Jumia and a range of other startups under the Rocket Internet SE– a European Internet company headquartered in Berlin, has generated $605 million in profit from their IPOs for Rocket Internet. A large portion of the funds was generated by Jumia when it went public in April 2019.
Jumia, Africa’s biggest eCommerce store debuted on the New York Stock Exchange at a share price of $14.50. The company’s aim during the IPO was to raise $245.7 million. Although there were controversies around the IPO, Jumia still made good profits.
After Jumia’s IPO came other Rocket’s Investments. Like fashion site, Global Fashion Group SA, listed in Frankfurt, Germany in July 2019. Before the 2019 lists, Westwing Group AG and Home24 SE, also part of Rocket Internet investment, listed in 2018.
In his words; “We continue to pursue our core strategy of operationally developing new business models in the tech space.”
Oliver Samwer had earlier revealed interest in fintech, software, artificial intelligence, and online marketplaces. The current profit puts Rocket Internet SE in a position to carry out its plans.
Source: techgistafrica
