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Posts Tagged ‘ Rocket Internet ’

Swedish investor Kinnevik to sell half its stake in Rocket Internet

Thursday, February 23, 2017 | More »

Kinnevik
Swedish investment firm Kinnevik AB is selling nearly half of its 13% stake in German Internet conglomerate and incubator Rocket Internet SE. It plans to sell nearly 10.9 million shares, representing 6.6% of Rocket Internet’s issued share capital, to institutional investors at €19.25 per share, ...

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China launches $14.6 bn investment fund to support internet companies

China has launched an investment fund worth 100 billion yuan ($14.6 billion) to support internet firms, state-run Xinhua news agency reported. The fund has already raised around 30 billion yuan from state-owned banks and companies out of which 10 billion yuan has been invested by the Industrial and ...

23 January, 2017 | More »

Foodpanda

Rocket Internet-backed companies Delivery Hero & Foodpanda merge businesses

Delivery Hero Holding GmbH, which runs Delivery Hero, has announced the acquisition of Rocket Internet’s entire global operations of food delivery startup Foodpanda. The acquisition brings together two top food delivery startups based in Germany. After this acquisition, the combined group is expec...

10 December, 2016 | More »

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Foodpanda India loss quadruples, revenue shoots up

Rocket Internet-backed food delivery firm Foodpanda India said on Friday its loss widened in 2015-16 but that it is working to achieve profitability. Loss for the financial year ended March 2016 quadrupled to Rs 142.6 crore from Rs 36 crore the year before, the food-tech firm said in a statement. Re...

9 December, 2016 | More »

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Myntra targets $2 bn revenue run rate, profitability in FY18

Flipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has...

1 December, 2016 | More »

Foodpanda Sunny Leone

Foodpanda turns to Sunny Leone for a social media push

Germany’s Rocket Internet-backed food delivery service Foodpanda India announced on Tuesday that actress Sunny Leone will be part of their digital marketing campaign. The company said in a press statement that, “the campaign would target the consumers through various social platforms such as Sna...

30 November, 2016 | More »

Rocket_internet

Rocket Internet admits trusting everyone in India was a mistake

Rocket Internet, the German internet venture builder, may have made certain miscalculations “in putting trust in everyone” while doing business in India, said a senior global executive while speaking at a startup event in Bangalore on Thursday. Rocket Internet – which operates on a venture bui...

20 October, 2016 | More »

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Exclusive: Myntra brings Jabong’s tech team under own roof

Flipkart-owned fashion e-tailer Myntra has moved the research and development team of Jabong in Bengaluru to its own facility, less than two months after it acquired the lifestyle and apparel shopping portal. Both R&D teams will continue to work separately for now but any integration in the futu...

23 September, 2016 | More »

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Rocket Internet sees “sluggish” growth in India

German e-commerce investor Rocket Internet AG, which this year sold Indian portfolio firms Jabong and FabFurnish, expects weak investment recovery from the South Asian country. “In India, economic activity remains buoyant, but the growth forecast for 2016 and 2017 was trimmed slightly, reflecting ...

23 September, 2016 | More »

Pepperfy3

Furniture e-tailer Pepperfry gets $31 mn from existing investors

Furniture e-tailer Pepperfry has raised Rs 210 crore ($31.3 million) from existing investors including Goldman Sachs Group Inc., as it looks to expand its network and open more offline outlets to better compete with rivals. Zodius Technology Fund, Norwest Venture Partners and Bertelsmann India Inves...

21 September, 2016 | More »

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