Rocket Internet
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Delivery Hero announces plan for a $500M IPO in Germany
Delivery Hero’s much-anticipated IPO is on. Today the European food delivery company officially announced that it plans to raise as much as €450 million ($506 million) from a public listing on the Frankfurt Stock Exchange in “the coming months”. It’s been a busy past year or so for Delivery Hero, and when you look back on its recent happenings and developments… Read More
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Rocket Internet sells 51% of fashion site Namshi to Dubai’s Emaar Malls for $151M
Emaar Malls missed out on a bid to buy Souq when Amazon picked up the Dubai-based online retailer for about $650 million in March. Now, the retailing giant of the Middle East is making another acquisition to step up its game in e-commerce. Today Rocket Internet — the Berlin-based e-commerce incubator — announced that it has sold 51 percent of Namshi, its Middle Eastern Amazon clone… Read More
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Rocket Internet’s Zalora is retreating from two more countries in Asia
Zalora, the Rocket Internet-backed online fashion store, is continuing its retreat from Asia. The firm sold off its businesses in Vietnam and Thailand last year, and now it is withdrawing from the Philippines and Indonesia. Yesterday it transpired that Zalora sold 49 percent of its Philippines-based operations to local real estate firm Ayala, as E27 reported, but it is in the process of… Read More
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Pflegetiger is Rocket Internet’s new home care startup
Rocket Internet, the publicly-listed German company builder and investor, has quietly launched a new startup in Berlin called Pflegetiger (“care tiger”), joining a host of other upstarts entering the huge and potentially lucrative home care services market. Read More
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Rocket Internet closes $1B fund, the largest out of Europe to date
If you thought the problems Rocket Internet has had bringing its portfolio of startups and its business overall into the black would have spelled setbacks for future investing, think again. This week, the firm — based out of Berlin — reported that it had raised a new $1 billion fund, the biggest tech fund of any VC firm to date in Europe, it claims. The Rocket Internet… Read More
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Delivery Hero acquires Foodpanda as Rocket Internet shuffles online takeout pack once again
Rocket Internet has shuffled the online takeout pack of cards once again. This time the publicly listed German “startup factory” and investor is selling Foodpanda to its much larger rival Delivery Hero, of which it also holds a significant stake. Read More
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Rocket Internet’s Foodpanda sells Russian takeout business to Mail.Ru for $100M
Rocket Internet-backed food delivery business Foodpanda is divesting yet more of its international holdings. Today the company announced that it would sell Russian Delivery Club, its operations in Russia, to Mail.Ru Group for $100 million. Foodpanda said the sale would help it “further focus in our core regions”, by way of investing the proceeds in its other operations. It comes… Read More
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With founders out, Rocket-backed Nestpick reboots as apartment rentals aggregator
Its founders, including CEO Fabian Dudek, left the company in May having already lost majority ownership to Rocket Internet, while the pivot sees the company become an aggregator — or meta-search engine — for furnished apartment rentals. Read More
Latest Crunch Report
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Rocket Internet lost $690M in first half of 2016, thanks mainly to its fashion business
Rocket Internet is gearing up for its upcoming results day on September 22 with a warning: its financials aren’t going to be pretty. Read More
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Foodpanda is selling its Indonesia business and rethinking the rest of Southeast Asia
Foodpanda, the food delivery startup backed by Rocket Internet, is selling its operations in Indonesia and evaluating its presence in the rest of Southeast Asia as part of a push towards profitability. Read More
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Rocket Internet’s GFG closes $365M down round as external investors shy away
Global Fashion Group (GFG), the umbrella group that manages Rocket Internet-backed online fashion businesses worldwide, has added €30 million ($33 million) to a €300 million round that it announced back in April. Read More
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Stripe brings its Connect marketplace platform to Europe, Stripe clone Paymill finds a buyer
As the number of apps and sites for buying and selling goods and services continues to grow, we’re seeing a shakeout among the companies that help make those wheels of commerce turn, with the biggest of the lot continuing to scale up and those that have failed to grow getting swallowed up. Stripe, the startup based out of the U.S. that lets online businesses and apps quickly… Read More
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Crunch Network
The fintech world beyond Silicon Valley and Europe: Emerging market contenders
According to a recent study by Accenture, investments in fintech hit $5.3 billion in the first quarter of this year (having grown 75 percent in 2015, exceeding $22 billion). These are staggering figures for a still nascent industry, which can have a monumental impact on all sectors, from lending and investments to savings and payments. Read More
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Crunch Network
How consolidations will play out in the transportation, food and entertainment industries
There has been no shortage of thoughtful articles exploring a bubble in technology. I would argue that the world has already been transformed, and there is no bubble in the purest sense. Instead of massive flameouts that leave everyone burned, I think we are going to see a wave of beneficial consolidation and rationalization in industries that appropriately have seen exceptional venture… Read More
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Rocket Internet’s GFG gets $340M+ at $1.1B valuation, down from $3.5B a year ago
Berlin-based e-commerce incubator Rocket Internet continues to bring in money for its various startups, but things are definitely not looking great for all of its companies. On the heels of Alibaba investing in its Amazon clone Lazada, today the Berlin-based incubator announced that Global Fashion Group, the company’s unprofitable merged fashion businesses, raised €300 million… Read More
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SumUp and Payleven merge as European ‘Square clones’ consolidate
Some consolidation afoot in the world of mobile payments: today Groupon- and BBVA-backed SumUp and Rocket Internet’s Payleven — two of the several European startups that cropped up in the wake of Square with their own smartphone accessories to make debit and credit card transactions — have announced that they are merging, creating a business with 1 million customers in… Read More
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Retail giant Central Group is buying Zalora’s businesses in Thailand and Vietnam
Zalora, the fashion-focused e-commerce site backed by Rocket Internet, is selling its businesses in Thailand and Vietnam to retailer Central Group, according to multiple sources close to the deal. We reported the planned sale earlier this month and have since confirmed that Bangkok-headquartered Central Group is the buyer. The deal is said to be agreed on in principle and currently subject… Read More
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