History
Jumia Market
was founded by Jeremy Hodara and Sacha Poignonnec in February, 2013. The
company started operations in Nigeria and Pakistan that same year under the
name Kaymu; after receiving an undisclosed amount of seed funding from Rocket Internet The
company grew from an employee base of ten to sixty within first nine months and
opened operations in Ghana and Morocco in October, 2013.
By June 2015, Kaymu had expanded its
operations to Algeria, Saudi Arabia, Croatia and Angola Mozambique, Bangladesh,
Nepal, Myanmar, Slovenia, Sri Lanka, Bulgaria, Uzbekistan, and the Philippines,
bringing the total number of countries to 35. Jumia Market employs eBay's
business model, serving as an online mall where sellers and buyers meet to make
transactions.
The company launched its smartphone apps
for Android, iOS and Blackberry in September, 2014 tapping into the tremendous
growth of mobile technology, especially on the African continent. In March 2016, AIG announced
that top tier investment bank, Goldman Sachs and French Insurance company AXA,
had joined its list of investors with both investing a cumulative sum of over $300
million. The
company is headed globally by Massi Spalazzi, who serves as Chief Executive
Officer (CEO), while Andrea Di Natale serves as the company’s Chief Operating
Officer (COO).
In June 2016, AIG, via a combination of
a live Periscope broadcast and Twitter feed updates, announced that it was
merging all its online brands into one company: Jumia. As
a result, platforms exploring food, real estate, automobile, travel, and
general goods market, became a part of the Jumia franchise.
Products and services
In October 2015, Jumia
Market Village, an offline store, was created to help attract customers who
were skeptical about the safety of online transactions.The store was designed
to create an environment for customers who were looking to interact with
sellers face to face and customers who could not complete payments through the
Internet.
Jumia Market launched AIG Express, a
logistics network, in May, 2015 to help ease logistics and operations
management in Africa. AIG Express aims to provide faster delivery time while
creating 100,000 jobs in Africa.
Jumia Market SafePay was
launched in May, 2013 as an avenue for safe payments on its platform. SafePay
is an escrow service that allows buyers yo pay directly to Jumia Market for
items bought plus the cost of delivery, while sellers have to ship the item
purchased to the buyer before receiving the money from Jumia Market.
Controversies
Jumia Market, like other startups backed by
Rocket Internet, has come under heavy criticism for its duplicate business
model. Rocket Internet has been
accused of not having any original business ideas and taking business models
that have succeeded in Europe and the U.S. and cloning them in emerging
economies. Jumia Market has been described as a company that copied the eBay
business model.
.
You can check here differents products that are available on Jumia Shopping Mall
And so many products of your
interest
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