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Rocket Internet to launch another 10 start-ups in 2015
[BERLIN] Rocket Internet, the global e-commerce investor, said it expected to launch at least another 10 start-ups in 2015 as it reported strong growth from its existing stable of companies and improving margins.
Rocket Internet, whose shares have had a bumpy ride since their debut last month in Europe's largest tech listing since 2000, said its 12 most successful companies saw average growth in gross merchandise volume of 104 per cent in the first half.
Rocket Internet shares, which have recovered above the offer price of 42.50 euros (US$53.22) after a string of positive broker notes in recent days, were up 1.1 per cent at 48.35 euros at 0829 GMT.
Among the top performers were Russian fashion site Lamoda and Indian online store Jabong, which saw first-half revenue grow 112 per cent and 187 per cent respectively. Its furniture sites Home24 and Westwing reported first-half revenues of 59 million euros and 76 million respectively.
Overall, the 12 companies, while still-loss-making, saw an average rise of 12 percentage points in the margin on their average earnings before interest, taxation, depreciation and amortisation (EBITDA).
Founded in 2007 by brothers Oliver, Alexander and Marc Samwer, Rocket is active in more than 100 countries, making revenue of US$1 billion in 2013 via e-commerce and online marketplaces for everything from taxis to meal deliveries.
It expects to launch another three companies in 2014, bringing the total for the year to 10, and then start at least another 10 start-ups in 2015.