Samwers’ Rocket Internet Said to Seek $4 Billion Value in IPO
2014-05-30 19:01:26.289 GMT
By Ruth David, Matthew Campbell and Aaron Kirchfeld
May 30 (Bloomberg) -- Rocket Internet GmbH, the online
startup investor founded by Germany’s Samwer brothers, is
planning an initial public offering that may value the company
at more than 3 billion euros ($4 billion), according to two
people familiar with the situation.
Rocket is working with Berenberg, JPMorgan Chase & Co. and
Morgan Stanley on a share sale that’s planned for Frankfurt
later this year, the people said, asking not to be identified
discussing a private matter. Berlin-based Rocket, which calls
itself the world’s largest Internet incubator, has investments
in more than 75 companies including online retailer Zalando SE.
Food-delivery startup Just Eat Plc and King Digital
Entertainment Plc, the creator of Candy Crush games, are among
companies that have gone public this year, even as investors are
cautious about how new businesses will generate profits. The
STOXX 600 Technology Index has fallen this year in an otherwise
rising market.
Rocket and its ventures have received over 2 billion euros
in external funding, according to Swedish holding company
Investment AB Kinnevik. The Samwer brothers, Alexander, Marc and
Oliver, founded Rocket in 2007.
“We focus on what’s best for the company and that is
concentrating on our operations, in order to build a business
for the long-term,” said Andreas Winiarski, a spokesman for
Rocket. He declined to comment on a possible IPO.
Representatives at JPMorgan and Morgan Stanley declined to
comment. A Berenberg spokesman couldn’t immediately be reached
for comment.
Cloning Capital
The Samwer brothers have a model of finding a promising
Internet business in the U.S. and cloning it internationally.
Since starting their first so-called dot-clone in 1999, a German
version of EBay Inc., they’ve duplicated sites such as those of
Airbnb Inc., EHarmony Inc. and Pinterest Inc. Zalando, a
Zappos.com Inc. clone, is also planning an IPO this year, people
familiar with the matter say.
Rocket starts companies, hires staff and provides
marketing, design and management know-how until the fledgling
company can fend for itself.
Known for putting Berlin’s startup scene on the map, the
Samwers are also credited for sticking Germany with a reputation
as the copycat capital of Europe. If both Zalando and Rocket go
public this year, they will also revive IPO activity from
Berlin, which hasn’t seen a sizable technology sale since
Hypoport AG in 2007, data compiled by Bloomberg show.
For Related News and Information:
Samwer Brothers Build Startup Scene With Clones of EBay to Fab
NSN M06K520D9L35 <GO>
Top Stories: WTOP<GO>
Top Deal Stories: DTOP<GO>
Bloomberg Industries: BI <GO>
Economic Statistics: ECST <GO>
--With assistance from Christopher Spillane in Johannesburg and
Niklas Magnusson in Stockholm.
To contact the reporters on this story:
Ruth David in London at +44-20-3525-8095 or
rdavid9@bloomberg.net;
Matthew Campbell in London at +44-20-3525-8684 or
mcampbell39@bloomberg.net;
Aaron Kirchfeld in London at +44-20-3525-8830 or
akirchfeld@bloomberg.net
To contact the editors responsible for this story:
Aaron Kirchfeld at +44-20-3525-8830 or
akirchfeld@bloomberg.net
Mohammed Hadi, James Callan
2014-05-30 19:01:26.289 GMT
By Ruth David, Matthew Campbell and Aaron Kirchfeld
May 30 (Bloomberg) -- Rocket Internet GmbH, the online
startup investor founded by Germany’s Samwer brothers, is
planning an initial public offering that may value the company
at more than 3 billion euros ($4 billion), according to two
people familiar with the situation.
Rocket is working with Berenberg, JPMorgan Chase & Co. and
Morgan Stanley on a share sale that’s planned for Frankfurt
later this year, the people said, asking not to be identified
discussing a private matter. Berlin-based Rocket, which calls
itself the world’s largest Internet incubator, has investments
in more than 75 companies including online retailer Zalando SE.
Food-delivery startup Just Eat Plc and King Digital
Entertainment Plc, the creator of Candy Crush games, are among
companies that have gone public this year, even as investors are
cautious about how new businesses will generate profits. The
STOXX 600 Technology Index has fallen this year in an otherwise
rising market.
Rocket and its ventures have received over 2 billion euros
in external funding, according to Swedish holding company
Investment AB Kinnevik. The Samwer brothers, Alexander, Marc and
Oliver, founded Rocket in 2007.
“We focus on what’s best for the company and that is
concentrating on our operations, in order to build a business
for the long-term,” said Andreas Winiarski, a spokesman for
Rocket. He declined to comment on a possible IPO.
Representatives at JPMorgan and Morgan Stanley declined to
comment. A Berenberg spokesman couldn’t immediately be reached
for comment.
Cloning Capital
The Samwer brothers have a model of finding a promising
Internet business in the U.S. and cloning it internationally.
Since starting their first so-called dot-clone in 1999, a German
version of EBay Inc., they’ve duplicated sites such as those of
Airbnb Inc., EHarmony Inc. and Pinterest Inc. Zalando, a
Zappos.com Inc. clone, is also planning an IPO this year, people
familiar with the matter say.
Rocket starts companies, hires staff and provides
marketing, design and management know-how until the fledgling
company can fend for itself.
Known for putting Berlin’s startup scene on the map, the
Samwers are also credited for sticking Germany with a reputation
as the copycat capital of Europe. If both Zalando and Rocket go
public this year, they will also revive IPO activity from
Berlin, which hasn’t seen a sizable technology sale since
Hypoport AG in 2007, data compiled by Bloomberg show.
For Related News and Information:
Samwer Brothers Build Startup Scene With Clones of EBay to Fab
NSN M06K520D9L35 <GO>
Top Stories: WTOP<GO>
Top Deal Stories: DTOP<GO>
Bloomberg Industries: BI <GO>
Economic Statistics: ECST <GO>
--With assistance from Christopher Spillane in Johannesburg and
Niklas Magnusson in Stockholm.
To contact the reporters on this story:
Ruth David in London at +44-20-3525-8095 or
rdavid9@bloomberg.net;
Matthew Campbell in London at +44-20-3525-8684 or
mcampbell39@bloomberg.net;
Aaron Kirchfeld in London at +44-20-3525-8830 or
akirchfeld@bloomberg.net
To contact the editors responsible for this story:
Aaron Kirchfeld at +44-20-3525-8830 or
akirchfeld@bloomberg.net
Mohammed Hadi, James Callan