Jumia

JUMIA
Industry Retail, Ecommerce
Founded 2012
Founders Tunde Kehinde
Raphael Afaedor
Headquarters Lagos, Lagos State, Nigeria
Key people
  • Jeremy Hodara
  • Sacha Poignonnec


Products
Number of employees
 1800
Website www.jumia.com.ng

JUMIA is a Nigerian online shopping site for a wide range of electronics, fashion, home appliances and kid’s items. The business was founded in 2012 by a team that included Jeremy Hodara, Sacha Poignonnec, Tunde Kehinde, Raphael Afaedor, and Leonard Stiegeler,[1][2][3] with funding from Rocket Internet. As of 2015, Jumia has warehouses in ten other countries, including: Egypt, Morocco, Kenya, Cote d'Ivoire, Uganda, Ghana, Cameroon, United Kingdom, Tanzania and Angola.[4]

History

JUMIA is an e-commerce startup with an aim to mimic Amazon’s success by delivering a wide range of items, from toys to generators across the African continent.[5] Shortly after the startup of the business in Nigeria, JUMIA launched warehouses in four other growing countries which include: Egypt, Morocco, Kenya and Cote d'Ivoire.[6] In 2013, the business received $35 million in Series B funding from Millicom to contribute towards its expansion in its domestic market and the move into a new 90,000 square foot warehouse located in Lagos.[7] JUMIA finished a great year in 2013 by winning the title of the Best New Retail Launch.[8] In 2014, Jumia extended its services to Uganda enabling people to shop online and have products delivered to this region.[9] In October 2012, JUMIA Egypt announced its partnership with Mobinil, an Egyptian telecommunication company. The partnership agreement consists of four main rules which include: Mobinil providing JUMIA offices and staff with the latest mobile technology solutions specifically tailored for their business needs, JUMIA's provision of Mobinil with products and services to each of the 140 retail stores spread all across Egypt, JUMIA offering products of Mobinil to their customers, and JUMIA offering special rewards for Mobinil customers through the use of a loyalty program.[10] On 26 August 2013, JUMIA launched a mobile application that enables customers to make purchases on the online store from anywhere. The mobile application offers a selection of 50,000 products.[11] Jumia's most notable competitors are Konga in Nigeria and Souq in Egypt. In both countries, all three online retailers compete for online shoppers through competitive prices and targeted marketing. This has partly led to the launch of price aggregators such as Yaoota.com to guide users through the increasing number of online products.

In 2014, the founders of Jumia, Tunde Kehinde and Raphael Afaedor stepped down and announced the new co-CEOs as Nicolas Martins and Jeremy Doutte. Tunde and Raphael’s exit from the startup was imminent and that both were on the verge of launching venture-backed startups in early 2014.[12]

At the end of December 2015, Jumia formalised the appointment of Juliet Anammah.[13] She took over from Doutte and Martin, who are taking the reins of Jumia Global across the 11 African countries in which Jumia operates. Juliet would be focusing on the focus on the customer and the partnership of Jumia with its brands and vendors such as comparison stores like bestprices.[14]

Jumia launched its online marketplace for SMEs in direct competition with the similarly named Konga Marketplace. The marketplace makes it possible for Jumia to reach over 100,000 visitors daily with its numerous sellers and products.[15]

In 2016, it was reported that Jumia made a loss of $18.8million and lost more than a third of their expected sales revenue.[16] This has been attributed to the consolidation of all other rocket business under the Jumia umbrella.[17] Despite these shaky time, Jumia Group was able to raise 50 million Euros while the parent company Africa Internet Group raised $400 million.[18]

Products and services

JUMIA’s product categories include:

Awards

References

  1. ↑ "Millicom Invests $45m In Jumia, Hellofood, Kaymu And Vamido". Retrieved 8 January 2014.
  2. ↑ "Jumia founding duo exit rocket in early 2014".
  3. ↑ "'Amazon of Africa' Jumia heats up with $26M".
  4. ↑ "About Us". JUMIA. JUMIA. Retrieved 8 January 2014.
  5. ↑ "THINK / MUST SEES / JUMIA.COM, LAGOS, NIGERIA LAUNCHED IN NIGERIA IN 2012, E-COMMERCE STARTUP JUMIA AIMS TO MIMIC AMAZON'S SUCCESS BY DELIVERING A WIDE RANGE OF ITEMS, FROM TOYS TO GENERATORS, ACROSS AFRICA". Retrieved 13 January 2014.
  6. ↑ "Jumia bets on Kenyan e-commerce market". Retrieved 13 January 2014.
  7. ↑ "Rocket Internet's e-commerce startup JUMIA raises $35M as its passes 500,000 customers in Nigeria". Retrieved 13 January 2014.
  8. ↑ "World Retail Awards: Jumia named finalist in two categories". Retrieved 13 January 2014.
  9. ↑ "Uganda: Jumia Extends Services to Uganda". Retrieved 12 February 2014.
  10. ↑ "Jumia celebrates its first year, announces Mobinil partnership". World Retail Awards. 7 October 2013. Retrieved 14 January 2014.
  11. ↑ "JUMIA partners mobile operator Mobinil". World Retail Awards. 26 August 2013. Retrieved 31 January 2014.
  12. ↑ "Jumia Confirms Exit Of Tunde Kehinde And Raphael Afaedor, Announces New CEOs | TechCabal". Retrieved 2016-01-10.
  13. ↑ "Jumia Nigeria Appoints New CEO | Africa Outlook Magazine". Africa Outlook Magazine. Retrieved 2016-01-10.
  14. ↑ "Online Stores in Nigeria - Bestprices Price Comparison". Bestprices. Retrieved 2016-01-10.
  15. ↑ "Jumia Launches Online Marketplace for SMEs | TechCabal". Retrieved 2016-01-10.
  16. ↑ Reuters, Pulse News Agency International By. "Jumia: Landing with a bump? Germany's Rocket falls back to earth". Retrieved 2016-07-09.
  17. ↑ Blogger (2016-06-27). "So Jumia wants to completely take over?". Techpoint.ng. Retrieved 2016-07-09. |first1= missing |last1= in Authors list (help); Missing |last2= in Authors list (help)
  18. ↑ Okunola, Folarin. "Jumia Group: Despite shaky times, tech conglomerate raises €50 million funding round from CDC". Retrieved 2016-07-09.
  19. ↑ "Winners and Finalists 2013". World Retail Awards. 2 August 2013. Retrieved 8 January 2014.
  20. ↑ "Winners and Finalists 2013". bizcommunity. 31 January 2014. Retrieved 31 January 2014.

[1]

[2]

External links

  1. ↑ Exclusive Online Shopping Experience on JUMIA >> http://unclenaira.com/?p=1157
  2. ↑ "Bestprices.ng - Nigeria's #1 price comparison website.". Bestprices. Retrieved 2016-01-10.
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