Rocket Internet posts first-half loss, shares plunge

German e-commerce investor Rocket Internet has plunged to a first-half loss of 617 million euros ($691 million) after heavy writedowns on companies in its portfolio, reviving concerns about the value of its investments. Rocket has spent heavily to build up assets such as Global Fashion Group (GFG), which includes online fashion businesses Zalora in southeast Asia, Dafiti in Latin America and Lamoda in Russia, with a view to lining up a succession of lucrative stock market flotations. Chief Executive Oliver Samwer said the group remained committed to its goals of placing broad bets to create a few proven winners in which it can continue to invest, in the hope of big paydays from eventual stock market selloffs.

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