa and Egypt.
- 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 is 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.
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.
Why is Jumia successful in Africa?
Africa pride As the virus spread, Jumia expanded grocery and sanitary offerings, introduced contactless delivery options and promoted cashless payments. It also started selling essential items in South Africa using its fashion retail subsidiary Zando’s infrastructure.
Who is the CEO of Jumia South Africa?
I spoke with Jumia co-CEO Jeremy Hodara to get his insights on these two questions and on issues that have faced the company in the past.
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.
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”.
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.
Is Jumia growing?
Scaling the platform In its third quarter, Jumia allowed its sales & advertising and technology investments to grow 228% and 27% year over year, respectively. This led to a 28% increase in total orders up to 8.5 million, a record orders number and fastest year-over-year growth in the past seven quarters.
How many customers does Jumia have?
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. The platform is available to customers in several African countries.
What is Konga worth?
Konga Now Worth $2 Billion – Forbes – Tekedia. 04122022.