RKET -7.39% : *DJ Rocket Internet, Kinnevik are Key Shareholders of Global Fashion Group, Valuation of Global Fashion Group Drops Sharply
BERLIN--Rocket Internet SE said it would inject additional cash in online retailer Global Fashion Group at a sharply reduced valuation, highlighting uncertainty about the value of tech startups in recent months.
Global Fashion Group will be worth 1.0 billion euros ($1.13 billion) after a EUR300 million capital increase, Rocket Internet said. In August last year, Global Fashion Group had been valued at EUR3.04 billion.