Technology
Jumia plans to raise over $100 million in secondary shares to boost stalled user growth

African e-commerce company Jumia is selling 20 million American depositary shares in the subsequent few weeks, TechCrunch has learned. The at-the-market deal goals to profit from strong results despite a volatile market.
Given Jumia’s share price of around $5.70 when the stock market opened Tuesday, the e-commerce company could potentially raise around $100 million through a brand new share offering. However, the ultimate amount will rely on the share price, which has since fallen to $4.90. The drop, from around $11 on Monday after a 200% gain in the past three months, may very well be attributed to shareholders reacting negatively to news of dilution, the impact of world carry trades, or each.
This isn’t the primary time Jumia has taken this approach. The e-tailer raised almost $600 million from secondary share sales between 2020 and 2021.
CEO Francis Dufay, who’s making a secondary share sale for the primary time, told TechCrunch that Jumia is raising money this time to speed up its business, having made significant progress in cost management and efficiency.
“The new funding will be used to expand our supply chain network, specifically by improving logistics to reach smaller cities and expanding our overall network,” Dufay noted. “We also plan to invest in technology, with a focus on marketing and supplier technology, which we believe will significantly drive growth. In short, after some deep, fundamental, hard work on cost and efficiency, we believe it’s time to shift the focus toward growth and invest additional money so we can scale the company faster and achieve even more success.”
Crossing the two million mark
Specifically, these measures will improve Jumia’s money position, which currently stands at $92.8 million (including $45.1 million in money and money equivalents and $47.7 million in term deposits and other financial assets) compared to Q2 2024. latest financial reportFor comparison, the platform’s liquidity in the fourth quarter of 2023 amounted to $120.6 million, and in the primary quarter of 2024 – $101.5 million.
The funds raised can even be used for other purposes including customer acquisition, product assortment, maintaining supplies and adding more suppliers to the market offering.
Jumia’s lively customer base has hovered around two million for several quarters. The number represents a 6.0% quarter-on-quarter increase compared to Q1 2024 and flat year-on-year growth between Q2 2023 and Q2 2024. “Our customer base is still relatively small, around two million active consumers per quarter, while we operate in markets with over 600 million people. So we can do a lot more in the customer base,” Dufay said.
Orders then rose 7% year-on-year to 4.8 million. Jumia attributes the growth to product diversification, one other area it plans to double down on with the capital raised.
However, despite the rise in orders, Jumia’s GMV and revenue fell 5% and 17% year-over-year to $170.1 million and $36.5 million, respectively. As with most of Jumia’s financial reports since recent management took over in Q4 2022, a recurring theme has been that the numbers typically highlight year-over-year improvement in constant currency, but fluctuate in dollar terms due to devaluation. For example, Jumia’s GMV in constant currency increased 35.0% year-over-year, while revenue increased 15%.
“The devaluation that occurred in our two largest potential markets, Egypt and Nigeria, at the end of the first quarter had a significant impact on our revenue quarter over quarter,” Dufay said. “However, we saw some signs of stabilization and a sharp narrowing of the spread between official and parallel market rates. More importantly, our ability to drive GMV growth in constant currency shows that our value proposition is working.”
Turning to profitability, Jumia’s adjusted EBITDA loss, which excludes finance charges, narrowed 10% to $16.3 million — in line with an 8% year-on-year decline in its operating loss to $20.2 million — primarily driven by cost-cutting initiatives.
While Jumia has used each adjusted EBITDA and operating loss to measure losses and the trail to profitability for years, Dufay insisted on the decision that the 12-year-old e-commerce platform is more likely to report a loss before income tax from continuing operations, which incorporates financial costs corresponding to the impact of FX and the associated fee of repatriating money. The loss before income tax from continuing operations was $22.5 million, down 27% yr over yr.
“We have been emphasizing this KPI more in recent quarters due to currency volatility and related costs. Reporting the full picture is essential for companies exposed to such volatility. For example, Mercado Libre in Latin America also prefers to look at pre-tax loss rather than EBITDA,” the CEO said. “During their recent earnings call, they highlighted how currency volatility in Argentina affects financial costs. Therefore, focusing on pre-tax loss provides a more comprehensive picture when operating in multiple markets with currency fluctuations.”
Technology
Meta introduces community notes in the United States next week

