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Rocket Internet will develop payment services for emerging markets thanks to a $445m investment

Aug07
by on August 7, 2014 at 7:11 am
Posted In: Around the Web, Asia, rocket internet

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Rocket Internet, the German incubator that’s so often viewed as a tech ‘clone factory’, is furthering its efforts to grow a global e-commerce empire after announcing plans to develop payment services for emerging markets. The company has teamed up with Philippines-based telecom company PLDT — the owner of mobile operator Smart — which will buy a 10 percent chunk of Rocket Internet for €333 million, that’s approximately $445 million. The deal gives a first glimpse at an official valuation for Rocket Internet, which is almost $4.5 billion. Last month, the Wall Street Journal reported that the firm was considering an IPO in Germany at a valuation…

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