Jumia

JUMIA
Industry Internet, Retail, Ecommerce, Marketplace
Founded 2012
Headquarters Yaba, Lagos, Lagos State, Nigeria
Key people
  • Jeremy Hodara
  • (CEO)
  • Sacha Poignonnec
  • (CEO)
Number of employees
 3000
Website group.jumia.com

Jumia, formerly known as Africa Internet Group (AIG), is a system of Online Commerce, Marketplaces and classifieds websites and applications created in 2012. Started in Lagos, the company has a presence across 14 African countries.[1][2]

History

The first company to launch, Jumia, is an online shopping website for electronics and fashion as a direct competitor to Kilimall and Konga. It launched in Lagos, in June 2012 and was followed by Jumia Market (formerly Kaymu), a community based online marketplaces in September of that same year. Jumia Travel (formerly Jovago), an online hotel booking platform was launched in Nigeria in June 2013, just before Jumia House (formerly Lamudi), Jumia Car (formerly Carmudi) and Jumia Food (formerly Hellofood). The last two services, Jumia Jobs and Jumia Deals were launched in April 2015.

In 2014, the company launched an office in Uganda, Tanzania, Ghana, Cameroon, Algeria and Tunisia.[3] In 2015, Jumia generated about $234 million in revenue which stands for a 265% growth from 2014.[4] As of 2016, Jumia had 126 operations across 14 African countries[5], thus covering 90% of African GDP and 3 million customers. In 2016, Jumia became the continent’s first unicorn being valued over 1 billion USD.[6] In 2018, Jumia launched a lending program through Jumia Pay allowing loans to his vendors.

Acquisition of Jumia House

In November 2017, Jumia House Nigeria was acquired by ToLet.com.ng for an undisclosed amount. ToLet.com.ng and Jumia House Nigeria will merge platforms under the new name of PropertyPro.ng[7] Same month, Jumia House Ghana was acquired by meQasa.com for an undisclosed amount.[8]

Investors

In 2012, Jumia Group was launched with the support of Rocket Internet, MTN, and Millicom. In March 2016, Jumia Group secured over €300M of funding from MTN, Rocket Internet, AXA, Goldman Sachs, Orange and CDC.[9]

Awards and recognition

  • 2013 Brand Journalists Association of Nigeria Awards (Online Retail Brand of the Year)[10]
  • Jumia is listed among the Massachusetts Institute of Technology’s Smartest Companies 2017. Ranking 47 on the list, Jumia is the only African company named in MIT's top 50 smartest companies. [11]

References

  1. ↑ "5 top e-commerce platforms in Africa | She Leads Africa". She Leads Africa. 2017-09-22. Retrieved 2017-12-28.
  2. ↑ Editor, Online (2017-01-25). "Jumia Market Launches New Site Theme". THISDAYLIVE. Retrieved 2017-12-28.
  3. ↑ "Africa e-commerce firm expands to new markets". Reuters. 2014. Retrieved 2017-12-28.
  4. ↑ "Meet Africa's First Tech 'Unicorn' - Are More to Come? - Knowledge@Wharton". Knowledge@Wharton. Retrieved 2017-12-28.
  5. ↑ "Interview de Jérémy Hodara, co-fondateurde Jumia". tv5. 5 October 2018.
  6. ↑ https://www.ft.com/content/d4bf5786-ce4b-11e5-92a1-c5e23ef99c77
  7. ↑ "Online real estate startup ToLet acquires Jumia House Nigeria to create PropertyPro.Ng – TechCrunch". techcrunch.com. Retrieved 2018-03-30.
  8. ↑ "meQasa.com acquires Jumia House Ghana". 2017-11-08. Retrieved 2018-03-30.
  9. ↑ http://pulse.ng/tech/jumia-group-despite-shaky-times-tech-conglomerate-raises-50-million-funding-round-from-cdc-id5241070.html
  10. ↑ http://www.bizcommunity.com/Article/157/87/109102.html
  11. ↑ https://www.technologyreview.com/lists/companies/2017/
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