German startup factory Rocket launches IPO

Staff Writer
Columbus CEO

BERLIN (AP) — Germany's startup factory Rocket Internet AG says it plans a public listing on the Frankfurt stock exchange this year.

The privately held company has launched dozens of online businesses around the world, often copying successful rivals.

The announcement Wednesday comes a week after one of its main investments, fashion retailer Zalando, itself revealed plans for an IPO. Rocket Internet said the listing "is intended to take place later in 2014" but gave no specific date.

Rocket Internet says it plans to raise 750 million euros ($968 million) to help it become the largest Internet platform outside of the United States and China.

Since 2007 Rocket Internet has established startups with more than 20,000 staff in over 100 countries.