Joom announces new business strategy for 2023

After a strategy planning meeting for 2023, Joom has decided to sell its Russian business to a third-party group of individuals. The new owners will be solely responsible for all of the company's operations in Russia and Belarus.

Starting from 2023, the company will have an operational transition period geared towards adjusting Russian and Belarusian Joom users to the new structure, general rebranding, and agreeing on all necessary procedures for the sale. Users of the Joom app and website will be guided through this process by the company’s support team.

Once the process of sale of the Russian business to the new owners is completed, Joom will continue its operations around the world. The company's mission remains the same – Joom helps consumers save money when shopping online and have access to goods from anywhere in the world.

Joom has offices in Latvia, Berlin, China, Hong Kong, the USA, and Luxembourg. The company’s headquarters are located in Riga, Latvia.

Joom is an international group of eCommerce and fintech companies that was founded in June 2016 in Riga, Latvia. Joom currently includes the following businesses: Joom Marketplace, a platform for shopping from all over the world; Onfy, a pharmaceutical marketplace in Germany; Joompay, a fintech service for daily financial transactions in Europe; Joom Logistics, a business that provides logistics, technology and infrastructure services for cross-border eCommerce; JoomPro, platform for crossborder wholesale trade. Joom has offices in Latvia, China, Hong-Kong, the USA, Germany and Luxembourg.

www.joom-group.com

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