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This article was published on September 10, 2014

    It’s official: Rocket Internet is going public with a $970m IPO in Germany this year

    It’s official: Rocket Internet is going public with a $970m IPO in Germany this year
    Jon Russell
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    Jon Russell

    Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

    Rocket Internet, the European incubator-cum-global-super-cloner, has confirmed rumors that it will list on the Frankfurt Stock Exchange before the end of the year. The Berlin-based company plans to raise €750 million, around $970 million, by offering primary-only capital — that means no existing shareholders will cash out.

    The company — which says it wants to become “the largest Internet platform outside of the United States and China” — has been busy on the investment front in recent weeks. Over the past month it sold a 10 percent stake to PLTD, and a 10.7 percent share to United Internet, while long-time investor Holtzbrinck swapped its investment in seven Rocket Internet startups for a 2.5 percent share in the main company.

    Just last week, it merged five of its international e-commerce businesses under one roof, offering further proof of its IPO ambition. Rocket Internet’s most recent investment deal valued the company at around $4.5 billion.

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