Rocket Internet

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Rocket Internet AG
Public
Traded as FWBRKET
Industry Internet
Founded 2007
Berlin, Germany[1]
Founders Alexander Samwer, Marc Samwer, Oliver Samwer
Headquarters Berlin, Germany
Area served
Worldwide
Key people
Oliver Samwer (CEO)
Peter Kimpel (CFO)
Alexander Kudlich (Group Managing Director)[2]
Number of employees
300+
Website www.rocket-internet.com


Rocket Internet AG is a German Internet company headquartered in Berlin. The company builds online startups and owns shareholdings in various Internet companies, including Dafiti, Foodpanda/Hellofood, Home24, Jabong, Jumia, Lamoda, Lazada, Linio, Namshi, Westwing and Zalora.[3] Rocket Internet was founded in Berlin in 2007 by three brothers Marc, Oliver and Alexander Samwer. Rocket Internet’s various companies employ more than 25,000 people in over 100 countries across five continents.[4]

Business model[edit]

In its own words, Rocket Internet "identifies proven Internet business models and transfers them to new, underserved or untapped markets where it seeks to scale them into market-leading online companies".[5] In 2013, Rocket Internet raised[6] close to $2 billion from investors including Russian billionaire Leonard Blavatnik, Swedish investment firm Kinnevik, and J.P. Morgan. This is in addition to nearly $2 billion that Rocket raised in 2012.[7] The firm is known for its aggressive approach in managing its invested companies, often referred to as "blitzkrieg". [8]

Rocket Internet acts as an Internet platform, providing the co-founders of new companies with a core infrastructure. This includes office space at the company’s headquarters in Berlin as well as support in various operational areas such as IT, product development, HR, PR and marketing, legal services and financing. According to Rocket Internet, the launch process for its companies takes under 100 days, with the company striving to establish local support teams in international locations in the following 100 days.[9] Previous companies include, for example, CityDeal, which was purchased by Groupon for US$126M.[10][11]

Holding structure and IPO[edit]

On July 1, 2014, Rocket Internet changed its legal form from a GmbH (private limited company) to an AG (public limited company). The initial public offering took place on October 2, 2014 at Frankfurt Stock Exchange. The company is listed in the Entry Standard. At present, Global Founders holds 41% in Rocket Internet, Kinnevik 14.2%, United Internet 8.2%, Philippine Long Distance Telephone Company 6.6% and Access Industries 6.5%. Holtzbrinck Ventures, the venture capital subsidiary of Georg von Holtzbrinck Publishing Group, converted its existing shares in seven Rocket Internet companies into a direct investment of currently 2.0% in Rocket Internet. In addition, cornerstone investors currently hold shares amounting to 9.8%; 11.8% is held in free float.[12]

Internationalization[edit]

According to the company, Rocket Internet is focused on the development of international markets outside the US and China.[13] The company has operations in a large number of locations around the world. Its global network of companies includes for example Jabong (India), Lamoda (Russia), ZALORA (South East Asia), The Iconic and Zanui (Australia) as well as Jumia (African countries). Rocket’s “Regional Internet Groups” include the Africa Internet Group (AIG), the Asia Pacific Internet Group (APACIG), the Latin America Internet Group (LIG) as well as the Middle East Internet Group (MEIG).[14] The “Regional Internet Groups” are joint ventures with regional telecommunications companies such as MTN, Millicom and Ooredoo seeking to accelerate the regional rollout of the companies in specific regions.

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