Technext Technext
  • Home
  • Stories
    • Nigeria Seeks to Regulate Price of DSTV, GoTV and Startimes through NBC
      Nigeria Seeks to Regulate Price of DSTV, GoTV and Startimes through NBC
      3 hours ago 0
      44
    • Rubies is Changing Digital Banking Experience with its Robust Fintech Services
      Rubies is Changing Digital Banking Experience with its Robust Fintech Services
      5 hours ago 0
      23
    • FG Extends NIN Registration Licence for Telcos to 5 Years, Approves Establishment of SIM Swap Centres in LGAs
      FG Extends NIN Registration Licence for Telcos to 5 Years, Approves Establishment of SIM Swap Centres in LGAs
      8 hours ago 0
      71
    • Onyeka Akumah Steps Down as Crowdyvest Transitions into Fintech Platform
      Onyeka Akumah Steps Down as Crowdyvest Transitions into Fintech Platform
      22 hours ago 0
      139
    • Digital Assets: Should I Buy Bitcoin (BTC) or Wrapped Bitcoin (WBTC)?
      Digital Assets: Should I Buy Bitcoin (BTC) or Wrapped Bitcoin (WBTC)?
      23 hours ago 0
      199
    • Nigerians Consume Over 80 million Gigabytes of Data per Month Despite Paying More
      Nigerians Consume Over 80 million Gigabytes of Data per Month Despite Paying More
      1 day ago 0
      65
    • All New OPPO Reno 5 Specs and Price Released Ahead of Launch in Nigeria
      All New OPPO Reno 5 Specs and Price Released Ahead of Launch in Nigeria
      1 day ago 0
      41
    • ‘We’ve Only Scratched the Surface’- Babajide Duroshola on SafeBoda’s 1st Anniversary
      ‘We’ve Only Scratched the Surface’- Babajide Duroshola on SafeBoda’s 1st Anniversary
      1 day ago 0
      54
    • Telcos Lose over 4.2m Subscribers and N10bn Revenue to NCC’s Sim Registration Ban
      Telcos Lose over 4.2m Subscribers and N10bn Revenue to NCC’s Sim Registration Ban
      1 day ago 0
      57
  • Features
    • ‘We’ve Only Scratched the Surface’- Babajide Duroshola on SafeBoda’s 1st Anniversary
      ‘We’ve Only Scratched the Surface’- Babajide Duroshola on SafeBoda’s 1st Anniversary
      1 day ago 0
      54
    • ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      5 days ago 0
      986
    • ‘I thought it was Spiritual Problem’- Nigerian Men on How Virtual Sports (Baby) Bankrupted Them
      ‘I thought it was Spiritual Problem’- Nigerian Men on How Virtual Sports (Baby) Bankrupted Them
      1 week ago 0
      305
    • Aeglehealth Lets You Get Medical Care from a Specialist Minutes after Booking an Appointment
      Aeglehealth Lets You Get Medical Care from a Specialist Minutes after Booking an Appointment
      1 week ago 0
      160
    • Symbiotic Relationships are Needed to Enhance Femtech Innovations – Abisola Oladapo, MumSpring Founder
      Symbiotic Relationships are Needed to Enhance Femtech Innovations – Abisola Oladapo, MumSpring Founder
      2 weeks ago 0
      198
    • CBN Didn’t Ban Cryptos to Fight Criminal Activities but to Curtail Capital Flight- Danny Oyekan, CEO of Dan Holdings
      CBN Didn’t Ban Cryptos to Fight Criminal Activities but to Curtail Capital Flight- Danny Oyekan, CEO of Dan Holdings
      2 weeks ago 0
      299
    • Tony Lauriola of Coins App Explains the Reason Young Africans are Embracing Cryptocurrencies
      Tony Lauriola of Coins App Explains the Reason Young Africans are Embracing Cryptocurrencies
      2 weeks ago 0
      371
  • Reviews
    • Rubies is Changing Digital Banking Experience with its Robust Fintech Services
      Rubies is Changing Digital Banking Experience with its Robust Fintech Services
      5 hours ago 0
      23
    • Telcos Lose over 4.2m Subscribers and N10bn Revenue to NCC’s Sim Registration Ban
      Telcos Lose over 4.2m Subscribers and N10bn Revenue to NCC’s Sim Registration Ban
      1 day ago 0
      57
    • Tech Events this Week: Lagos Digital Summit, Future of Banking in Africa and Others
      Tech Events this Week: Lagos Digital Summit, Future of Banking in Africa and Others
      2 days ago 0
      103
    • The Partnership  Between GIGL and Visa Will Empower Merchants to Achieve Seamless Delivery at a Low Cost
      The Partnership Between GIGL and Visa Will Empower Merchants to Achieve Seamless Delivery at a Low Cost
      4 days ago 0
      667
    • Jumia Recorded Over 4.4 million Cancellations, Returns and Failed Orders Despite a Successful 2020
      Jumia Recorded Over 4.4 million Cancellations, Returns and Failed Orders Despite a Successful 2020
      6 days ago 0
      136
    • Apple Finally Tops Global Smartphone Market and Could Remain There with New iPhone 13
      Apple Finally Tops Global Smartphone Market and Could Remain There with New iPhone 13
      1 week ago 0
      491
    • Meet the 6 Nigerians Nominated for the £25,000 Africa Prize for Engineering Innovation
      Meet the 6 Nigerians Nominated for the £25,000 Africa Prize for Engineering Innovation
      1 week ago 0
      223
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    Jumia Plunges on the New York Stock Exchange as Post-IPO Restriction on Share Sales Ends

    Adenike AdebowaleAdenike Adebowale
    October 12, 2019
    Jumia Plunges on the New York Stock Exchange as Post-IPO Restriction on Share Sales Ends

    Africa’s e-Commerce giant, Jumia, just suffered its lowest plunge on the New York Stock Exchange.

    Early on Thursday, Jumia’s shares began at $7.54, then by 2pm, the shares fell to $6.98 which is the e-Commerce company’s all time low so far.

    Before the close of the day however, the shares picked up a bit to close at 35 cents down from the opening value at $7.19.

    Post IPO lockup period expires

    Before Jumia’s public listing, a number of people had purchased equity as major shareholders during the initial public offering (IPO) .

    This set of people are prevented from being able to sell off their shares for a specified period of time – this is the IPO Lockup provision.

    After the expiration of the lockup period, Jumia did not have a major stock sell and so , naturally, their shares took a hit.

    Before and after IPO: the Jumia tale

    In April earlier this year, Jumia made waves by being the first African tech startup to list in the New York Stock Exchange (NYSE). This move caused the company’s shares to bloom by over 70%.

    When it listed, its share price was $14.50. This increased to a record $46.99, the highest for Jumia’s shares so far.

    However, Jumia has experienced major lows in recent times. The latest being the significant drop in shares, a result of its shareholders not making a big stock sell after the lockup expiry period.

    In addition, there have been speculations that major investors may drop Jumia.

    Recently, the company was accused of fraud in its SEC filing and also made a public statement to admit that its staff had employed less than standard methods in some of their dealings.

    In its second quarter revenue growth report, the company recorded more losses this year than last year: 67.8 million euros as compared to last year’s 42.3 million euros.

    Jumia Announces 58% Growth in Revenue in Q1 2019 Despite Fraud Accusation
    A woman works at the packaging unit at a warehouse for an online store, Jumia in Ikeja district, in Nigeria’s commercial capital Lagos June 10, 2016.REUTERS/Akintunde Akinleye

    The tale is not all sad however. Jumia increased its customer base to 4.8 million as compared to last year’s number of 3.2 million over the same quarter.

