Co-founder of Jumia, Tunde Kehinde. Photo: Pius Utomi Ekpei/AFP/Getty Images

Jumia, a pan-African e-commerce platform, filed for an IPO that would see it trade on the NYSE (JMIA) with Morgan Stanley as lead underwriter. The filing is for $100 million, but Renaissance Capital estimates that it may seek to raise five times that amount.

Why it matters: Jumia is considered to be Africa's first tech unicorn, even though it was founded by two Frenchmen and is headquartered in Germany. And, like so many U.S. unicorns, it has massive losses without a visible road to profitability.

  • Major shareholders include Rocket Internet, with a 20.6% pre-IPO stake.

The bottom line: "Jumia's move to go public comes as several notable consumer digital sales startups have faltered in Nigeria — Africa's most populous nation, largest economy and unofficial bellwether for e-commerce startup development on the continent," writes Jake Bright, TechCrunch

Go deeper: More backstory on Jumia's launch and initial investors

Go deeper

Coronavirus squeezes the "sandwich generation"

Illustration: Eniola Odetunde/Axios

As the coronavirus poses risks and concerns for the youngest and oldest Americans, the generations in the middle are buckling under the increasing strain of having to take care of both.

Why it matters: People that make up the so-called sandwich generations are typically in their 30s, 40s and 50s, and in their prime working years. The increasing family and financial pressures on these workers means complications for employers, too.

Why Scranton matters again in 2020

Biden and Clinton visit Biden's childhood home in Scranton in 2016. Photo: Melina Mara/The Washington Post via Getty Images

The hometown of Joe Biden and "The Office" is polishing its perennial status as a guidepost for the nation's political mood.

Driving the news: Biden returns to Scranton, Pa., today with a campaign stop just outside the city limits at a metalworking plant, where he'll deliver remarks on a plan to create jobs and "help America build back better."

Updated 20 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 5 a.m. ET: 12,051,561 — Total deaths: 549,735 — Total recoveries — 6,598,230Map.
  2. U.S.: Total confirmed cases as of 5 a.m. ET: 3,055,144 — Total deaths: 132,309 — Total recoveries: 953,420 — Total tested: 37,532,612Map.
  3. 2020: Houston mayor cancels Texas Republican convention.
  4. Public health: Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  5. Travel: United warns employees it may furlough 45% of U.S. workforce How the pandemic changed mobility habits, by state.
  6. Education: New York City schools will not fully reopen in fallHarvard and MIT sue Trump administration over rule barring foreign students from online classes.