Jumia is an online market place in Africa where variety of products are sold such as electronics, fashion and many more. And this enables the shipment and delivery of packages from sellers to consumers swiftly. Jumia Owner Net Worth and more will be discussed in this article.
Jumia Owner Net Worth
Jumia Generated Revenue about Five Years Ago. In 2015, Jumia generated $234 million in revenue. And this stands for a 265% growth from 2014. Also, in 2016, Jumia became the continent’s first unicorn.
About Jumia Service
Jumia offers a payment service. And this facilitates transactions among participants active on the Jumia platform in selected markets. It has also partnered with over 50,000 local African companies and individuals.
Jumia Owner Net Worth
Hodara who is currently 40 years old is among the youngest millionaires in the world with an estimated net worth of about $234 million. Also, his JUMIA company is valued at about $1 billion. What amazing! Having said that, below are the amazing pictures of Jeremy Hodara.
A Historical ConsiderationIn 2012, Jeremy Hodara and Sacha Poignonnec, ex-McKinsey consultants, founded Jumia along with Tunde Kehinde and Raphael Kofi Afaedor. They launched it in Lagos in 2012. Also, it expanded to five other countries. Egypt, Morocco, Ivory Coast, Kenya, and South Africa.
In 2014, the company opened offices in Tunisia, Tanzania, Ghana, Cameroon, Algeria, and Uganda, and by 2018 it was present in 14 African countries.However, in Egypt, Jumia has been trying to categorize itself as one of the leading e-commerce websites.
In June 2013, Jumia launched Jumia Travel. And it launched a hotel booking platform. Also, it launched Jumia Food, a food delivery platform.
Jumia Generated Revenue about Five Years Ago. In 2015, Jumia generated $234 million in revenue. And this stands for a 265% growth from 2014. Also, in 2016, Jumia became the continent’s first unicorn. heyy valued it at over 1 billion USD. And in late November 2018, Jumia partnered with cryptocurrency company Telcoin.
The above partnering was to enhance payment service capabilities throughout their areas of operation. The same month, Jumia and Carrefour signed a partnership to sell online products in Africa.
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Also, in April 2019, Jumia went public on the New York Stock Exchange (NYSE). And it raised $196 million in net proceeds.The share price, initially offered at $14.50, rose over 200%. And this was in the first three trading sessions. Also, the first analyst papers release 21 days after the IPO rated the company at stock targets between 27 and 40 USD.
However, after reaching a peak of nearly $50 on May 1, 2019, the share value has declined to under $5/share by year’s end.
Jumia Amazing Announcements
In November 2019, Jumia announced the suspension of its e-commerce operations in Cameroon. And this was to be effective on 18 November.
Also, it concluded that its transactional portal is currently not suitable for the current environment in Cameroon. Also, as part of the portfolio optimization effort, note. Jumia later ceased operations in Tanzania.That of Tanzania was to be effective on November 27, 2019.
While Jumia operations in Tanzania provided many opportunities for customers and vendors, note.
The company said it needed to focus its resources on other markets that can bring the best value and help Jumia thrive.Thus, the decision, the company affirmed, would help it achieve greater success in the future. On 9 December 2019, Jumia suspended Jumia Food in Rwanda.
Hence, making it the 3rd country in two months as part of continuous monitoring of the business environment. And operating costs in the markets in which it operates.
In 2012, Kasuwa (which means Market in the Hausa Language) was launched with the support of Rocket Internet, MTN, and Millicom. And they later renamed it Jumia Group. Also, in March 2016, Jumia Group secured over €300M of funding from MTN, Rocket Internet, AXA, Goldman Sachs, Orange, and CDC.
As of 2019, the largest shareholder was MTN Group. However, in December 2018, Pernod Ricard invested also in Jumia. Again, in March 2019, Jumia received 50 million euros in investments from Mastercard.
Awards and Recognition
Below are some awards and recognition of Jumia:
- 1. 2013 Brand Journalists Association of Nigeria Awards (Online Retail Brand of the Year).
- 2. Also, the 2013 World Retail Awards.
- 3. The 2014 Best Online Retail Brand of the Year Award.
- 4. 2015: E-commerce Customer Service Excellence Awards.
- 5. Also, in 2016: Jumia ranked 82nd in the Top WIRED 100 list.
- 6. Furthermore, 2017: 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.
- 7. 2019: Jumia crowned Tunisia’s best e-shop.
- 8. Also, in 2019: eCommerce Company of the Year Award in Nigeria.