Next week, MET will start considered one of the company’s most vital renovation to the extent that it informs details about facts on its platforms.
On March 18, Meta will start issuing versions of social notes for Facebook, Instagram and doubts in the United States. The program copies the facts checking system, which Twitter presented in 2021 and have become the only approach to improve the introductory information after Elon Musk turned the platform into X.
Managing finish say that they deal with receiving social notes in the US before it introduces a function in other countries. It is a region with a high rate for testing a crucial latest function, taking into consideration that the US is the most lucrative finish market, but the finish line can hesitate before the introduction of social notes in other regions, equivalent to the European Union, where the European Commission is currently Study X regarding the effectiveness of social notes.
This movement may also signal the desire Marek Zuckerberg Marek I criticized the finish for the censorship of conservative points of view.

Zuckerberg announced for the first time these changes in January as a part of a broader effort to make sure oxygen of a greater perspective on its platforms. Since 2016, the finish has consisted in checking the facts of other corporations in order to confirm information on their platforms, but Neil Potts, Vice President of Public Policy Meta, told reporters on Wednesday that the systems are too biased, they usually are not scalable enough and made too many mistakes.
For example, Potts said that the finish used false labels of checking facts to An article of opinion on climate change This appeared in Fox News and Wall Street Journal. Otherwise, Zuckerberg recently told Joe Rogana in Podcast that the finish shouldn’t reject the fears of Covid-19 vaccines as disinformation.
The meta hopes that community notes will seek advice from the public belief that they’re biased, make fewer mistakes and presents a more scalable system of checking facts, which ultimately solves more disinformation. However, Meta notes that this method doesn’t replace community standards – the company’s principles that determine whether posts are considered hate speech, fraud or other forbidden content.
A review of METAM content moderation appears at a time when many technology corporations try to unravel historical prejudices against conservatives. X led the efforts of the industry, and Elon Musk claims to pay attention his social platform around “Freedom of Speech”. Opeli recently announced that he was changing the way he trains AI models to just accept “intellectual freedom” and said that he would act in order to not censor some points of view.
Rachel Lambert, Meta product management director, said in Wednesday’s briefing that META is predicated on its latest system of checking facts from open Source X algorithms around social notes.
Meta opened applications for colleagues for its Notebook Network community in February. Meta -collaborators will give you the option to suggest that directly checking the facts of claims in the Facebook, Instagram or thread post. Other colleagues will then assess the note as helpful or not helpful, partly determining whether the social note will appear to be other users.


Like the X system, the Community Meta notes assesses which colleagues normally don’t agree on posts. Using this information, the meta will only display a note when pages that sometimes oppose one another agree that the note is useful.
Even if most Meta collaborators think that a social note is required, this doesn’t mean that you just might be shown. In addition, the meta claims that it would not lower the post or account in its algorithms, even when the social note is displayed on the post.
Over the years, crowdsourcing systems, equivalent to social notes, have been seen as promising solutions regarding disinformation in social media, but they’ve flaws.
On the other hand, scientists have found that individuals consider community notes as more trustworthy than flags from the third perpetrators of facts, in accordance with the study published in the journal Science.
In one other large -scale study on the System of Checking Facts X Scientists with University of Luxembourg He stated that posts with attached social notes reduce the spread of misleading posts by a median of 61%.
But many posts don’t attach notes to them, or it takes too long. Because X, and shortly the finish require social notes to realize a consensus amongst colleagues with opposite points of view, this often signifies that checking the facts are added only after reaching 1000’s or tens of millions of individuals.
The same study of the University of Luxembourg also showed that community notes could also be too slow to intervene in the early and most viral stage of fasting.
Last test with Digital Hate Advisory Center He emphasizes the puzzle. Researchers attempted positions containing disinformation of elections on X and stated that colleagues suggested accurate, vital details about these posts in 81% of cases.
However, from amongst those posts that received suggestions, only 9% received a consensus amongst colleagues, which implies that the overwhelming majority of those posts didn’t appear with any facts.
(Tagstranslate) Facebook
Technology
The Tesla dealer in France set fire to a group addressed to musk

