"African Amazon" Jumia makes Wall Street debut

Jumia, a Nigerian e-commerce platform which counts Rocket Internet and Pernod Ricard among its shareholders, launched its IPO on the New York Stock Exchange on 12th April, a first for an African startup. Now valued at $1.9 billion, the company has raised $200 million to fund its development.

Launched in 2012, the platform has already completed a series of funding rounds totalling several million dollars. Following its IPO, the company's shares jumped 75% to $25.46 from $14.50 at launch.

The "African Amazon" reported $147.5 million in revenues last year, a 40% increase year over year, having recorded around $10 million in transactions (up 63%) in 2018. The company's management claims that the site has over 4 million active users and 81,000 sellers. 

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