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November 30, 2018 / 8:44 AM / 9 days ago


ROCKET INTERNET CEO READY TO SEIZE TECH ROUT OPPORTUNITIES



3 Min Read

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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.

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

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.

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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

Our Standards:The Thomson Reuters Trust Principles.



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