Tesla’s dozen vehicles were set on fire, with 8 completely damaged.
According to the French Tesla store in France, he was set on fire in what the authorities call a suspicious attack on arson
The fire broke out on March 2 in the suburbs of Toulouse from Plaisance-Dou-Touch. Eight Tesla vehicles have been destroyed, which causes an estimated lack of 700,000 euros (756 280 USD), and 4 other Teslas have been seriously damaged.
The city prosecutor’s office stated that the fire was “no accident at all.”
Investigators imagine that arsonists cut a hole in the dealer’s peripheral fence before setting on. March 4 Anarchist Group of southern France He demanded responsibilitycalling the attack a part of his mission to fight fascism.
Today, there may be an acceleration of fascist, patriarchal, exobal and colonial design. While the elites reproduce Nazi greetings, we decided to salute in our own way, Tesla’s dealer on the night of March 2-3, 2025 in Plaisance-Dou-Touch.
We burned the vehicles in the housing with two gasoline cans. Later, we wondered if fire boards could be a simpler way.“Today there is an acceleration of fascist, patriarchal, genocidal and colonial design. While the elites propagate Nazi salutes, we decided to welcome the Tesla dealer in our own way at night from March 2-3, 2025, in Plaisance-Du-Touch. We set on fire in vehicles inside the complex with two gasoline cans, “said the group in a statement.
Group message encouraged others to take similar actions Against Tesla CEO, Elon Musk and his billionaire allies. His slogan: “Hello spring, burn Tesla!” He suggests that there could also be more attacks.
While the French government didn’t accept attacks on Muska, officials have He was critical of him recently.
“Ten years ago, if we were told that the owner of one of the largest social networks in the world would support a new international reaction and intervene directly in elections, including in Germany, who would imagine it?” French President Emmanuel Macron said.
Macron’s comments refer to Musk’s presence on the far -right German political event where he expressed support for a supposedly extremist party. Musk called members not to be ashamed of the party’s past, which incorporates help in the Holocaust. Ethnic nationalism also seemed to be supported.
“It is good to be proud of German culture and German values, and not lose it in some multiculturalism that dilutes everything,” said Musk.
Since joining the administration of Trump, Musk drew controversy regarding inflammatory statements and actions.
During the presidential inauguration, musk was seen Chest movement Interpreted as a Nazi salut on the stage. The owner X denied that the gesture was deliberate, but many disagreed.
Musk also promoted the concept of taking on Canada and Denmark and include them in the United States. Citizens of countries spoke noisely against what they consider to be hostile rhetoric.
Since the influence of musk becomes an increasing number of controversial, more groups turned to direct motion against it, each in the US and abroad.
Technology
Uber finishes the acquisition of foodpand Taiwan, citing regulatory obstacles

Uber Technologies has accomplished the acquisition of foodpand Hero in Taiwan, a German technology company he said on Tuesday.
The commercial appears about three months later Taiwan antitrust regulator he blocked the contract, citing Competitive problems. The Honest Trade Commission (FTC) said that if Uber purchased a foodpand, its market share in Taiwan will increase to 90%, potentially resulting in Uber’s price increase.
Uber eats and foodpanda are The best players On the food supply market in Taiwan. In the last report was found This foodpand enjoyed a 52% market share from January 2022 to August 2023, while Uber Eats had 48%. Food supply corporations, reminiscent of foodomo and lots of other applications for providing fast food, constitute a small percentage of Taiwan market share.
Pursuant to the contract signed on May 14, 2024, Uber is obliged to pay a termination fee, which is estimated at around USD 250 million.
Uber and the delivery hero didn’t immediately reply to the technical request for comment.
When Uber announced He would buy Taiwan Division Foodpand from the delivery hero, he expected to finish the contract in the first half of 2025. Transferring in accordance with Uber Eatsa’s plan in Asia, especially by strengthening its presence in Taiwan. Both corporations also got involved in a separate agreement wherein Uber agreed to purchase $ 300 million of newly broadcast unusual shares from the hero of delivery.
The contract also emphasized the further withdrawal of the hero of delivery from the same market. At that point, the delivery hero tried to sell a package of other Southeast Asia operations – including in Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines and Thailand – an undisclosed third side. In September 2023 ended these discussionsAn announcement in a press release that “the decision to solve negotiations after months of discussion was made after thoroughly considered.”
The hero’s food supply division compete with hornbeams in Southeast Asia.
In September, his foodpanda unit released the exemption geared toward improving operations before potential sales. The cuts previously occurred with dismissals from staff in 2022 and 2023.
(Tagstotransate) Asia
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