Jumia IPO: Listing on NYSE is not like opening Facebook, I Can’t Help

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April 13, 2019

Hahaha – emails are flooding my blog with people asking how to list in NYSE. Inspired by the Jumia IPO success, some want help to get listed on NYSE (New York). Yes, they want that company to be listed on NYSE to hit Jumia’s $3.9 billion and take more chieftaincy titles.

Calm down people, do not fall victim of “419” or evil people. This is not like opening Facebook or Instagram account. For the fact you are emailing me is clear evidence you are not ready to even list in Nigerian Stock Exchange. Simply, stop it and get to reality. But for research purposes, these are conditions to list on NYSE.

On this one, our services are not available.

Jumia Surged 75%, Hits $3.9 Billion Cap on First Trading Day on NYSE

Tecno Mobile Goes AI with SPARK 3 Pro

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Tekedia Editors

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April 13, 2019

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Global premier mobile phone brand TECNO Mobile is ushering a new dawn into the smartphone ecosystem with the release of a new camera-centric 4G smartphone – SPARK 3 Pro. As one of the most remarkable devices to “light up” your photos, the newly released have been upgraded by AI technology to furthermore advanced the camera features.

The SPARK 3 Pro is the third installment from the SPARK series, and as expected, the device embodies the impeccability of the smartphone brand while offering a sweet price but delivers optimum value.

Jack Long, Brand Director of TECNO Mobile Middle East reiterated: “We are proud to announce the release of TECNO SPARK 3 Pro. Equipped with the latest AI technology on camera, together with 32GB ROM + 2GB RAM and runs on Android™ 9 Pie, the success of SPARK 3 Pro is predicted to surpass that of its predecessors. SPARK 3 Pro takes photography to a whole new level as it’s a by-product of rigorous research of massive human faces. Come and try, the AI Beauty Mode will blow your mind.”

AI Bright Camera

The SPARK 3 Pro device introduces a selection of premium specifications that are not commonly found in other devices of its kind. The combination of the 8MP front camera + Al Bright feature is the ideal solution for selfie lovers who want to document their moments at any time.

Furthermore, balanced with other features such as the 13MP+2MP Dual Rear Camera with 4 flash, the TECNO SPARK 3 Pro sets a new standard for photography on a smart phone, delivering exceptional HDR portrait with night shot algorithm that optimizes weak light, reduces noise in a single frame and captures clearer night shots.

Skin —— SPARK 3 can recognize different face features and tones and give the most suitable level of “re-touch” and “lighting” automatically to your photos, which including skin polish, dispel freckle, remove acne, remove pouch and black rim of the eye…
3D Face Fine-tuning —— SPARK 3 AI camera can cover 18 face dimensions to enable 3D face fine-tuning. Also help to enhance hair contrast and color saturation, highlight your forehead, nose, lips. It even smartly increases the eyelids to both left and right to extend the eye liner, you can get the beautiful photo just in one second without having make-up.
Mix Flash 2.0 —— TECNO SPARK series always with 1 ultra-bright front flash and 4 flash on rear. Adding the adjustable front flash, SPARK 3 is sure to give the best experience while taking photos, doing video chat, playing games and watching videos.

Smart Built-in with Latest Android™ 9 Pie

TECNO HiOS 4.6 is the latest operating system based on Android™ 9 Pie, aiming to provide localized and intelligent user experience. For example, system navigation gestures can replace traditional navigation keys to allow bigger screen space and present more content. HiOS carries out in-depth mining and matching according to people’s preferences and habits of using mobile software in different areas. It brings consumers more customized user experiences.

TECNO SPARK 3 Pro has a special feature to protect consumers’ privacy. You can set up your personal APP “invisible” from your mobile phone desktop, so you will be the only person who knows where your private APP are.

The design of the SPARK 3 Pro gives off a classy and trendy appearance. 6.2‘’ Notch MTK6761 with a reduced visual thickness of 5.75mm, along with a composite back glass plate, the SPARK 3 Pro is noticeably thinner and easier to grip. The model will be presented in four stylish colors – Midnight Black, Champagne Gold, Bordeaux Red and Nebula Black. TECNO SPARK 3 series will be available across stores in Dubai, Abu Dhabi, Ajman, Ras Al Khaimah, and Al Ain and is priced at about 449 AED. JUMBO Electronics has been appointed as a distributor in the UAE

Uber-ing and lifting Lyft via Acquisition

By

Ndubuisi Ekekwe

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April 13, 2019

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On July 14 2017 (see video), I made a case that Uber will merge/acquire Lyft. As Lyft loses steam, post-IPO, and Uber coming to party, the pressure will heat up on Lyft. Then Lyft will surrender, and Uber will buy it within three years. Similar rivalries have ended together: Elance/Odesk (now UpWork), Groupon / LivingSocial, Sirius / XM and Rover / DogVacay.

Shares of Lyft slid 19.55% in the past week as investors finally got their first look inside rival Uber’s business. The stock closed in the negative four out of five days this week and dropped about $3 billion in market capitalization.

