The African Internet Group (AIG) a subsidiary of Rocket Internet and owners of the Jumia Brand will be rebranding every other venture under it to become part of one very large Jumia Brand.
This decision implies that all startups under AIG would be rebranded to become part of Jumia. Essentially Hotel booking site Jovago becomes Jumia Travel, real estate site Lamudi becomes Jumia House, food ordering and delivery site HelloFood becomes Jumia Food, car classifieds portal Carmudi becomes Jumia Cars while Vendito becomes Jumia Deals and job matching site Everjobs becomes Jumia Jobs.
Management wise, there would be no change in the organisational structure of the startups as operations will remain as it is; they would only be undergoing a name change. This comes as the share price of Rocket Internet has dropped by about 25% over the last six month. This move is seen as a market strategy to boost investors’ confidence as this has been on the decline.
Jumia will now become one very large corporation with interests in travel, food, cars, deals, etc. Speaking on this, 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 about this business.”