Skip to content
Subscriber Only

Rocket Internet Gets Boost as Its Coupon Startup Has Profit

  • Global Savings Group doubles gross merchandise value in 2016
  • Rocket-backed startup seeks further growth, is open to M&A
Global Savings links shoppers with free coupons and discounts for about 20,000 online retailers such as Amazon.com Inc., Zalando SE and Asos Plc.

Global Savings links shoppers with free coupons and discounts for about 20,000 online retailers such as Amazon.com Inc., Zalando SE and Asos Plc.

Updated on

Rocket Internet SE-backed e-commerce coupon business Global Savings Group became profitable for the first time, a boon for the Berlin-based startup factory that’s been under pressure to prove it can turn its units into money-making machines.

Global Savings, about 40 percent owned by Rocket, said Thursday its gross merchandise value, a measure for sales it generates for retailers, about doubled to 463 million euros ($546 million) in 2016, helping it earn a profit. The Munich-based company, which declined to give exact profit numbers, expects to grow “significantly” this year, Managing Director Andreas Fruth said.