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Nairaland Forum / Science/Technology / Programming / Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. (1646 Views)
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Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by hienyimba(m): 12:58am On Jun 19, 2013 |
This weekend, online retailer, Jumia, raised a $35 million series B to expand its market in Nigeria, Egypt, and Morocco. The investment came from Millicom, who is located in Africa and South America. Earlier this year, Jumia also raised a $26 million Series A from Summit Partners. In a mere year, Jumia has received $61 million in funding bigger than what Google raised in its first year (1998). The Next Web Jumia the leading online retailer in Nigeria, has raised $35 million in fresh funding from Millicom to expand in its domestic market and move into a new 90,000 square foot warehouse located in Lagos. [url=http://thenextweb.com/africa/2013/06/17/rocket-internets-e-commerce-startup-jumia-raises-35m-as-its-passes-500000-customers-in-nigeria/?utm_medium=Spreadus&utm_campaign=social%20media&uid=ae62f058e49b4d7255610ec158c4e255bfbeeb43&awesm=tnw.to_b0Yvw&utm_sou]SOURCE[/url] Also, Venture Beat Africa doesn’t need Amazon. It has its own rainforests and its own e-commerce giants. Online retailer Jumia has secured $26 million (€20 million) to expand into additional markets in Africa.Source |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by kambo(m): 2:26am On Jun 19, 2013 |
afrca doesnt need amazon or amazon.com aint digging africa? 1 Like |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by hienyimba(m): 2:42pm On Jun 19, 2013 |
kambo: afrca doesnt need amazon or amazon.com aint digging africa? that's crazy. if you don't know stuffs just kip quite. I hate all you pundits that keep on complaining and back-lashing wen you've got nothing to bring to the table nor made any contributions to our mother continent....FYI, Nigeria is the 6th largest market in the world and remember that you are not smarter than the people that poured $60million into Jumia. |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by Nobody: 6:21pm On Jun 19, 2013 |
Who owns jumia? |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by kambo(m): 12:43am On Jun 20, 2013 |
hienyimba: "i hate all u pundits..." stop fuming . Africa doesnt hav the market base to attract some mnc's thts y those niches are filled by copycat clones like .. (i leave tht as an exercise to you). "6th largest market... " ? Nigeria is an emerging economy like mexico,argentina etc. So wat? Theyre other indcators required to make it attractve 2 an mnc! Not the empty tout of 6th largest market! If nigeria were tht hot, amazon wud hav been here same with yahoo and google. 6th largest market with defcient labour force to feed the mnc? 6 largest market wth low unstable power supply? Indias high pool of low cost highly skilled tech talents feeds microsoft,amazon etc south afrca too. China same. $60m na money? READ UP the kinda stakes world rollers ar talkg about.? |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by Ajibel(m): 4:39am On Jun 20, 2013 |
Jumia should take advantage of the "absence" of the big e-commerce like amazon and e-bay and expand fast to win the growing African market. This is a good one for them. The other competitors like Konga have to wake up too. |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by hienyimba(m): 7:43pm On Jun 21, 2013 |
kambo: Yahoo and Google have regional offices in Nigeria.. kambo: Bet you dont have that kinda money else you wouldn't be living & skooling on Nl. Heck you wouldn't even have the time to reply me posts. |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by kambo(m): 12:48am On Jun 22, 2013 |
hienyimba: "yahoo and google have regional offices in nigeria" I knew you'd say this ,that's Y i optionally didnt mention it. Microsoft and IBM have too! did u know that! (microsoft has a presence cuz they want to sell orignal software to banks and government.) No serious development is outsourced to nigerian - meaning - nigeria is a clearing office!! (u dont like this fact!! - ) India isnt a clearing office -serious development gets shipped there. They have a campus with R n D going on there. Ibm is here to sell servers to banks .. etc. They dont ship couchdb creator and co to lagos for nathing!!. but its a humoring move. read my lips - nigeria dont count in the world of Tech!! Google and Yahoo dont do or recruit active developers in nigeria. Their office and presence is more or less to have a toe hold for when Nigeria will emerge as a serious contender in the african market. kinda like go ther early . "I bet u dont have that kind of money" - stop being childish my guy. I bet all the posters on nairaland including seun dont have half of half of half of that kind of money. doesnt make it significant - think worldwide scope. But if i had 100 times that- wud i stop programming? no. Bill gates was still programming as a billonaire-. fortune 500 (or even 5000) companies, dont call $60M money. "living and schooling on NL?! "-ha ha ha. if i could learn from this site i'd be happy!! here dev's hardly reply developer questions!!. Try this exercise: when downloading a popular software, look at the mirror sites - only south africa (shows up and then only minimally ) thats an indication of which countries are I.T hotspots. Go try to do download apache httpd. 2 Likes |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by samfibby(m): 11:33pm On Jun 24, 2013 |
Is kambo beefing nigeria or what? Guy, calm down b4 ur thermometer explodes. |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by hienyimba(m): 11:09pm On Jun 25, 2013 |
ok @kambo |
Re: Jumia.com Gets $60 Million To Expand Its Market In Nigeria, Egypt, And Morocco. by Nobody: 2:24pm On Jun 28, 2013 |
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