Loading...

Jabong backer Rocket Internet eyes IPO with $4B valuation

Loading...

Rocket-InternetGerman e-commerce incubator-cum-investor Rocket Internet is planning an initial public offering (IPO) at $4 billion valuation, said a report in Bloomberg quoting unnamed sources.

The incubator is working with Berenberg, JPMorgan Chase & Co. and Morgan Stanley on a share sale that's planned for Frankfurt later this year, the report added.

Founded in 2007 by the Samwer brothers (Marc, Oliver and Alexander), Rocket Internet is of the largest internet incubators in the world. It has created over 100 companies in over 50 countries, dozens of which have been exited successfully.

Loading...

The firm is headquartered in Berlin, and operates a network of 25 international Rocket offices, covering all relevant developed and emerging markets. Its primary focus is on building proven, transaction-based business models in the online and mobile space.

Rocket Internet already has a sizable presence in Asia, including India. Its Indian ventures include Jabong.com, CupoNation, FabFurnish, Foodpanda, PrintVenue, OfficeYes and 21Diamonds.

Last July, Rocket Internet had raised $500 million in a fresh round of funding led by Investment AB Kinnevik and Access Industries.

Loading...

In April this year, Doha-headquartered telecom provider Ooredoo (erstwhile Qatar Telecom or QTel) formed a 50-50 joint venture (JV) with Rocket Internet to create and develop businesses across online retail, marketplaces and payment services in Asia.

(Edited by Joby Puthuparampil Johnson)


Sign up for Newsletter

Select your Newsletter frequency