Rocket Internet promises major Asian roll out
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Fast-expanding German startup Rocket Internet is promising its new joint venture spinoff will launch one new company per quarter in Asia.
Rocket has partnered with Qatari telco Ooreedo to launch an Asia-Pacific spinoff venture APACIG to launch new companies. This despite it already operating some 20 companies, including online food delivery business Foodpanda and eCommerce portal Zalora.
The fast-paced roll-out has already begun with the launch of Vaniday, an online marketplace for beauty and wellness professionals, to Australia. Vaniday was already operating in five nations outside of Asia after first starting in Brazil.
Vaniday will soon expand across Southeast Asia, the company said today. It’s similar to Vanitee and Lookbooker in Singapore.
The news comes as some of Rocket Internet’s other ventures, such as Easy Taxi, are struggling badly in Asia. The ride-hailing app, which focuses on licensed city cabs rather than Uber-esque regular cars, pulled out of Hong Kong, Indonesia, and India at the end of last year and seems to be having a rough ride in other Asian markets up against fast-growing homegrown challenger GrabTaxi.
Easy Taxi is also a part of APACIG. Other APACIG ventures include Carmudi, Lamudi, Everjobs, and Helpling.
“We are operating in highly diverse markets – from very developed ones such as Singapore and Australia to rising stars such as Myanmar and Pakistan,” said Hanno Stegmann, CEO of APACIG, in a statement.
“Our portfolio of companies fits the macroeconomic trends of different regions and the demand for new online businesses.”
Questions & Answers
Q.What is the primary objective of Rocket Internet's new joint venture in Asia?
What is the primary objective of Rocket Internet's new joint venture in Asia?
Rocket Internet's new joint venture spinoff, APACIG, aims to launch one new company per quarter in Asia. This initiative is designed to introduce new online businesses across diverse markets, from developed to emerging economies.
Q.Which existing Rocket Internet companies are mentioned as already operating in Asia, despite the new venture?
Which existing Rocket Internet companies are mentioned as already operating in Asia, despite the new venture?
Rocket Internet already operates around 20 companies in Asia, including the online food delivery service Foodpanda and the eCommerce portal Zalora. These established ventures operate alongside newer initiatives from the APACIG joint venture.
Q.What is Vaniday, and where has it recently expanded?
What is Vaniday, and where has it recently expanded?
Vaniday is an online marketplace for beauty and wellness professionals. It has recently expanded its operations into Australia, following its initial launch in Brazil and presence in five other nations outside of Asia.
Q.Which Rocket Internet venture is facing difficulties in the Asian market?
Which Rocket Internet venture is facing difficulties in the Asian market?
Easy Taxi, a ride-hailing app focusing on licensed city cabs, is struggling in Asia. It has pulled out of Hong Kong, Indonesia, and India, facing strong competition from homegrown challengers like GrabTaxi in other markets.
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