Europe has a problem with the growth of technology companies

Europe has a problem with the growth of technology companies

Few startups and innovative companies manage to grow and go public. The case of the German Rocket Internet, which leaves the Frankfurt lists, is an example.

Unicorn (Getty Images) The German startup Rocket Internet has announced the decision to withdraw its stock from the Frankfurt stock exchange. The company, famous for having cloned and imported the US business model of companies such as Uber and Amazon into Europe, founding the Zalando ecommerce or the Delivery Hero food delivery service, went public six years ago, a choice that has progressively decreased its market value from € 6.7 billion to € 2.6 billion, with an average decline of 15%. A negative progression that prompted Rocket Internet to make this decision, underlining that "listing on the stock exchange is no longer required to have adequate access to capital". Simultaneously with the announcement, the company explained that it will offer its investors 18.57 euros for each of the shares owned and that it will not change the stakes held by the majority shareholders: the Global Founders Capital fund and the CEO Oliver Samwer will keep their 45.11% and 4.53% respectively.
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