Tag: Rocket Internet

Rocket Internet dissolves board
Global Tech

Rocket Internet dissolves board

Investors and owner of Jumia, Rocket Internet said its shareholders have discharged its board and management. The decision was reached at its annual general meeting held in Berlin. The company said all agenda items proposed by the Management Board and the Supervisory Board were approved with a majority of at […]

Losses of Jumia rose to N12.5 billion in Q1
All Startups

Losses of Jumia rose to N12.5 billion in Q1

Nigeria’s largest eCommerce company by business value and coverage, Jumia said its losses further widened in the first quarter of 2018. For the first quarter of the year, Jumia’s negative adjusted earnings before interest, tax, depreciation and ammortisation (gross losses) rose to EUR30.7 million which is approximately N12.5 billion on […]

Rocket Internet buys back 10 million shares
Startups Tech

Rocket Internet buys back 10 million shares

Owners of Jumia, Rocket Internet said it has successfully bought back a total of 10,765,906 of its own shares between August 14, 2017 and May 9, 2018. Rocket said in the disclosure that it acquired 1,041,167 of these shares through a public share buy-back program and another 9,724,739 shares through […]

Rocket Internet sells off Daraz Group to Alibaba
Tech

Rocket Internet sells off Daraz Group to Alibaba

Jumia’s parent company, Rocket Internet said it has sold off Daraz Group to Alibaba. Daraz Group is an Asian eCommerce platform. Rocket Internet said it sold the company for an undisclosed amount. Daraz was founded in Pakistan in 2012. The company also operates online marketplaces in Bangladesh, Myanmar, Sri Lanka […]