Rocket Internet is doing its best to keep up with the hype – even if it’s not making any money. The startup incubator on Thursday said it remains on target for its ambitious goals, though some have been pushed further into the future as it continues to work on its profitability and transparency.
Rocket, based in Berlin, is a startup incubator with 10 main companies in food delivery, fashion and home furnishings. It’s best known for creating Zalando as a startup in 2008 that has since become Germany’s biggest online retailer worth more than €9 billion.
On Thursday, Rocket reported its first half-financial results and provided more information about the value of some of its main holdings.
While Rocket announced a half-billion euro loss – mainly due to writedowns on its Global Fashion group holding – it reported some good news too, for example on the value of Hello Fresh, its food delivery service.