Rocket Internet to Start One New Venture Every Quarter in Asia-Pacific Region

To build one of the largest internet platforms in the APAC region, Asia Pacific Internet Group (APACIG), a joint venture between Rocket Internet and Qatar-based telco Ooredoo, has announced a plan of launching one new venture every quarter.

APACIG, which also has investment presence in India, has 14 eCommerce and online marketplace companies in its portfolio including retail portal Lamudi, vehicle marketplace Carmudi, cleaning platform Helpling and Amazon-alike Daraz. It is operating across 15 countries.

As part of its new strategy, the first launch will be an online beauty marketplace Vaniday, starting in Australia and will soon expand its operations to more countries in South East Asia. On Vaniday, customers can find a curated selection of offers and can book treatments such as massages, hair appointments and manicures.

“For frontier markets we have totally different companies in the pipeline and are excited to reveal one each quarter”, said Hanno Stegmann, CEO of APACIG. Founded in 2014, APACIG has made its presence in India with an $4.5 million investment in Gurgaon-based Printvenue, an online portal for personalized printing in January 2015. One of its portfolio companies Easy Taxi was also planning to launch its services in India. However, as per recent reports, that plan has been cancelled for now.

Founded in 2007 by the Samwer brothers – Marc, Oliver and Alexander, Rocket Internet already has a direct presence in Asia, including India. The Indian ventures backed by Rocket Internet are Jabong, FabFurnish, Vyomo and FoodPanda, which operates under Hellofood brand in some markets.