Jumia, Africa’s largest e-commerce company, made history on Friday as the first African tech startup to list on the New York Stock Exchange.

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Known as the “Amazon of Africa”, Jumia opened at $18.95 on an initial listing price of $14.50. The stock soared more than 60 percent in its first few hours of trading – outperforming both Lyft and Levi Strauss in their debuts this year.      

“We operate on a big continent where e-commerce is very relevant,” Sacha Poignonnec, Jumia’s co-CEO, said during an interview with FOX Business’ Gerri Willis. “Our investors see the potential in Africa, in our business model and in our execution.”