• Write for Us
  • Advertise
  • About
  • Contact
Thursday, June 1, 2023
British Herald
Advertisement
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
Home Tech

Rocket Internet CEO ready to seize tech rout opportunities

Editorial Bureau by Editorial Bureau
November 30, 2018
0
Rocket Internet CEO ready to seize tech rout opportunities

FILE PHOTO: Rocket Internet CEO Oliver Samwer attends an interview with Reuters in Berlin, Germany, January 10, 2018. REUTERS/Hannibal Hanschke

74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

BERLIN (Reuters) – The chief executive of Rocket Internet is poised to pounce if the recent fall in tech stocks continues, putting to work the German ecommerce investor’s 2 billion euros ($2.28 billion) of available cash.

You might also like

IBM Plans To Replace Nearly 8,000 Jobs With AI

World’s Most Valuable Chipmaker Nvidia Unveils More AI Products After $184 Billion Rally

Chinese Hackers Spying on US Critical Infrastructure, Western Intelligence Reports

Oliver Samwer, whose investments in tech companies have made him one of Germany’s richest men, said Rocket Internet’s cash pile puts it in a good position, especially if the tech market falls by as much as half.

“It gives us a unique position to be a beneficiary of valuation changes in the market,” he said. “I keep 2 billion euros because I think there will be good opportunities somewhere down the road.”

Tech stocks, which have been a Wall Street favorite, have fallen in recent weeks after disappointing quarterly reports from Amazon.com Inc and Alphabet Inc prompted fears that a decade-old bull market may be ending.

The European Stoxx technology index has fallen 17.3 percent from its 2018 high set in mid-June.

Samwer told an investor event that he expects to deploy 100 million to 150 million euros of capital in 2019. While he expects to invest in more companies in the future, he would take a smaller stake in each compared with the past.

Rocket Internet had a shaky start after listing in 2014 as investors worried over big losses at its start-ups, but it has since successfully listed a raft of firms including Delivery Hero, HelloFresh and Home24.

Some investors have suggested it might make sense to take Rocket private again but Samwer said a public listing was still an advantage, even though it might be difficult for a short-term investor to understand the company.

“The net benefits are positive,” he told journalists. “It gives you diversification of capital resources. It is also very good with regards to governance, disclosure, also with the recruiting of key people.”

The company’s shares were down 0.7 percent at 1053 GMT.

Samwer said Rocket had decided against giving away too much information on the new start-ups in which it was currently investing before they reached a critical size, after its previous experience with new firms that sometimes struggled.

He declined to comment on speculation that listings are being planned for Global Fashion Group, the emerging market online fashion retailer, and Jumia, its African ecommerce group.

(Reporting by Emma Thomasson; Additional reporting by Thyagaraju Adinarayan; Editing by Michelle Martin and Kirsten Donovan)

Share30Tweet19
Editorial Bureau

Editorial Bureau

Recommended For You

IBM Plans To Replace Nearly 8,000 Jobs With AI

May 31, 2023
IBM isn't the only tech giant to cut jobs with ai

Arvind Krishna, the CEO of IBM, announced that the business is set to replace almost 8,000 jobs Jobs With AI. Back-office operations, particularly those in the human resources...

Read more

World’s Most Valuable Chipmaker Nvidia Unveils More AI Products After $184 Billion Rally

May 29, 2023
Chipmaker Nvidia Unveils More Nvidia AI Products

In a two-hour presentation in Taiwan, Nvidia Corp. Chief Executive Officer Jensen Huang unveiled a new batch of Nvidia AI Products and services , aiming to capitalize on...

Read more

Chinese Hackers Spying on US Critical Infrastructure, Western Intelligence Reports

May 25, 2023
As per reports, the chinese hackers has also targeted Guam, a U.S. territory with strategically significant American military installations

According to Wednesday reports from Western intelligence agencies and Microsoft (MSFT.O), a state-sponsored Chinese hackers outfit has been eavesdropping on a variety of essential infrastructure companies operating in...

Read more

Virgin Orbit : Branson’s space mission ends after rocket failure

May 24, 2023
Richard Branson , founder of Virgin Orbit

Virgin Orbit , Sir Richard Branson's rocket company, has shut down abruptly, merely months following a significant mission failure. The company sold its converted jet and property leases...

Read more

Users can now edit WhatsApp messages within 15 minutes

May 23, 2023
Edited Watsapp messages will be shown as "edited" to inform recipients about the content alteration

WhatsApp has announced that it will enable users to edit their WhatsApp messages , bringing it in line with competitors such as Telegram and Signal who already offer...

Read more
No Result
View All Result
May's figures of inflation in Europe will support those policymakers advocating for the ECB to end its tightening cycle

Inflation in Europe drops to lowest level since Russia invaded Ukraine

June 1, 2023
UK government faces deadline to hand Boris Johnson’s messages to coronavirus inquiry

UK government faces deadline to hand Boris Johnson’s messages to coronavirus inquiry

June 1, 2023
Sweden NATO membership

NATO presses Turkey to drop objections to Sweden’s membership as summit looms

June 1, 2023

Tags

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea Rishi Sunak russia south korea spain T20 World Cup taiwan thailand trending Trump turkey UK Ukraine usa worldnews
British Herald

Top News in World: Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

CATEGORIES

  • Africa
  • Articles
  • Asia
  • Brand Feature
  • Business
  • Climate & Environment
  • Companies
  • Crypto
  • Culture and Lifestyle
  • Daily Roundup
  • Economics
  • ECONOMY
  • Entertainment
  • Europe
  • Fashion
  • Finance
  • Financial Markets
  • Fintech
  • Health
  • IN UK 01
  • IN UK 02
  • Investing
  • Latin America
  • Market
  • Middle East
  • Oceania
  • Opinion
  • Pharma/BioTech
  • Politics
  • Reviews
  • Science & Technology
  • Sport
  • Sustainability
  • Tech
  • Technology
  • Travel
  • UK
  • Uncategorized
  • USA
  • Videos
  • World

BROWSE BY TAGS

australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong india iran israel italy japan joe biden lockdown London News new zealand north korea Rishi Sunak russia south korea spain T20 World Cup taiwan thailand trending Trump turkey UK Ukraine usa worldnews

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?