Rocket has helped create a buzzing tech scene in Berlin by launching dozens of businesses from fashion e-commerce to food delivery, but has seen its stock halve since it listed in 2014.
BERLIN/STOCKHOLM: Swedish investor Kinnevik has sold its remaining stake in German e-commerce company Rocket Internet for more than €200mil (RM956mil), capitalising on a recent rally in the stock fuelled by plans to list two of its startups.
Founded in 2007, Rocket has helped create a buzzing tech scene in Berlin by launching dozens of businesses from fashion e-commerce to food delivery, but has seen its stock halve since it listed in 2014 as valuations fell for its loss-making start-ups and plans for flotations stalled.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
