Rocket Internet is now Valued at $8.4 Billion
Michael Erlangga - 6 October 2014
Rocket Internet has encouraged its competitors to push to their limit after reaching one of the biggest milestones in the startup world history. This tech startup giant has just gone IPO and got a value of $8,4 billion or Rp 102 trillion. By this October, Rocket Internet will enter the Entry Standard of the Frankfurt Stock Exchange, Germany, using RKET as its ticker code.
Furthermore, according to Tech.eu, the German-based startup‘s newly published shares of may exceed the expected value, which is 24 percent of the total shares capital. This has been confirmed by the Rocket Internet itself through a statement which said that the offers they receive is ten times higher than the previous peak (Rp 544 thousands to Rp 650 thousands per entity).
This IPO becomes the latest story of the Samwer bros (Oliver, Marc, and Alexander) who collectively own the Rocket Internet (65 %) through an investment company. The three of them have previously sold their popular Internet-based businesses on eBay, Groupon, and many others. Currently, the Samwer brothers have reportedly collected a big sum of profit (the New York Times reported that they have nearly Rp 790 billion in their pocket).
This IPO has enabled the Rocket Company to plan further development for its business, such as launching new businesses and funding a number of companies. In Indonesia, the startup is well-known for its involvement in many popular projects, including Zalora, Lazada, Lamudi, Carmudi, and Foodpanda. Its role in developing the not-popular-yet Wimdu project has also been anticipated by many.
Besides supporting the growth of its established products, we also predict that the massive revenue that Rocket Internet gets will also be allocated to the development of the Global Fashion E-Commerce Group (GFG) project. The project itself, which holds the unification of five global e-commerce platforms (including Zalora) as its main theme, is expected to rule the world’s fashion e-commerce industry in the future.