Jumia plans to raise more than $100 million in secondary shares to drive stalled user growth  

Quick Summary:

African e-commerce company Jumia is selling 20 million American depositary shares over the next couple of weeks, TechCrunch has learned.

For instance, MercadoLibre in Latin America also prefers to look at the loss before income tax rather than EBITDA,” said the CEO.“During their recent results announcement, they highlighted how currency volatility in Argentina impacts finance costs.

Specifically, the funds will improve Jumia’s cash position, which currently stands at $92.8 million (comprising $45.1 million in cash and cash equivalents and $47.7 million in term deposits and other financial assets) from its Q2 2024, its most recent financial report.

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Article Details

Author / Journalist: Tage Kene-Okafor

Category: Technology

Markets: United StatesArgentinaEgyptIndiaMaliNigerNigeria

Topics: Africa Commerce E-commerce Jumia

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-06 @ 23:00:38 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1411 words

Reading Time: 8 minutes read

Sentences: 60 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 21961964

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