German billionaire in line for massive payday after consolidating control over European tech investment group
The hefty payment for Samwer is another signal of how he has shifted the business away from its roots as one of Europe’s most prolific start-up financiers, towards a more conservative investment house focused on generating profits.
Even while cutting back on tech investing, the company has secured steady profits from other deal making, such as providing debt financing to companies such as Revolut and amassing a large public stock portfolio in groups like Amazon and Alibaba. “The general theme is to get as much liquidity out,” said one person familiar with the company. “It’s really driven by how much cash they thought they could distribute at this point.
Samwer did not respond to requests for comment. Founded about 16 years ago by Samwer and his brothers Marc and Alexander, Rocket Internet became one of the most prolific investors in European technology companies. The firm generated immense profits for its owners by providing early backing to start-ups such as HelloFresh and Delivery Hero, which eventually went on to hold initial public offerings at multibillion-euro valuations.
Eventually, Rocket succeeded but had to pay almost double its initial offer and included a special deal for Elliott. Rocket Internet posted revenues of €18 million and other operating income of about €468 million, according to a 2022 annual report.
España Últimas Noticias, España Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Andrew Tate set for trial in Romania on human trafficking chargesInternet personality, his brother and two others charged by prosecutors
Leer más »
Pensions are boring but they are still the best way to earn money tax-freeStarting early is key to maximising your retirement income despite the competing pressures of saving for a home and the general cost of living early in your career
Leer más »
Pensions: Boring maybe but still the best way to earn money tax-freeStarting early is key to maximising your retirement income despite the competing pressures of saving for a home and the general cost of living early in your career
Leer más »
Online service providers to be subject to legal obligations to make internet saferBusinesses such as Google, Meta and Amazon will all be subject to the new rules being put in place by media regulator
Leer más »
‘The eyes of Europe are on Ireland’, says new media and internet regulatorIreland’s role as regulator for all content platforms with their EU headquarters based here will bring added pressure and opportunity according to Jeremy Godfrey
Leer más »
Ireland's transport system among those at risk from cyber attack says major threat assessmentThe National Cyber Risk Assessment 2022 warns that the 'nature of the internet exposes the State to new and rapidly developing global threats'.
Leer más »