Jumia Group recognized in the MIT Top 50 Smartest Companies of 2017

The E-Commerce site has been recognized in the list that features giant companies like Amazon,Facebook and Ali Baba among others.

___6976355___https:______static.pulse.com.gh___webservice___escenic___binary___6976355___2017___7___11___15___IMG_9093

Africa's Jumia Group has for the second year in a row been listed in the Massachusetts Institute of Technology’s (MIT’s) 50 smartest companies, 2017.

The E-Commerce site was ranked 44th in the list that pits companies which combine innovative technology with an effective business model.

“Jumia Group is once more proud for the recognition of our persistence in fully harnessing Africa’s untapped digital potential. We believe that through technological innovations, we drive our commitment to inject feasible solutions into Africa’s economy,” says Jumia Group’s co-founder Sacha Poignonnec.

Jumia was recognized for being the continent’s first “unicorn” startup, valued at over $1 billion during a $327 million funding round that included Goldman Sachs among its investors.

Now operating all its consumer Web services that include shopping, travel, food delivery, real estate, cars, under the Jumia name, the company is working to overcome the challenges of e-commerce in the region.

All this is aimed at unlocking the spending potential of an expanding middle class.

Estelle Verdier, the Chief Operating officer and Co-founder of Jumia Travel expressed her excitement towards the recognition.

She termed it as “an assurance of our devotion to make the impossibilities in Africa, such as providing affordable travel now possible through technology.”

MIT’s list of 50 smartest companies was first established in 2010 and has featured giant companies such as Amazon, Alibaba, Facebook, Microsoft, SpaceX, and Kenya’s off-grid solar operator M-Kopa.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

4 side effects of being a virgin for too long, according to research

4 side effects of being a virgin for too long, according to research

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

Zari Hassan lectures Tanzanians over her viral black innerwear video

Zari Hassan lectures Tanzanians over her viral black innerwear video

DP Ruto's firm wins Sh190M Nairobi county gov't tender

DP Ruto's firm wins Sh190M Nairobi county gov't tender

Diana Marua hospitalized, Bahati gives update [Photos]

Diana Marua hospitalized, Bahati gives update [Photos]

Betty Kyallo shares photos of the first Subaru she bought after joining KTN

Betty Kyallo shares photos of the first Subaru she bought after joining KTN

North Korean man who smuggled 'Squid Game' into the country to be sentenced to death

North Korean man who smuggled 'Squid Game' into the country to be sentenced to death

Willy Paul apologizes to Kenyans on Behalf of Diana B

Willy Paul apologizes to Kenyans on Behalf of Diana B