Ron Burgundy Posted April 14, 2016 Share Posted April 14, 2016 By Emma Thomasson BERLIN (Reuters) - German ecommerce firm Rocket Internet said it was on track to make three of its start-ups profitable by the end of 2017, and its losses should have peaked last year when its companies burned through 1 billion euros ($1.1 billion). Founded in Berlin by brothers Oliver, Alexander and Marc Samwer in 2007, Rocket has set up dozens of ecommerce sites, aiming to replicate the success of Amazon and Alibaba in Africa, Southeast Asia, Latin America and Russia. The stock fell 9.8 percent by 0948 GMT (0548 EDT) on Thursday, wiping out gains made this week after it sold a stake in the start-up making the heaviest losses - Southeast Asian online retailer Lazada Group - to Alibaba. View the full article Quote Link to comment Share on other sites More sharing options...
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