Sunday, August 14, 2022
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Home Business Rocket Internet Seeking a $4 Billion IPO

Rocket Internet Seeking a $4 Billion IPO

by Sam Wakoba
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IMG:Mashable

IMG:Mashable

Berlin-based Rocket Internet GmbH, the world’s largest internet company builder is planning an initial public offering at $4 billion and is working with Berenberg, JPMorgan Chase & Co. and Morgan Stanley to make the Frankfurt IPO a success.

Reportedly with investments in 70 plus companies worldwide such as  Zalando, Just Eat Plc, Candy Crush maker King Digital among others in Africa which are run in partnership with Millicom and MTN and in Asia with Ooredo Telecoms such as Lamudi, Carmudi, Kaymu, Hellofood, Jumia, Jovago, Easy Taxi among others.

According to a report from Bloomberg, Rocket’s ventures have raised over 2 billion euros from investors including   Investment AB Kinnevik among others. uestions however arise on how the firms aim to generate profits as most of them are still operating in losses in  move to gain market share. Others are asking if the IPO is just an exit of Alexander, Marc and Oliver after founding the company in 2007.

Unlike Alibaba, which is also schudelued for an IPO and has profits to show off, some  investors claim the clone giant has the most complicated financial puzzle in the world and most of its compnaies are just “shell companies” or phantom companies copied after successful U.S Internet firms since the sucess of their eBay clone in 1999.

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