German start-up investor Rocket Internet is preparing its African online shopping platform Jumia for a possible New York listing in the first quarter of 2019, which could value the firm at about $1 billion.
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 online retailer Home24, which aims to challenge IKEA’s dominance of the European furniture market, accelerated sales and trimmed losses in the fourth quarter after sources said it is considering a stock listing.
IKEA Group, the world's biggest furniture retailer, will maintain or raise already high levels of investment in coming years as it adapts to fast-changing shopping habits, its new CFO said on Wednesday.
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.