Tag: Kinnevik

Tech

Kinnevik reports net debt of SEK0.9 billion for Q3

Kinnevik, Swedish tech investor and major owners of Nigeria’s Konga said its net debt rose to SEK0.9 billion. Zalando showed continued healthy growth and announced the launch of a beauty category in the spring of 2018 Preliminary revenue growth of 27.5-29.5% and an EBIT margin of between -0.5 and 0.5% […]

Kinnevik’s Global Fashion Group cuts down its losses
Global

Kinnevik’s Global Fashion Group cuts down its losses

Global Fashion Group, the emerging markets fashion retailer owned by investors Kinnevik and Rocket Internet, said its second-quarter operating losses nearly halved as net revenue jumped by 25.6 percent. Accrding to the company, Adjusted EBITDA margin improved by 6.0 percentage points to (4.3)% of Net Revenue. At EUR12.1 million for […]

Anders Borg resigns from Kinnevik’s board
Tech

Anders Borg resigns from Kinnevik’s board

Kinnevik has announced the resignation of Anders Borg from its board of directors with immediate effect. Kinnevik said in a brief statement issued today that “Earlier today, Mr Anders Borg tendered his resignation as a Director of Kinnevik with immediate effect. The Board has accepted his resignation”. The company did […]

Georgi Ganev to head Kinnevik from 2018
Tech

Georgi Ganev to head Kinnevik from 2018

Georgi Ganev, the recently appointed chief executive officer of Kinnevik will be resuming his position by the 1st of January, 2018. Kinnevik confirmed the status in its latest trading update where its net asset value was disclosed at SEK81.9 billion (SEK 298 per share), up SEK 2.4bn or 3% during […]

Kinnevik invests USD65 million in Betterment LLC
Tech

Kinnevik invests USD65 million in Betterment LLC

Kinnevik AB, Swedish tech investor said it has invested another USD65 million into Betterment LLC. Betterment is the largest independent automated investing service company in the United States, as the company extends its financing round from last year. Kinnevik said the USD70 million extension to the March 2016 financing round […]

Global

Kinnevik AB appoints Georgi Ganev as CEO

Several months after its CEO resigned, Kinnevik AB said it has appointed Georgi Ganev as its Chief Executive Office with effect from 1 January 2018. Chairman of the Board of Kinnevik, Tom Boardman,said: “In Georgi Ganev, Kinnevik will have a CEO with a keen appreciation of Kinnevik’s strategy, our markets […]