Amazon removes hundreds of toxic and unsafe products after news report

Wall Street Journal found that more than 4,000 items for sale on Amazon have been declared unsafe by federal agencies Amazon has removed hundreds of toxic and unsafe products from its site after a Wall Street Journal report found thousands of listings from third-party sellers dont comply with federal safety standards. Thousands of problematic products remain. More than 4,000 items for sale on Amazon have been declared unsafe by federal agencies, including 2,000 listings for childrens toys and medications. The Journal also identified 157 items Amazon had already banned still listed on the site, and one product it tested had lead levels that exceed federal limits. In light of the report, Amazon has reworded or taken down 57% of the …

Africa Roundup: Jumias post-IPO earnings, Gokadas $5.3M raise, Facebooks fake-news purge, Joe Montanas fintech investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value (GMV) — the total amount of goods sold over the period — grew by 58% to €240 million. Marketplace revenue grew 102% to €16 million, and gross profits as a percentage of GMV grew by 6.5% in Q1 2019. Overall, Jumia’s operating losses for the period widened to €45.4 million from €34.3, and negative EBITDA increased to €39.5 million from €30.2. So the startup’s still losing money — see the big losses reported in the IPO filing — but is improving its ability to earn. …