Rocket IPO will reportedly value German e-commerce giant at $8B
Rocket Internet’s upcoming IPO looks to be a barnstormer. As reported by Reuters on Wednesday, the flotation on the Frankfurt Stock Exchange next month is already fully subscribed, and the German e-commerce giant expects to raise twice the €750 million ($970 million) target originally set. This would value the clone factory at around $8 billion rather than $5 billion. The Berlin-based company, which specializes in copying and rapidly internationalizing successful startup business models, made $1 billion in revenue last year. Fashion retailer Zalando, a Rocket spinoff, will also make its stock market debut in October – and that IPO is reportedly oversubscribed.
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