Rocket Under Pressure to Cut Losses Amid Push for Startup IPOs
- German investor's startups boost sales, fail to curb losses
- Rocket shares fall most in more than a month in Frankfurt
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Rocket Internet SE, Europe’s largest startup factory, showed little progress with reducing losses at its businesses, complicating its bid to sell shares in at least one of them.
Rocket’s portfolio value was little changed at 6.1 billion euros ($6.7 billion) after the first nine months of 2015, the Berlin-based company said Wednesday. While Rocket’s biggest startups increased sales 120 percent on average, operating losses widened at several of them, including at shopping site Lazada and meal-kit startup HelloFresh. Rocket shares fell the most in more than a month in Frankfurt trading.