Bog standard B2C platform company so farm just Africa with German parent co, which is not so bog standard.
"We have historically conducted our business through Africa Internet Holding GmbH"
Raises transfer pricing as well a taxation issues :)
Mission: to improve the quality of everyday life in Africa by leveraging technology to deliver innovative, convenient and affordable online services to consumers, while helping businesses grow as they use our platform to reach and serve consumers.
Gross Merchandise Value (“GMV”) = total value of orders incl. shipping fees, value-added tax, b4 deductions: discounts, vouchers, cancellations/return
Platform Contribution corresponds to the gross profit less non-platform revenue less direct fulfillment
Adjusted EBITDA corresponds to loss for the year, adjusted for income tax expense, finance income, finance costs, depreciation and amortization and further adjusted by share-based payment expense. Adjusted EBITDA provides a basis for comparison of biz defn
Adjusted EBITDA .... by excluding items that we do not believe are indicative of our core operating performance.
Trial lawyer brain: What interesting expenses are they excluding?
Market size is overstated due to logistics hurdles. You mainly have urban consuming markets - India VCs/entrepreuners want to weigh in?
... we believe that e-commerce in Africa is well positioned to grow. In 2018, less than 1% of retail sales for countries measured in our footprint in Africa were conducted online, compared to nearly 24% in China, according to Euromonitor.
Next billion users requires creative approaches.
... a large and diverse group of sellers offer goods in a wide range of categories, ... ... with easy access to ... services, such as restaurant food delivery, hotel and flight booking, classified advertising, airtime recharge and “instant delivery.”
*Note that this is on a 12 month basis. Better metrics would be Most Active Users definition.
We believe...number and quality of sellers on our marketplace...breadth of their respective offerings, attract more consumers...increasing traffic and orders...attracts even more sellers..creating powerful network effects.
Yahoo had all that - but because the search transaction costs were terrible , google WON
In 2018, approximately 90% of the items sold on our marketplace were offered by third-party sellers, while we sold the remaining 10% of items directly in order to enhance consumer experience in key categories and regions.
I remember the kerflafle that Amazon basic created amongst sellers who saw their income drop off.
Revenue didn't quite scale as much EUR 130m (2018), up from EUR 94m (2017)
Net operating losses levelled off.
Consolidated loss increased from €165.4m (2017) to €170.4m (2018)
"On a platform contribution basis, we generated €8.7 million and €14.3 million for 2017 and 2018, respectively."
What dis mean?!
Still don't understand what platform contribution means? What's merchant the fee structure?
I now have nothing but the utmost respect for people that generate twitter and internet content - I honestly don't think I can do it.