Germany can be gloomy in autumn, just like the prospects for the country’s leading start-up incubator, Rocket Internet.
The company’s disappointment comes from its food delivery service HelloFresh, which sends cooking boxes containing ingredients, spices and recipe right to the customer’s door. It is currently the most promising majority holding in Rocket Internet’s portfolio, but in early November it backed out of an only recently announced plan to go public.
Investors were unsettled, as there is a distinct lack of proof that Rocket Internet’s business model really works.
And what is more: Now chief executive Oliver Samwer is finding that important managers are jumping ship or threatening to do so. And he himself is increasingly investing his own money outside the Internet. All of this is not exactly trust-enhancing behavior.