African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec confirmed the IPO to TechCrunch and Jumia filed SEC documents. With the public offering, Jumia becomes the first startup from Africa to list on a major global […]

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 […]

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 […]

Africa’s agtech wave gets $10 million richer as Twiga Foods raises more capital

Jake Bright Contributor More posts by this contributor Africa’s agtech wave gets $10 million richer as Twiga Foods raises more capital Africa Roundup: Local VC funds surge, Naspers ramps up and fintech diversifies Kenya’s Twiga Foods has raised $10 million from investors led by the International Finance Corporation to add processed food and fast-moving consumer goods to its product […]

Meet Lumi, the Los Angeles startup that just raised $9 million for a packaging business

It’s not every chief executive who wakes up in the morning to a view of their office door across the parking lot from the Airstream trailer they call home, but Jesse Genet isn’t every CEO. Genet is the co-founder and chief executive of Lumi, a Los Angeles-based startup that supplies the packaging for some of […]