The stock started the week priced at $74.45 from it April 5 close, still above its March 28 IPO price of $72. As of Friday’s market close, shares traded at $59.90 with a market capitalization of $17.1 billion, marking a new 52-week low.

Lyft sank 1.8% on Friday, a day after Uber released its S-1 where it reported 2018 revenue of $11.27 billion compared with Lyft’s $2.2 billion. Uber said it had a net profit of $997 million in 2018, though it has a loss of $1.85 billion on an adjusted EBITDA basis. Lyft reported a loss of $911 million in its public filing.

Uber is seeking around $10 billion of stock for a valuation of about $100 billion when it goes public, in New York, making it one of the biggest technology IPOs of all time.

Key Jumia Shareholders and Nationalities, $Millionaires Created in Africa and Europe

By

Ndubuisi Ekekwe

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April 13, 2019

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Before listing on the NYSE, Jumia had 100,050,976 outstanding shares. The breakdown is as follows:

Shareholder	Number of units	Percentage (%)	Nationality
AEH New Africa eCommerce I GmbH	8,409,420	8.4	Germany
Atlas Countries Support S.A.	5,753,776	5.8	Belgium
AXA Africa Holding S.A.S.	5,753,776	5.8	France
Chelsea Wharf Holdings S.à r.l.	5,235,392	5.2	Luxembourg
Millicom International Cellular S.A.	9,638,792	9.6	Luxembourg
Mobile Telephone Networks Holdings Limited	29,702,544	29.7	South Africa
Pernod Ricard Deutschland GmbH	5,087,180	5.1	Germany
Rocket Internet SE	20,644,428	20.6	Germany
	90,225,308	90.2
Others	9,825,668	9.8

Shares beneficially owned before this offering

MTN Holdings (Mobile Telephone Networks Holdings) had the largest share at 29.7%. At Friday’s valuation of $3.9 billion in the NYSE, the “Others”, at 9.8%, will translate to about $380 million. I expect a big component of that to be employee-controlled. Largely, there are a couple of millionaires therein. They will need bodyguards in many Jumia offices (lol).

Source of numbers: Jumia NYSE filing.

Jumia is making its money, some of us will help people understand it and get our own. My first presentation on Jumia Playbook is scheduled May 2, 2019 in Lagos. Our slides are updated because there is a real market validation of many hypotheses. Yes, for the first time, the world had agreed that an African operating entity with no profit can be given opportunities to rise!

LinkedIn Comment on Feed

So, by nationality, Germans and South Africans are competing for largest shareholders position, while Nigerians seem to be interested in buying lands and closing water to build new estates…

There are many ways to create massive wealth, but we have remained traditional in our approach, largely putting money on things with linear growth models anyway. It is this lack of foresight that make locals to believe that foreign companies are here to “rip them off”, but when you invest heavily in these entities, and somehow the “rip off” begins, big chunks will obviously find their way to your bank account.

As long as money remains a global citizen, you must explore ways to grow yours bigger, now Jumia has led the way; African based businesses can now rub shoulders with the big boys!

Jumia Surged 75%, Hits $3.9 Billion Cap on First Trading Day on NYSE

Going to America – Jumia’s Success in NYSE Opens the Exit Playbook

By

Ndubuisi Ekekwe

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April 13, 2019

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With the success of Jumia on its public listing in the NYSE, a new exit playbook has opened in Africa. Yes, after recording 75% surge on day 1, and hitting $3.9 billion, African founders need to study the mechanics of going to America. Had Jumia listed in Lagos, it would not have crossed $400 million market cap.

Jumia had a great day on the New York Stock Exchange on Friday. The ecommerce company surged more than 75% on its first day as a public company. People, Jumia at market cap of $3.9 billion, is now worth more than GTBank, Nigeria’s largest bank by market cap. The stock opened at $14.50 per share and ended at $25.46.

Interswitch has been over-cautious for years. Now, it is time. I expect Andela to join this party in 3 years even as Interswitch hits the market within 24 months. Cellulant will be on the way. I can predict that everyone will be going to America.

Jumia has shown that relations have been normalized – Africa can be a huge source of growth for the Street players in NYSE. Simply, there is no reason not to do it in an exchange where the liquidity is evidently unbounded.

That’s why they went there, where you have plenty moneymen, with no artificial ceiling on how much you can grow at a go. With this kind of surge, Jumia can be smiling while losing money over here; the guys there think differently. Good luck to Jumia, we expect more money to be poured into Africa, that’s actually the one that concerns us…

I have added five slides this morning in our Innovation Workshop for African startups and founders. The lead to the session is Going to America – the Jumia Playbook. Besides building for pure buyout, exiting via IPO in the beautiful America is a crystal possibility because relations have been normalized with the Street. And if Jumia holds up after reporting two quarters, I will add a new one – primary listing in U.S. with secondary listing in Nigeria or South Africa to manage the political fallout that will evidently befall Jumia in coming months. Yes, most local regulators will ask it to come and list in Africa. It must be planning for that as secondary listing.

Jumia IPO: Listing on NYSE is not like opening Facebook, I Can’t Help

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