Control of Rocket Internet Shifts

Rocket Internet, the German startup incubator launched in 2007 by Alexander, Marc and Oliver Samwer, has swapped 2.5 percent of its ownership to a longtime investor in its portfolio companies, according to TechCrunch.

Under the deal, Holtzbrinck Ventures turned over its shares of Rocket Internet companies including fashion portals Lamoda, Dafiti, Jabong and Namshi; home and living businesses Home24 and Westwing; and a food delivery company HelloFresh in exchange for the 2.5 percent stake in Rocket.

No cash changed hands and the companies didn’t set a value on the deal; the main purpose was to consolidate ownership of the companies in Rocket, which is widely expected to launch an IPO soon. But based on the Aug. 15 sale of 10.7 percent of Rocket Internet to United Internet for roughly $580 million, TechCrunch estimated that Rocket is now valued at about $5.3 billion, with Holtzbrinck’s 2.5 percent share worth around $135 million.

Rocket’s other shareholders are AB Kinnevik (18.1 percent), Access Industries (8.3 percent), PLDT (8.4 percent), United Internet (10.4 percent) and the controlling 52.3 percent interest held by Samwer Brothers’ Global Founders Fund.

Before launching Rocket in 2007, the Samwers co-founded and sold Alando to eBay in 1999 for $50 million and Jamba to VeriSign in 2004 for $270 million. They later sold CityDeal to Groupon in 2010 for around $100 million.