The African e-commerce "unicorn" continues its expansion on the continent
Launched in Nigeria in 2012 by French entrepreneurs Sacha Poignonnec and Jeremy Hodara, Jumia has become a key player in e-commerce on the continent, where it now operates in 14 countries. In 2018, the platform recorded 4 million customers.
Today, its ambitions are focused on New York City. Jumia has announced that it has begun the process of listing on Wall Street with the publication of its first public document.
South African telecoms operator MTN is currently Jumia's largest shareholder, with a 30% stake. Other shareholders include Rocket Internet, Latin American operator Millicom, Axa and Orange, Pernod-Ricard, and Goldman Sachs.
This IPO could provide considerable leverage for the startup, which aims to accelerate its development. But beyond its activities, this IPO would make Jumia the first African tech startup to conquer Wall Street.