    It’s yet unclear if a turnaround is in sight but we hope that Africa’s first tech startup company to list on the NYSE works out problems.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email
    Adenike Adebowale

    Adenike Adebowale

    Captivating books, cups of tea, sparkling friendships, strong trust in God...not just living. Alive :)

    12 Nigerian Startups Nominated for AppsAfrica Innovation Award 2019
    Next article
    12 Nigerian Startups Nominated for AppsAfrica Innovation Award 2019
    Once Again Police Cracks Down on Oride, Max.ng, Gokada Bikes in Lagos
    Previous article
    Once Again Police Cracks Down on Oride, Max.ng, Gokada Bikes in Lagos

    Related Posts

    • Stories 3 hours ago

      Nigeria Seeks to Regulate Price of DSTV, GoTV and Startimes through NBC

      Nigeria Seeks to Regulate Price of DSTV, GoTV and Startimes through NBC
      Reviews, Stories 5 hours ago

      Rubies is Changing Digital Banking Experience with its Robust Fintech Services

      Rubies is Changing Digital Banking Experience with its Robust Fintech Services
      Stories 8 hours ago

      FG Extends NIN Registration Licence for Telcos to 5 Years, Approves Establishment of SIM Swap Centres in LGAs

      FG Extends NIN Registration Licence for Telcos to 5 Years, Approves Establishment of SIM Swap Centres in LGAs
    • Stories 22 hours ago

      Onyeka Akumah Steps Down as Crowdyvest Transitions into Fintech Platform

      Onyeka Akumah Steps Down as Crowdyvest Transitions into Fintech Platform
      Stories 23 hours ago

      Digital Assets: Should I Buy Bitcoin (BTC) or Wrapped Bitcoin (WBTC)?

      Digital Assets: Should I Buy Bitcoin (BTC) or Wrapped Bitcoin (WBTC)?
      Stories 1 day ago

      Nigerians Consume Over 80 million Gigabytes of Data per Month Despite Paying More

      Nigerians Consume Over 80 million Gigabytes of Data per Month Despite Paying More

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • Loon, A Balloon-powered Internet Service to Finally Launch in Kenya this Month
      Loon, A Balloon-powered Internet Service to Finally Launch in Kenya this Month
      8 months ago 0
    • If your Startup is Using AI for Industrial Automation then Nokia’s $175k Open Innovation Challenge is for You
      If your Startup is Using AI for Industrial Automation then Nokia's $175k Open Innovation Challenge is for You
      May 2, 2019 0
    • Jumia Plunges on the New York Stock Exchange as Post-IPO Restriction on Share Sales Ends
      Jumia Plunges on the New York Stock Exchange as Post-IPO Restriction on Share Sales Ends
      October 12, 2019 0
    • Nigerian Government Likely to Regulate Cryptocurrency Trading as Citizens Grow Interest and Risk Appetite
      Nigerian Government Likely to Regulate Cryptocurrency Trading as Citizens Grow Interest and Risk Appetite
      8 months ago 0
    • Uber is Offering Drivers a Chance to Earn in Real Time and Get Cash Back Incentives with its New Service, Uber Money
      Uber is Offering Drivers a Chance to Earn in Real Time and Get Cash Back Incentives with its New Service,
      October 31, 2019 0

    Follow Us

    Latest Tweets

    • technextdotng Nigeria is not the first country to propose a bill that regulates the prices of DSTV and other PayTV service provid… https://t.co/wQVbYsUkAx
      about 5 minutes ago
    • technextdotng What this means is that about 80m Nigerians are working roughly 160 hours to earn less than N30,000 per month, at a… https://t.co/3LCo3qOUwl
      about an hour ago
    • technextdotng New post: Nigeria Seeks to Regulate Price of DSTV, GoTV and Startimes through NBC https://t.co/ogc7O4wiDI
      about an hour ago
    • technextdotng How much Data do you use every month? #Data #Nigeria #Internet
      about 4 hours ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    In Sub-Saharan Africa (SSA), Nigeria’s monthly d In Sub-Saharan Africa (SSA), Nigeria’s monthly data consumption of 80,000 TB(80 million GB) is only topped by South Africa, which expends up to 269,000 TB every month. Kenya and Ghana complete the four largest consumers, using 22,400 TB and 8,100 TB of monthly internet data respectively.

