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All posts tagged "Rocket Internet"

  • Failure to launch: Germany’s Rocket Internet goes public, shares drop 14%

    Massive German startup factory Rocket Internet went public today and reactions haven't exactly been enthusiastic. Shortly after its shares first started trading, the company's valuation dropped a massive 14%. This being one of Europe's biggest IPOs in over a decade, it might spell worry for the German tech scene. As reported by Reuters, Rocket Internet's stock opened at €42.50, and immediately fell to €38.00 when it started trading. It then started a steady climb to €41.40. How to ruin the remnants of #Germany's equity culture. Rocket Internet drops on it's first trading up to 14%. pic.twitter.com/qIav9U9Zp6— Holger Zschaepitz (@Schuldensuehner) October...

  • Rocket Internet woes continue with mass Nigerian layoffs

    Looks like things aren't exactly rosy at ecommerce cloning giant Rocket Internet at the moment. A couple of weeks ago, he company revealed that it was scuppering its Chinese operations. Now it's downsizing in Nigeria. Rocket Internet only launched its Nigerian presence a couple of months ago, but is reportedly already downsizing its staff in the country. According to tech news site Techloy, the company fired 50 members of staff, mostly from...

  • Rocket Internet launches second Nigerian site

    When Rocket Internet launched its Nigerian Amazon clone, it was always just going to be a matter of time before it launched another site in the country. The German-based startup incubator's latest ecommerce property is called Sabunta -- a shoe and fashion site that runs along the same model as Zando in South Africa, Zalando in Germany and the UK, Locondo in Japan, The Iconic in Australia, and Zalora in Singapore. Perhaps conscious of the fact that a large portion of its customers probably won't own credit cards, Sabunta allows its customers to make payments either via EFT or...

  • Rocket Internet’s Nigerian Amazon clone blasts off

    German cloning giant Rocket Internet has officially launched Kasuwa, its Nigerian Amazon-style ecommerce site. The company made its first big forays onto the continent with a number of properties in South Africa. These include a stake in Groupon, shoe and clothing site Zando, and make up testing service Glossybox. Prior to the launch, Nigerian tech blogs had speculated on what kind of site Rocket Internet might launch in the country. Techloy were right in the end, punting for an ecommerce site selling DVDs, books, and consumer electronics. Technesstivity meanwhile said that the company was launching an online clothing store. While...

  • Rocket Internet wants 5rooms to own SA furniture market

    We've mentioned online furniture sales outfit 5rooms previously. It's part of German startup incubator Rocket Internet's stable of South African ecommerce sites, but it hasn't had the same kind of exposure as the likes of shoe and fashion outlet Zando. That all looks set to change. Memeburn got its hands on site's pitch book, which claims that the company was "established to become the market leader among South African furniture retailers". It claims that its position within the Rocket Internet network, which comprises over 38 companies operating in 58 countries, will help it achieve this goal. Having several hundred million Euros...

  • Zando: The Germans are here

    Zando has hit the African continent. The ecommerce outfit has been building a presence in South Africa for the last three months. The local stores in the country, like the Naspers-owned Kalahari and the newly relaunched Takealot are about to get some serious competition. Zando is an online shoe and fashion retail outlet that apes the model pioneered by US-based company Zappos and it's been making serious waves with a massive advertising campaign in print, online, and radio. The company is owned by Rocket Internet, which lays claim a global ecommerce empire -- GigaOM estimates...

  • Rocket Internet to launch Nigerian Amazon clone [Report]

    German-based cloning giant Rocket Internet is set to open up an Amazon-style ecommerce site in Nigeria. The company made its first big forays onto the continent with a number of properties in South Africa. These include a stake in Groupon, shoe and clothing site Zando, and make up testing service Glossybox. Nigerian tech site Techloy claims a reliable source confirmed that the new ecommerce property would sell books, DVDs and electronics along...

  • Rocket Internet to launch price-comparison clone across SE Asia

    Rocket Internet is set to launch a price comparison site in South East Asia called PricePanda. The German-headquartered startup incubator has made something of a global empire for itself from cloning successful ecommerce business models. In fact, a recent article from GigaOm pegged the number of companies owned by Rocket Internet at around 38, operating in 58 countries. As is the case with most competing sites, PricePanda will allow people to see...