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“We build a digital Africa, connecting Africans with each other, bringing consumer goods and services to all” |
Founded: May 2012 in Lagos, Nigeria
Category: Ecommerce marketplace Primary office: Dubai, UAE Core technical team: Porto, Portugal Status: Listed in NYSE Employees: 5,128 Amount raised: $823.7 million over 5 rounds |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS – 2018
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Sells
Marketplace services:
- Retain commissions based on the value of goods and services that a large and diverse group of parties sell to consumers via the marketplace, net of cancellations and returns
- Sell goods directly in selected categories where there is unmet demand or there is a need to better control the consumer experience
- Consumers pay for easy access to services such as restaurant food delivery, hotel and flight booking, classified advertising, mobile device services, and “instant delivery”
Logistics services
- Consumers pay for convenient and reliable delivery of goods
Payment services
- Consumers pay for a safe, fast and easy solution to make online payments
Channels
- Relationships with providers of online services, search engines, social media, directories and other websites used to provide content, advertising banners and other links that direct consumers to company websites
- Newsletters in the form of emails and other messaging services
- Multi-channel approach to consumer support – respond to requests by email, through hotlines and via social media
- Shareholders and/or their affiliates sell their goods on marketplace and promote the marketplace via their goods and distribution channels
- More than 100 logistics providers are integrated into company’s logistics service and help sellers deliver goods to consumers
- Banks and other payment providers promote company’s services
- Advertise using applications on others’ platforms
- Market via social media sites, including Facebook
- Targeted TV and radio ads
Competencies
- Operates in 14 countries in Africa. Technology, strategy and raising funds are centralized. Manage operations on a decentralized basis – local managers have significant freedom concerning day-to-day operations
- Brand is well known by consumers and sellers – delivers all goods and services under the Jumia brand
- Deep knowledge of the logistics and payment landscapes in African markets
- Continuously develop a technology platform coupled with coordinated local presence
- Large network of leased warehouses, pick up stations for consumers and drop-off locations for sellers and more than 100 local third-party logistics service providers
- Advanced technology platform collects significant amounts of data that drive proprietary algorithms — help run the business more efficiently and enable sellers, consumers and partners to maximize the value of the platform
Resources
Assets
- Founder-led management team
- Only Ecommerce business operating across multiple regions in Africa
- Global technology center in Porto, Portugal provides the centralized, unified technology backbone for operations
- Proprietary ICT technology, algorithms and data
Processes
- Processes that seamlessly integrate and manage all logistics partners and assets
- Process to raise funds – raised $823.7 million in 5 rounds
- Manage distant notes across Africa
Priorities
- “Mobile-first” approach – Africa is a mobile-centric market
- Ecosystem collaboration
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Develop and sell products that address a problem, job to be done or a need that is shared by a large and growing number of individuals and organizations in various regions to increase sales
- Increase sales by offering a variety of products and services to each market
- Sell online using a variety of online and offline promotional channels to increase the number of new customers and the retention rate of existing customers
- Increase value by arranging and directing a community comprised of groups that are external and internal to the company and connect everything needed to scale
- Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
- Manage foreign partners who are geographically separate, institutionally distant, and operate in different time zones to increase value
- Increase value by using a compelling image of the desired future company to convince others to provide the funding and resources the company requires
References
- Crunchbase. 2019. Jumia Group Funding Rounds. https://www.crunchbase.com/organization/jumia-group/funding_rounds/funding_rounds_list#section-funding-rounds
- Jumia website. https://group.jumia.com/
- Kazeem, Y. 2019. What makes Africa’s largest e-commerce platform African? March 19. https://qz.com/africa/1572318/what-makes-jumia-an-african-startup/
- Kehinde, T. 2019. Linkedin Profile. https://www.linkedin.com/in/tunde-kehinde-048aa635?originalSubdomain=ng
- PitchBook. 2019. Jumia Profile. https://pitchbook.com/profiles/company/56263-96
- United States Securities and Exchange Commission. 2019. Form F-1 Registration Statement. https://www.sec.gov/Archives/edgar/data/1756708/000119312519071692/d650749df1.htm#toc
- Wikipedia. 2019. Jumia. https://en.wikipedia.org/wiki/Jumia
Contributors
- Toye Akinwumi
- Esther Anegbe
- Eduardo Bailetti
- Tony Bailetti