But, Ghana and Kenya switch places when monthly data usage is measured relative to the number of internet users. With 36.54 million internet users, South Africa still leads with 7.4gb per user. Nigeria’s 108.27 million internet subscribers see data spent per user at 0.73gb, followed by Ghana’s 0.55gb and Kenya’s 0.47gb.
.
.
.
.
.

#Nigeria #Ghana #Africa #Data #Internet #TechNews #Technology #Tech #SouthAfrica #Kenya #fintech #f10 #spain #madrid #incubator #fundraising #startup #insurtech #remittances #productdevelopment #technology #technews #research #business #trends #businessinsider #disrupter
    How was February for you? Due to the various inte How was February for you?

Due to the various interesting happenings in the month like #ValentinesDay and Bitcoin’s journey to the top, it was one ride of a month. As a result, there were more than 10,000 searches by #Nigerians for #Bitcoin Price and another 10,000 searches by people who wanted to know about #Dogecoin.

Other interesting topics that came up in the month include Adesua Etomi’s baby, Sunday Igboho and the ban on #crypto in Nigeria. So settle in, get a snack and enjoy the most-searched topics on #Google in #February.

Check them all out on Technext.ng
.
.
.
.
.
#Headies14 #Music #Nigeria #Search #Google #Crypto #Cryptocurrency #cryptoworld #cryptotrading #cryptomarket #cryptonews #cryptoinvestor #bitcoininvestment #bitcoinexchange #ethereum
    Apparently, majority of voters on our poll are not Apparently, majority of voters on our poll are not willing to pay a premium on Twitter.

Are you?
#Twitter #SocialMedia
    It’s a new month, a new week. and a new day. Let It’s a new month, a new week. and a new day.
Let’s stay focused and determined.
#March2021
    "if the CBN’s major concern is capital control t "if the CBN’s major concern is capital control they can be limits to how much users can purchase using exchanges or OTC Desks."
-
@trillionaire, Founder, @coins.app and @dan.holdings on regulation the CBN Governor can place on Cryptocurrency.
#bitcoin #Crypto #Bitcoin #cryptocurrencies #cryptoworld #cryptotrading #cryptomarket #cryptonews #cryptoinvestor #bitcoininvestment #bitcoinexchange #ethereum #Nigeria
    Known for viral trends and iconic memes, TikTok ha Known for viral trends and iconic memes, TikTok has been loved by many as a place where spreading joy and information goes beyond age. Whether it’s quick educational videos you’re looking for or fun tips on how to get involved in the latest viral challenge, TikTok is an all-inclusive platform where adults can come as well to not only express themselves creatively but to be their authentic selves.

Still think that TikTok is for teenagers only? Keep reading!

This list is a mix of 30 TikTok celebs and creators, all over the age of 30, who constantly remind us that TikTok is a place where everyone belongs. Check out their profiles to find educational and entertaining videos that you won’t be able to get enough of. 

Check them all at Technext.ng
.
.
.
@tokemakinwa, @_tosinsilverdam, @toyin_abraham, @ufuomamcdermott, @veezeebaybeh, @wofaifada, @yeancar_posh, @yemialade, @deejayneptune, @kunleremiofficial
.
#fashionista #influencerlife #ootd #tiktok #likes #k #marketing #digitalinfluencer #viral #vibes #socialmedia #fashionstyle #motivation #instagramers #explorepage #moda #followers #f #inspiration #instafashion #beautiful #followme #fashioninfluencer #business #cute #instagram #instalike #photo #styleblogger
    Load More... Follow on Instagram

    Random News

    • Nigerians Turn to POS Kiosks For Cash Withdrawal as Number of Active ATMs Drop
      Nigerians Turn to POS Kiosks For Cash Withdrawal as Number of Active ATMs Drop
      3 months ago 0

      The number of POS transactions in the country rose to an all-year high of 68.4 million in October, according to ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy