German e-commerce investor Rocket Internet will set up more companies in 2019 than last year, as investors raise questions about the company’s direction now most of its big holdings are listed or on track to go public.
Rocket Internet responded to investor calls to use some of its 2.1 billion euro cash pile on Thursday with a plan to buy back shares worth up to 150 million euros, 3.6 percent of its outstanding stock.
German ecommerce investor Rocket Internet pushed back its goal of turning a profit at some of its leading start-ups, as its chief executive faced calls on Thursday to return more cash to shareholders or even go private.
German ecommerce firm Rocket Internet said it was on track to make three of its start-ups profitable by the end of 2017, and its losses should have peaked last year when its companies burned through 1 billion euros.
Rocket Internet, the German venture capital group behind dozens of online start-ups, will aim to raise new capital to help it grow rather than see current owners cash out if it decides to proceed with a listing, sourc...