Rocket Internet Raises $670 Million in Share Sale to Grow

Rocket Internet AG raised almost 590 million euros ($670 million) selling new shares as the startup investor founded by Germany’s Samwer brothers seeks more acquisitions.

Rocket sold 12 million ordinary bearer shares, equivalent to about 7.8 percent of the existing share capital, exclusively to institutional investors, the Berlin-based company said in a statement Friday. The shares were sold for 49 euros apiece. Rocket fell 8.2 percent to 49.42 euros at 9:18 a.m. in Frankfurt.

Rocket raised 1.4 billion euros from an initial public offering in October, making it Germany’s largest in 2014. The company became famous for cloning businesses from shopping website Groupon Inc. to the Airbnb Inc. lodging-reservation service. Earlier this month, Rocket paid 496 million euros for a minority stake in Delivery Hero Holding GmbH, valuing the online food-takeaway service at $1.9 billion.

The raising of funds reaffirms Rocket’s commitment “to become the world’s largest Internet platform outside of the US and China,” Chief Executive Officer Oliver Samwer said in the statement.

Current investors Baillie Gifford & Co. and United Internet AG have agreed to acquire 210 million euros of the new shares.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE