Africa Roundup: Jumia’s post-IPO earnings, Gokada’s $5.3M raise, Facebook’s fake-news purge, Joe Montana’s fintech investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value (GMV) — the total amount of goods sold over the period — grew by 58 percent to €240 million. Marketplace revenue […]


4 Jun, 2019TECHCRUNCH.COM

Africa Roundup: Jumia’s post-IPO earnings, Gokada’s $5.3M raise, Facebook’s fake-news purge, Joe Montana’s fintech investment | BEAM

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in Pan-African e-commerce company.

On the numbers, key takeaways were that Jumia’s Gross Merchandise Value (GMV) — the total amount of goods sold over the period — grew by 58 percent to €240 million. Marketplace revenue grew 102 percent to €16 million, and gross profits as a percentage of GMV grew by 6.5 percent in Q1 2019....

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