Valuation worries weigh on Rocket Internet

By Emma Thomasson and Mia Shanley BERLIN/STOCKHOLM (Reuters) – Shares in German ecommerce investor Rocket Internet took another tumble on Thursday as concerns grew over the value of its portfolio and after a downgrade by the bank that worked on the company's 2014 stock market debut. Rocket and co-investor Kinnevik said on Wednesday a new fundraising at online emerging markets player Global Fashion Group (GFG) valued it at 1 billion euros ($1.1 billion), a third of the figure put on the business when it last raised funds in August. Rocket valued its portfolio of start-ups at 6 billion euros at March 31, including 680 million for its 22.5 percent stake in GFG.

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