IPO-Bound E-Commerce Giant Rocket Internet Consolidates, Holtzbrink Takes 2.5% Stake


More shareholder activity over at Rocket Internet, the Berlin-based e-commerce incubator and investor that is widely expected to go public. Holtzbrinck Ventures, a firm that has been a longtime investor in Rocket Internet portfolio companies around the world, is exchanging the shares it has in those companies for a 2.5% share in Rocket Internet.

No cash is changing hands here: this is a stock for stock deal, which the companies say is “valued on the basis of the last external funding round of the respective companies.”

I have reached out to Holtzbrinck and Rocket Internet to clarify what those valuations are right now. The last that we heard, Rocket Internet sold a 10.7% stake in itself to United Internet for €435 million, giving Rocket Internet a valuation of €4 billion. Without considering the valuation of those individual portfolio companies, that would make today’s 2.5% stake, based on…

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