Rocket Internet divulges IPO plans

Rocket Internet divulges IPO plans

German Rocket Internet, known for Zalando among others, has divulged its IPO plans which should generate some 750 million euro and should be ready to launch before the end of the year.

"Next step"

 

“We have built a unique platform that has allowed us to take internet business models to over 100 countries today, bringing basic goods and services to our diverse customer base", CEO Oliver Samwer said in a press release. “Taking our company public is the next step in our journey to build the world’s leading internet platform outside of the United States and China.”

 

Rocket Internet recently revealed it has founded the Global Fashion Group alongside Swedish Kinnevik, bringing together several ecommerce companies. It intends to conquer markets that still have room for expansion, alongside companies like Amazon.

 

The current shareholders will not be selling their shares at the IPO, which means that only a limited amount of shares will be available.

 

Zalando also heading to the stock exchange

 

Zalando had officially its IPO last week and together, these IPO's will be the biggest in Germany, from a technology company, since Deutsche Telekom went public in 2000.

 

Kinnevik, Zalando and Rocket Internet have a long joint history. Zalando was once founded by Rocket Internet, but then decided to sell off all of its shares, while Kinnevik has a 36 % stake in Zalando, alongside its collaboration with Rocket Internet.

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