Revenues at startup factory Rocket Internet grew in the first six months of 2017 with losses narrowing at a number of its companies, according a revenue report released today.
Rocket Internet’s revenues for the first half of 2017 grew 29% to €1.24 billion with an adjusted EBITDA margin of -12%, an improvement of -19% from the same period a year ago.
The earnings report covers a select number of companies in Rocket’s portfolio in sectors like food, fashion, general merchandise, and home and living.
Two of Rocket’s biggest companies, HelloFresh and Global Fashion Group, both exhibited growth in the first six months of 2017. HelloFresh earned revenues of €435 million (an increase of 49.4%) and Global Fashion Group had revenues of €510.60 million (up 31.4%)
On the flipside, Rocket Internet has sold off a large chunk of its shares in food delivery marketplace Delivery Hero to investment giant Naspers. The firm has increased its stake to 23.6% with the investment reportedly worth $775 million.
Delivery Hero posted its own earnings earlier this week, showing a 66% boost in revenue.