Jumia Founder Net Worth Biography Career and Net worth

Jumia Founder Net Worth Biography Career and Net worth

Jumia Founder Net Worth 2021: Jumia is an online marketplace in Africa for electronics, and fashion among others. Also, the company offers a logistics service. And this enables the shipment and delivery of packages from sellers to consumers. Who is/are the founders? Have you ever paused to wonder? If you have, then listen.

You shall read about Jumia’s founder(s) and their net worth. However, before then, let’s consider this history.

Jumia offers a payment service. And this facilitates transactions among participants active on Jumia’s platform in selected markets. Also, it has partnered with more than 50,000 local African companies and individuals.

Jumia Founder Net Worth 2021: A Historical Consideration

In 2012, Jeremy Hodara and Sacha Poignonnec, ex-McKinsey consultants, founded Jumia along with Tunde Kehinde and Raphael Kofi Afaedor. It was launched in Lagos in 2012. Also, it expanded to five other countries. Egypt, Morocco, Ivory Coast, Kenya, and South Africa.

In 2014, the company launched offices in Tunisia, Tanzania, Ghana, Cameroon, Algeria, and Uganda, and by 2018 it was present in 14 African countries.

However, in Egypt, Jumia has been trying to categorize itself as one of the leading e-commerce websites. In June 2013, Jumia launched Jumia TravelAnd it launched a hotel booking platform. Also, it launched Jumia Food, a food delivery platform.

Jumia Generated Revenue about Five Years Ago

In 2015, Jumia generated $234 million in revenue. And this stands for a 265% growth from 2014. Also, in 2016, Jumia became the continent’s first unicorn. It was valued at over 1 billion USD. And in late November 2018, Jumia partnered with cryptocurrency company Telcoin.

The above partnering was to enhance payment service capabilities throughout their areas of operation. The same month, Jumia and Carrefour signed a partnership to sell online products in Africa. Also, in April 2019, Jumia went public on the New York Stock Exchange (NYSE). And it raised $196 million in net proceeds.

The share price, initially offered at $14.50, rose more than 200%. And this was in the first three trading sessions. Also, the first analyst papers release 21 days after the IPO rated the company at stock targets between 27 and 40 USD. However, after reaching a peak of nearly $50 on May 1, 2019, the share value has declined to under $5/share by year’s end.

Jumia Amazing Announcements

In November 2019, Jumia announced the suspension of its e-commerce operations in Cameroon. And this was to be effective on 18 November. Also, it concluded that its transactional portal is currently not suitable for the current environment in Cameroon. Also, as part of the portfolio optimization effort, note. Jumia later ceased operations in Tanzania.

That of Tanzania was to be effective on November 27, 2019. While Jumia operations in Tanzania provided many opportunities for customers and vendors, note. The company said it needed to focus its resources on other markets that can bring the best value and help Jumia thrive.

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Thus, the decision, the company affirmed, would help it achieve greater success in the future. On 9 December 2019, Jumia suspended Jumia Food in Rwanda. Hence, making it the 3rd country in two months as part of continuous monitoring of the business environment. And operating costs in the markets in which it operates.

Jumia Investors

In 2012, Kasuwa (which means Market in the Hausa Language) was launched with the support of Rocket InternetMTN, and MillicomAnd it was later renamed Jumia Group. Also, in March 2016, Jumia Group secured over €300M of funding from MTN, Rocket Internet, AXA, Goldman Sachs, Orange, and CDC.

As of 2019, the largest shareholder was MTN GroupHowever, in December 2018, Pernod Ricardinvested also in Jumia. Again, in March 2019, Jumia received 50 million euros in investments from Mastercard.

Awards and Recognition

Below are some awards and recognition of Jumia:

  1. 2013 Brand Journalists Association of Nigeria Awards (Online Retail Brand of the Year).
  2. Also, the 2013 World Retail Awards.
  3. Furthermore, the 2014 Best Online Retail Brand of the Year Award.
  4. 2015: E-commerce Customer Service Excellence Awards.
  5. Also, in 2016: Jumia ranked 82nd in the Top WIRED 100 list.
  6. Furthermore, 2017: Jumia is listed among the Massachusetts Institute of Technology’s Smartest Companies 2017. Ranking 47 on the list, Jumia is the only African company named in MIT’s top 50 smartest companies.
  7. 2019: Jumia crowned Tunisia’s best e-shop.
  8. Also, in 2019: eCommerce Company of the Year Award in Nigeria.

Jumia Founder Net Worth 2021: Jeremy Hodara

He is one of the Co-CEO & founder Jumia Group

  1. Location: Paris, Ile-de-France, France
  2. Regions: European Union (EU)
  3. Gender: Male
  4. LinkedIn: View on LinkedIn

Jeremy Hodara is the Founder & Managing Director, Africa, and France at Rocket Internet GmbH. Before joining Rocket Internet as Managing Director France, note. Jeremy Hodara worked at McKinsey in France, India, and the US.

Also, he worked there for 7 years. While there, he was focusing on retail and e-commerce. Jeremy holds a Master’s Degree in Business Administration.

Jeremy Hodara has 3 current jobs including Co-CEO & founder Jumia at Jumia Group. Also, he is the founder and Managing Director at Africa Internet Holding. And the Managing Director Africa Internet Group at Rocket Internet.

Additionally, Jeremy Hodara has had 4 past jobs. And this includes Senior Engagement Manager at McKinsey & Company. His net worth is connected to the net worth of Jumia.