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Joom

Topic: Finance

 From HandWiki - Reading time: 3 min

Joom is an international group of e-commerce and fintech companies founded in June 2016 in Riga, Latvia. It also has offices in China , Hong-Kong, the United States , Germany , Luxembourg and Russia .[1][2] It currently includes five different businesses. Joom Marketplace is a e-commerce platform and mobile app that sells products from Asia and Europe. The platform is known to be mobile-first with around 83% of transactions being made on mobile.[3]

The company ranks second (after the AliExpress) place among Russian Internet companies delivering goods from China ,[4] and the fourth (both on the App Store and in Google Play) among applications for buying goods in Russia .[5]

Since mid-2017, it has been presented in Europe that makes up to 50% of its GMV.[6]

By the end of 2020, shopping app Joom got 150 million downloads in the European region.[7] As at the beginning of 2022, Joom has over 400 million users worldwide across iOS, Android, and Web.[8] The marketplace has 25 million monthly active users and 20 million active buyers.[9]

In 2021, Joom joined the Product Safety Pledge initiative — an agreement to cooperate with the EU Member States to remove dangerous products from its websites[10]. 


Joom Logistics is the Group’s business providing logistics, technology and infrastructure services for cross border e-commerce. It has its own logistics hubs in Shenzhen and Hong Kong and a wide partner network to assure delivery services in 160 countries. [11]


Joompay is a fintech service for daily financial transactions in Europe. [12] It obtained its license in November 2020 in Luxembourg.[13]


Joom also owns Joom Pro, a platform for cross border wholesale trade,[14] and Onfy, a pharmaceutical marketplace launched in 2022 and available for customers in Germany.

References

  1. ↑ "Digital shopping app JOOM targets France in challenge to Amazon" (in en). Reuters. 2019-02-21. https://www.reuters.com/article/us-joom-france-expansion-idUSKCN1QA2RL. 
  2. ↑ "Joompay launches its bill-splitting payment app across Europe to take on TransferWise and others" (in en-US). https://social.techcrunch.com/2021/02/04/joompay-launches-its-bill-splitting-payment-app-across-europe-to-take-on-transferwise-and-others/. 
  3. ↑ "Joom, Wish, SheIn, des plateformes de commerce qui titillent Amazon" (in fr-FR). 2019-03-07. https://www.capital.fr/entreprises-marches/joom-wish-shein-des-plateformes-de-commerce-qui-titillent-amazon-1330490. 
  4. ↑ Александра Посыпкина (2018-10-22). "AliExpress впервые раскрыл количество покупателей из России". РБК. https://www.rbc.ru/technology_and_media/22/10/2018/5bcc74a89a7947e052d7afac. Retrieved 2018-10-22. 
  5. ↑ Ирина Ли, Мария Коломыченко, Анастасия Демидова (2017-12-01). "Экс-глава «Одноклассников» оказался основателем маркетплейса Joom". РБК. https://www.rbc.ru/technology_and_media/01/12/2017/5a1fff739a79474bcc57419e. Retrieved 2018-10-22. 
  6. ↑ "Digital shopping app JOOM targets France in challenge to Amazon" (in en-GB). 2019-02-22. https://www.reuters.com/article/us-joom-france-expansion-idUSKCN1QA2RL. 
  7. ↑ "Looking to emulate Venmo, JoomPay preps a Euro launch for easy bill splitting and cash payments" (in en-US). 2020-11-24. https://techcrunch.com/2020/11/24/looking-to-emulate-venmo-joompay-preps-a-euro-launch-for-easy-bill-splitting-and-cash-payments/. 
  8. ↑ "Labs of Latvia" (in lv). http://labsoflatvia.com/en/news/social-e-commerce-platform-with-over-25-million-active-users. 
  9. ↑ "Comment l'app russe Joom compte devenir le numéro 2 de l'e-commerce en Europe" (in fr-FR). 2019-02-21. https://www.lsa-conso.fr/comment-l-app-russe-joom-compte-devenir-le-numero-2-de-l-e-commerce-en-europe,311536. 
  10. ↑ "Protecting European consumers: Safety Gate efficiently helps take dangerous COVID-19 products off the market" (in en-GB). 2021-03-02. https://ec.europa.eu/commission/presscorner/detail/en/ip_21_814. 
  11. ↑ "Joom compte sur sa logistique pour challenger Amazon" (in fr). https://www.lsa-conso.fr/joom-compte-sur-sa-logistique-pour-challenger-amazon,373618. 
  12. ↑ "Joompay launches its bill-splitting payment app across Europe to take on TransferWise and others" (in en-US). https://social.techcrunch.com/2021/02/04/joompay-launches-its-bill-splitting-payment-app-across-europe-to-take-on-transferwise-and-others/. 
  13. ↑ "Shopping app Joom secures e-money licence". 2020-11-24. https://www.finextra.com/newsarticle/37004/shopping-app-joom-secures-e-money-licence. 
  14. ↑ "Китай предложат оптом" (in ru). 2021-05-17. https://www.kommersant.ru/doc/4815533. 

External links



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