Less profit for Rocket Internet

L

Rocket Internet has seen its profit fall slightly over the first nine months of the year. The German start-up investor mainly blames this on the declined market value of fashion platform Global Fashion Group and the African web store Jumia.

A profit of 285 million euros was recorded. That was 4 percent less than a year earlier. Compared with the figures for the first half year, there has been a substantial drop in profit. Then Rocket Internet reported a result of 548 million euros.

Turnover in the first nine months of the year increased by 47 percent on an annual basis to 47.8 million euros. Rocket Internet tries to grow young tech companies into established names. The company previously invested in the delivery of fresh food packages HelloFresh, clothing web store Zalando and meal order site Delivery Hero.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories