Africa Internet Group rebranding all startups in portfolio into Jumia subsidiaries

by | Jun 17, 2016

Rocket Internet’s share price has dropped by over 25% in the last six months, and the stains are also rubbing off on Africa Internet Group (a subsidiary of the struggling German internet clone machine). More evidently as Jumia’s revenue fell 37 percent in the same period. But from the impending ashes of this current struggling Rocket Internet rises what we’d call “the new Jumia”. As it turns out, AIG is rebranding of all its ventures to Jumia in an African consolidation move.

The move will see startups under the AIG umbrella undergo some kind of rebranding. Henceforth you’d see the Hotel booking site Jovago become Jumia Travel, real estate site Lamudi to Jumia House, food ordering and delivery site HelloFood to Jumia Food. Rocket Internet’s car classifieds portal Carmudi to Jumia Cars while Vendito an OLX competitor into Jumia Deals and job matching site Everjobs to Jumia Jobs.

As it stands, this is as far as the rebranding goes. The businesses will still operate in the same vein as before and possibly retain its former staff.

Rocket Internet has been struggling to convince its investors, as its business is yet to be profitable and hence the need for readjustment so as to achieve the company’s short and long term objectives in Africa and globally.

It is believed that the move will boost Jumia’s marketing strategy and cover up lost ground; particularly as Jumia has been predominantly affected by the macroeconomics challenges that has largely resulted in recent economic downturn in Nigeria.

Rocket internet’s founder and CEO, Oliver Samwer said, “Jumia in Africa is billing out its market share in a difficult macro environment and we are very optimistic for this business in a very long life.”

Ifeanyi Ndiomewese
Ifeanyi Ndiomewese

Ifeanyi is a desk reporter-turned administrator. Outside of work, I love to read and travel.

Are you in tech and you are looking at getting a foreign remote job or you want to move abroad? Fill this form and you will get the BEST resources to help you get that high paying remote job as well as japa easily! WAGMI!

Notify of
Inline Feedbacks
View all comments

Recent News

$2 million to drive learning via WhatsApp 

$2 million to drive learning via WhatsApp 

On #TechpointDigest, we discuss how major players in the African mobility space can change the mobility narrative, FoondaMate’s $2 million funding, Twitter Create, and AMP’s $5.6 million seed round.

[PODCAST] Taxing calls to give you healthcare

[PODCAST] Taxing calls to give you healthcare

The Nigerian government wants to tax phone calls to provide better healthcare. In today’s edition of the #TechpointAfricaPodcast, we discuss possible implications and upsides to this.

TABS is tomorrow! 💃 💃

TABS is tomorrow! 💃 💃

On #TechpointDigest, we discuss Victory Farms’ $5m investment, Netflix for kids and people with disabilities, and TikTok’s plan to credit creators.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Blockchain Explorer

Analysis oninnovation, regulations, and trends inthe blockchain sector, as it concerns Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap