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. 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.
So far, there are no reports of a change in staff or management in
these companies; they are just undergoing a name change. Everything
will continue to run as is. With this move, Jumia will become a much
larger network in Africa comprising of services ranging from travel
booking to food delivery.
According to reports, this move is to help boost AIG’s marketing
strategy. Over the past six months, Rocket Internet’s share price has
dropped by more than 25% and they have had problems winning
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.”
Marek Zmyslowski, founder and ex-CEO of Jovago who left the
company on not quite amicable terms , feels that this is something the
Group should have seen coming and acted on, or at least paid
attention to advice given.
In his words, “This [move] means so many things. Failure of concept of
raising together funds for different businesses. Failure of the whole
business strategy that was pushed for the last couple years. Failure of
launching ventures without real founders that have the power of
He continued by saying, “People who saw problems coming and tried
to change something, but were not heard by the top management and
had no choice but to leave, have a bitter feeling of being right today.”
It’s safe to assume he’s one of these ‘people’ and this decision hurts
him a little. Since it’s for the good of the Group and all the companies
involved, we can only hope things work out.
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