Acquisitions, more than IPOs, will create Africa’s early startup successes – TechCrunch

Fundings and Exits


Africa has made its global IPO debut. Pan-African e-commerce company Jumia—a $1 billion-valued company—began trading live on the NYSE last week.

The stock offering made Jumia the first upstart operating in Africa to list on a major global exchange.

This raises expectations for unicorns and IPOs to create the continent’s first wave of startup moguls. But unlike other markets, big public listings and nine-figure valuations could remain rare in Africa.

The rise of venture arms and startup acquisitions will factor more prominently than IPOs in creating Africa’s early startup successes.

I’ll break down why. First, a quick briefer.

Primer on African tech

Not everyone may be aware, but yes, Africa has a booming tech scene. When measured by monetary values, it’s minuscule by Shenzen or Silicon Valley standards.



Source link

Products You May Like

Articles You May Like

Instagram says growth hackers are behind spate of fake Stories views – TechCrunch
Deliveroo is exiting the German market – TechCrunch
Microsoft tweaks privacy policy to admit humans can listen to Skype Translator and Cortana audio – TechCrunch
Twitter leads $100M round in top Indian regional social media platform ShareChat – TechCrunch
Facebook denies making contradictory claims on Cambridge Analytica and other ‘sketchy’ apps – TechCrunch

Leave a Reply

Your email address will not be published. Required fields are marked *