Category Archives: jumia

African e-commerce startup Jumia files for IPO on NYSE

Pan-African e-commerce company Jumia filed for an IPO on the New York Stock Exchange today, per SEC documents and confirmation from CEO Sacha Poignonnec to TechCrunch. The valuation, share price and timeline for public stock sales will be determined over the coming weeks for the Nigeria-headquartered company. With a smooth filing process, Jumia will become the first African tech startup to list on a major global exchange. Poignonnec would not pinpoint a date for the actual IPO, but noted the minimum SEC timeline for beginning sales activities […]

Read more

Nigeria’s Gloo.ng drops consumer e-commerce, pivots to e-procurement

Nigerian startup Gloo.ng is dropping consumer online retail and pivoting to B2B e-procurement with Gloopro as its new name. The Lagos-based venture has called it quits on e-commerce grocery services, shifting to a product that supplies large and medium corporates with everything from desks to toilet paper. Gloopro’s new platform will generate revenues on a monthly fee structure and a percentage on goods delivered, according to Gloopro CEO D.O. Olusanya. Gloopro, which raised around $1 million in seed capital as Gloo.ng, is also in the process of […]

Read more

Venture capital and the blockchain will be the talk at Startup Battlefield Africa

TechCrunch Startup Battlefield returns to Africa next month, and we have an agenda chock-full of interesting panels and our premier startup competition. Joining us in Lagos, Nigeria on December 11 for a couple of those aforementioned panels will be Chris Folayan, the founder and CEO of Mall for Africa; Nichole Yembra, chief financial, risk and investment officer for Venture Garden Group (VGG) and a managing partner at GreenHouse Capital; and Olaoluwa Samuel-Biyi, partner at Hacked Capital. Chris Folayan, who is originally from Nigeria, graduated from California State […]

Read more