Jumia, Africa’s Failed Unicorn Is Hemorrhaging Millions [Forbes]
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Source: Forbes
A Jumia scooterman arranges product to be delivered to clients at the Ikeja warehouse of the company... [+]in lagos on June 12, 2013. JUMIA is a Nigerian based online retail company, where customers purchase their electronics, books, phones, DVDs and other choice products and have them shipped directly to their homes or offices with several payment options to choose from. JUMIA, the fourth largest Nigerian website, which recently turned one years old have hit over half a million customers in the country. Jumia is funded by Rocket Internet, a Germany based Internet incubators globally responsible for starting market leading e-commerce companies. AFPPHOTO/PIUS UTOMI EKPEI (Photo credit should read PIUS UTOMI EKPEI/AFP via Getty Images)A little over a year ago Jumia, known as the Amazon or Alibaba of Africa became the first major African tech company to go public on the New York Stock Exchange. Since then the struggle has been very real for the e-commerce company that once operated in 14
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