">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 17, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Startups

Rocket Internet Sells 10.7% Stake to United Internet for $582 Million

Sam Wakoba by Sam Wakoba
6 years ago
in Startups
6 min read
0

Related posts

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
work from home kenya

OZÉ Raises $700k To Digitize African MSMEs & Offer Them Affordable Capital

January 14, 2021
0

rocket-internet-logo

Seems like dream come true for 2007 founded Internet company builder Rocket Internet which has sold a 10.7% stake for $582 million to United Internet .

United Internet’s investment consists of €333 million in cash and €102 million represented by United Internet’s equity participation in the portfolio of Global Founders Capital funds (“Global Founders Capital”).

The $582 or €435 million for a 10.7% stake in Rocket Internet comes just days after the firm raised $445 million from the Philippines Long Distance Telephone (PLDT ) which saw the firm worth $4.45 billion. This round will increase the Berlin based company’s value by $1 Billion to $5.7 billion.
According to Oliver Samwer, co-founder and CEO of Rocket Internet,“Rocket and United Internet share a long-term approach to value creation from the growth of Internet services. We are very pleased to receive this vote of confidence in our ability to generate value from one of Europe’s most successful Internet entrepreneurs and companies. We look forward to deploying the fresh capital to grow our platform and businesses around the world, and are pleased to be gaining stakes in certain businesses that are well aligned with our focus sectors and geographies.

Global Founders Fund and United Internet have been partners for seven years and have led joint investments in consumer Internet and technology businesses through Global Founders Capital. The latest deal brings the total funds raised and the Global Founders Capital portfolio to €588 million, implying a €4.3 billion post-transaction valuation for Rocket.

READ  Carmudi Nigeria Hosting Car Dealers Forum

United Internet’s investment will be in newly issued shares by Rocket, of the same class and bearing the same rights as shares held by current Rocket investors and Ralph Dommermuth, founder and CEO of United Internet, will become a member of Rocket’s nine-person Supervisory Board.Dommermuth said,“We’ve partnered with Oliver Samwer for several years and jointly made a number of highly successful early stage investments in consumer internet and technology businesses in Germany and internationally. I have been very impressed by the quality and scale of Rocket and its network of companies and we are excited to support the further development of the group with additional growth capital. Our investment is strategic and long-term in nature and we look forward to working with the Rocket team and the other shareholders going forward.”

Following this investment, in addition to United Internet (10.7%), shares in Rocket will be held by Investment AB Kinnevik (18.5%), Access Industries (8.5%), Philippine Long Distance Telephone Company (8.6%) and the Global Founders Fund (53.7%).

United Internet runs internet services compnanies such as 1&1, GMX, WEB.DE, united-domains, Fasthosts, arsys, InterNetX, Sedo and affilinet and has over 6,700 employees.

Rocket Internet’s, MTN’s and Millcom’s Africa Internet Holding (AIH) runs Jumia, Lamudi, EasyTaxi, Kaymu, Hellofood, Lendo, Jovago among others in Africa.

 

Readers 1,389

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: HelloffodJumiaKaymuLamudiMTNRocket Internet
Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

Entrepreneurship

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0
Startups

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
work from home kenya
Startups

OZÉ Raises $700k To Digitize African MSMEs & Offer Them Affordable Capital

January 14, 2021
0
Startups

France’s OTT platform Molotov expands into 7 African countries

January 14, 2021
0
Startups

Gro Intelligence Raises $85 Million in Series B Funding

January 13, 2021
0
alternative energy building clouds energy
Startups

West Africa’s Daystar Power raises $38 million to accelerate its regional expansion

January 13, 2021
0
Startups

UK & Egypt’s Docspert Health Raises Six-Figure Seed to expand its Telemedicine Platform

January 13, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

A salesman checks a customer's iPhone at a mobile phone store in New Delhi, India, July 27, 2016. REUTERS/Adnan Abidi

How To Measure How Much You Walk On Your iPhone

January 17, 2021

How To Scan and Sign Documents Directly From Your iPhone

January 17, 2021

realme to release more phones in 2021 to grow its smartphone market share

January 16, 2021

What You Need To Know To Manage Your Network Effectively

January 16, 2021

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: