German start-up investor Rocket Internet did surprisingly well in the first half of the year. For the first time, profits rose above half a billion euros.
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Rocket Internet is going to sell its complete remaining stake in HelloFresh. Earlier this year, the Germans had already sold a part of the meal box delivery company.
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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.
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.
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.
Global Fashion Group, the fashion group founded by investment group Kinnevik and Rocket Internet, managed to lower its losses even more in the second quarter. On top of that, turnover grew more than 25 %.
Both Kinnevik and Rocket Internet have sold their final shares in Asian Lazada to Chinese Alibaba, which adds another 12.4 % of Lazada’s shares to its previous stake in the company.
Swedish investment group Kinnevik has decided to pull out of German incubator Rocket Internet entirely, selling off its 6.6 % stake.
German incubator Rocket Internet’s most important companies have continued their turnover growth in 2016. Losses were also lowered and Rocket Internet says it is well on its way to become profitable soon.
In the first half of its fiscal year 2016, HelloFresh managed to more than double its turnover compared to the year before, but on the other hand, its losses also doubled.
Rocket Internet, the internet group founded by the German Samwer brothers, has posted more than disappointing results over the past six months: the company losses surpassed 500 million euro.
Rocket Internet, the German start-up incubator and owner of Zalando, has suffered a huge loss in the first half of 2016. The valuation of its fashion start-ups fell sharply, from 3 to 1 billion euro.
Looking at Rocket Internet's 12 most important online sellers, their first quarter revenue grew 34 %, helping lower losses 23 %. Nevertheless, investors punished investment firm Rocket Internet, sending its share down 5 %.
Africa Internet Group CEO, Jeremy Hodara, believes only online retail will be able to meet Africa's increased demand, obviously seeing a lot of opportunities for his own company, which is currently active in 26 African countries.
German investment fund Rocket Internet's different companies have all been onerous in 2015, but CEO Oliver Samwer says all of the group's start-ups are still on course.
Chinese Alibaba paid almost 880 million euro to get a majority stake in Lazada, the fastest growing online department store in Southeast Asia founded by Rocket Internet.