Jumia Technologies Files For U.S. IPO - Jumia Technologies AG (Pending:JMIA) | Seeking Alpha
Summary
Jumia Technologies aims to sell ADSs representing underlying ordinary shares in a U.S. IPO.
The firm operates an online marketplace and logistics service in several countries in Africa.
JMIA has grown quickly but is burning through an equally high amount of cash in its quest to become the Amazon of Africa.
Quick Take
Jumia Technologies (JMIA) has filed to raise $100 million in an IPO of ADSs, according to an F-1 registration statement.
The firm has developed a pan-African e-commerce marketplace.
JMIA has grown quickly but is burning through cash and generating losses at an equally high rate.
When management provides more details about IPO pricing and valuation, I'll write an update.
Company & Technology
Berlin, Germany-based Jumia was founded in 2012 to create an online marketplace for African consumers to buy and sell goods.
Management is headed by Co-CEOs Jeremy Hodara and Sacha Poignonnec, who both co-founded the firm originally known as Africa Internet Group.
Investors include AXA Africa, Millicom International Cellular, Mobile Telephone Networks Holdings, Pernod Ricard Deutschland, and Rocket Internet.
When this shyt goes IPO I may have to cop some. The competitors in the space are Amazon obviously and Alibaba. This shyt may pop off.
