Tag Archives: Rocket Internet
Rocket Internet: Latest News
Kevin Mwanza, 4:10 am AFKI Original
Africa’s largest hotel booking website, Jovago, is counting on its focus on local travelers across the continent to wave through a slowdown in tourist numbers in East Africa, one of its leading markets, due to increased terrorism threat. Estelle Verdier-Watine, Jovago’s Eastern and Southern Africa managing director, told AFKInsider the startup was edging closer to breaking even in the region despite reduced tourism activity in Kenya, one of the region’s largest tourist market.
Staff, 3:50 am
Africa Internet Group (AIG), a subsidiary of Rocket Internet, is renaming its companies in the African market to become part of one huge Jumia brand. This means all startups under AIG are undergoing some form of rebranding or the other. Basically, their names are going to be changed to Jumia-something. Jovago will become Jumia Travel, Lamudi will be Jumia House, HelloFood is morphing into Jumia Food, Carmudi will be Jumia Cars, Vendito will become Jumia Deals, and Everjobs will be known as Jumia Jobs.
Kevin Mwanza, 7:17 am
Ringier Africa and One Africa Media have merged to form what they say is Africa’s largest online classified asset under a company called ‘Ringier One Africa Media.’ They’ve brought together more than seven online platforms operating across six countries on the continent. Some of the brands to be managed under the new entity include OAM’s Jobberman, Brighter Monday, Cheki, BuyRent Kenya and PrivateProperty Nigeria.
Kevin Mwanza, 5:31 am
Africa’s first tech unicorn, e-commerce websites holding company Africa Internet Group (AIG), has received $80 million additional funding from mobile giant Orange in addition to the $326 million it raised last month. AIG, the holding company for Africa’s fast growing online retail startup Jumia with operation in 11 countries, crossed the $1 billion valuation mark in March after it announced that French insurance giant AXA had invested $84 million for an eight percent stake.
Kevin Mwanza, 4:16 am
Africa Internet Group (AIG), one of the largest e-commerce companies on the continent, has raised $245 million (225 million euros) in one of the largest fundraising rounds by an African-focused tech firm. The funding has been raising from US-based investment bank Goldman Sachs and existing investors South African telecom MTN Group and German startup incubator Rocket Internet.
Kevin Mwanza, 6:41 am
French Insurance giant AXA plans to invest 75 million euros ($84 million) for a 8 percent stake in Africa Internet Group (AIG), one of the largest e-commerce companies on the continent. Nigerian-owned AIG is the holding company for Africa’s fast growing online retail startup Jumia that has operation in 11 countries. AXA’s investment now pushes AIG’s valuation to slightly over a billion dollars.
Kevin Mwanza, 7:31 am
Reports that Jumia, one of Africa’s fast growing e-commerce platforms, has cut 300 jobs in one of its flagship markets, Nigeria, raising concern that the online retailer could be shutting down its operation in the West African nation. According to a TechCabal report, the Rocket Internet funded e-commerce firm was planning to shed as much as 30 percent of its workforce in its Nigerian unit
Dana Sanchez, 11:11 am
Everjobs plans to follow a similar expansion to other Rocket Internet companies including real-estate listings site Lamudi and car classifieds platform Carmudi. “You don’t want to have a very complicated website that takes up a lot of broadband,” said an Everjobs co founder. “We can do this well because we’ve been doing it for a while.”
Kevin Mwanza, 9:10 am AFKI Original
Hotels.ng, Nigeria’s leading hotel booking website, plans to cover most West African countries by the end of this year before venturing to other regions of the continent, but it will not raise any more funds anytime soon after it got a financial boost from venture capital funds Omidyar Network and EchoVC. Last week hotels.ng announced that it had raised $1.2 million from the two venture funds
Kevin Mwanza, 8:16 am
Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets – Uganda, Ghana and Cameroon, the company said on Monday. Jumia, which launched in 2012, already operates in Nigeria, Morocco, Ivory Coast, Egypt and Kenya, offering up to 100,000 different items for sale from its local warehouses.
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