Rocket Internet shares dropped again
After yesterday’s news of the Global Fashion Group’s valuation drop (from $3 billion to $1 billion), investors seem to question Rocket Internet’s operations in general. Bank of America Merrill Lynch, which advised Rocket’s IPO in October 2014, cut the stock to “underperform”, and gave it a new price target for the stock: €19. The shares were valued at €42.50 at the IPO.
Paymill is filing for preliminary insolvency proceedings
Munich-based fintech startup Paymill is filing for preliminary insolvency proceedings. The startup is backed by Rocket Internet and started as a competitor to US-based Stripe. Since 2012, where it first launched, Paymill raised an overall amount of $18 million. Besides Rocket Internet, Blumber Capital and Holtzbrinck Ventures invested.
Seven-digit amount for Enit
Freiburg-based energy startup Enit Systems announces a seven-digit investment. The startup offers an energy management platform to overview and organize decentralized energy systems. The investment comes from Sparkassen’s S-Beteiligungsgesellschaft.
Image: Gründerszene, Oliver Samwer, CEO Rocket Internet