Rocket Internet backed Printvenue Plans To Expand Its International Presence to Australia

Gurgaon-based Printvenue, an online portal for personalized printing, is planning to start operations in Australia at a time when the parent group German venture capital firm Rocket Internet is close to go in initial public offering (IPO) by the end of this year. Printvenue is expected to expand its international presence in the next 10 days with a team of 20 people in marketing, content and sourcing along with Asia-Pacific region such as South East Asia and Middle East, too.

printvenue

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Earlier this year, the firm has entered into Singapore where it operates with a small team, also plans to set up local businesses in countries outside India as well as looking to venture into Europe and Latin America.

Printvenue began its operations in 2012, enables ordering stationery, business cards, letterheads, cardholder and other customized printing and personalized gifts, is growing at 25% month-on-month in Singapore and has fulfilled more than 20,000 orders since its inception.

As a part of the expansion plans, the brand is constantly innovating in terms of product categories. It offers a wide assortment of gifting options and accessories that can be customized to personal preferences and all the offerings will be available in the international markets as well. Tote bags, wallets, notebooks, pen drives, cushions and kitchen accessories are just some of the many quirky and interesting categories that Printvenue has added to its bouquet of offerings in the recent months.

Saurabh Kochhar, Co-founder and Managing Director, Printvenue.com, says“After our successful launch in Singapore, we identified Australia as the next most promising foreign market for our brand. Customized printing and sourcing personalized gifts online is still very expensive in Australia. We aim to plug this gap with the wide choice of products we offer combining superlative quality and competitive prices.” 

Rocket Internet had also decided to take online fashion retailer Jabong.com to a global platform by merging it with four other such businesses in Latin America, Russia, Middle East, South East Asia and Australia to create a company worth EUR 2.7 billion. it also looking to create the Internet empire outside the US and China.

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Berlin-based startup incubator, Rocket Internet had also merged 5 emerging fashion brands into a single entity with its co-investor, Kinnevik, that include-  Dafiti(Latin America), Jabong (India), Lamoda (Russia and CIS), Namshi (Middle East) and Zalora(South East Asia and Australia) at a combined valuation of USD 3.5 billion (€2.7 billion).

Rocket Internet and Kinnevik have also invested in PricePanda which launched in India recently. Earlier this year, Swedish investment firm, Kinnevik had invested USD 90 million in Quikr and USD 20 million in FoodPanda. FoodPanda also received funding from Phenom Ventures and Rocket Internet.

Rocket Internet has confirmed that it is going public with a USD 970 million IPO in Germany this year. Rocket Internet was launched in 2007, as a venture of Samwer brothers (Marc, Oliver and Alexander), operate a network of 25 international Rocket offices, covering all relevant developed and emerging markets. It had invested in 24 companies and consisting of 500 employees in its current team.

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