Rocket Internet: Samwer asks at HV to more money – SPIEGEL ONLINE

The Berlin-based start-up Factory Rocket Internet to billions more may obtain on the capital market in order to expand their network of companies. “We plan to continue every year ten new companies to bring to the starting line,” CEO Oliver Samwer said on Tuesday at the first public general meeting in Berlin.

The holding company, which is involved in numerous young internet company, had ventured a much-publicized initial public offering in October. In subsequent weeks, the stock was but crashed and since then fluctuated widely. On the day of the general meeting, the share price fell by more than three percent.

The shareholders have confidence in the management but apparently not lost: you authorized the Executive Board by a large majority, to issue convertible bonds in the 2020 volume of up to two billion euros in the period to June. Such bonds can be converted at maturity into new shares of the company. If and when a capital increase is pending concrete Samwer left open even when asked by shareholders.

Samwer defends costly expansion

Last year the company wrote losses of 46 million euros. Samwer had recently defended the costly expansion. If the company follow the classic German approach, according to which one must be profitable after two years, “then we should not with the Silicon Valley and China to invest,” the CEO said.

known to Rocket holdings include about the online furniture store Home24, the cleaners mediator Helpling and Food Delivery Services Food Panda and Delivery Hero. The latter company is planning even the IPO.

Last Rocket had claims to cash amounting to around 1.3 billion euros. The IPO October 2014 Rocket had taken around 1.5 billion euros. In February, the company 590 million euros in addition worried by the issue of new shares.

Currently, Rocket Internet is involved in about 140 companies, half of which are own-ups. The companies operate in 110 countries and have come together over 30,000 employees, including 9,300 in India and Southeast Asia, South America and 7800 in 5300 in Western Europe.

CEO Samwer reiterated the company’s goal to become the largest Internet platform outside the United States and China. In these markets, one wants to get involved not strong since there is a great competition.