Indian Internet retailer, Jabong.com is getting ready to go for a public listing within an year. Business Standard reports, that a source from the company says that although it was planning to list itself in Paris Stock Exchange or a bourse in US, it might explore options in India as well.
This is completely contrary to the perception some market experts and publishers have created for Rocket Internet. If the IPO goes through, it will be an indication that the firm is not the ‘German Copycat’ which replicates business models and sells them off.
In an interview Oliver Samwer, co-owner of Rocket Internet, said “I don’t build boats, I build aircraft carriers.” to define what he, his brothers and the whole team at Rocket do. In India, besides Jabong, the company ran several other businesses like 21diamonds, OfficeYes.com, FoodPanda.in, Fabfurnish.com.
And in order to make Jabong a success story, it had to shut down a few of them (21diamonds, OfficeYes). The online retail company is currently valued at USD 450-500 million. In April this year, HomeShop18 had filed for a USD 75 million public offering in NASDAQ, other eCommerce companies like Flipkart and Snapdeal too are looking to going for an IPO in the coming few months.
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