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German tech company Rocket Internet SE showed much initial promise. Rocket – essentially a publicly traded ‘incubator’ of startups – has created an empire of 100 companies in 110 countries with 36,000 employees, according to the Wall Street Journal. At this point, Rocket and its portfolio of clones reflect the global tech downturn and are struggling to prove that they can be profitable.
In April, Rocket reported the combined adjusted losses before interest, tax, depreciation and amortization of eight of its major companies for 2015 at 1 billion EUR. It seems that duplicating Silicon Valley’s record is not as easy as ... (read more)