German investment group Rocket Internet has brought yet another one of its ventures to the stock exchange. Following Zalando, HelloFresh and Delivery Hero, it was online furniture store Home24's turn to raise investments for growth acceleration this way.
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Rocket Internet wants to go public with its furniture web shop Home24 in the summer. During the next few months, it will work tirelessly to improve the web shop’s results.
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German incubator Rocket Internet may not be out of the red yet, but it has significantly reduced its deficit, courtesy in part of meal delivery service Delivery Hero's IPO.
German furniture web shop Home24 plans to open its first physical outlet store in Berlin on 23 April. It will use the novelty to sell furniture it can no longer sell online, like items with small flaws.
Online furniture store Home24 's turnover grew nearly 50 % last year, according to numbers revealed by shareholder Kinnevik. However, despite the increased turnover, the web shop's losses also grew.
Rocket Internet, Kinnevik and Holtzbrinck Ventures have invested another 20 million euro into online furniture seller Home24. Its current CEO, Domenico Cipolla, will be replaced by a duo.