http://www.ft.com/intl/cms/s/
and
http://www.ft.com/intl/cms/s/
a comment there:
It looks like the FT articles about Rocket Internet in the past few months have been the outcome of Samwer’s PR agency…having said this, below are a few points for thought
-All ventures are created using a complex system of shell companies. This is a fact and very easy to verify
-The purpose of such structure is threefold: record fictitious sales and expenses to avoid German taxes, multiply the number of “consultancy contracts” that the ventures need to pay to Rocket holding and hide cash outflows from the ventures
-The ventures are actually companies without strategy, without sustainable growth, loss making
-Thanks to consultancy contracts and other tricks, the brothers are able to return from their investment in each venture within 2 years, leaving the entire loss to other investors
-KPIs and financials are manipulated and sometimes totally made up. The IT system is unable to provide reliable data and investors simply cannot audit the numbers
If anybody is interested, I’m happy to give more details.
In summary, the brothers did a wonderful job in raising funds and an even better job in creating a big machine with nothing underneath and keeping a cut of the funds for themselves instead of using it for developing the business. But, after all, isn’t it what a large number of ventures founders do these days? Set up a boring online business, make a fancy website and good marketing materials and raise funds to pay their salary for a few months or (if lucky) for a few years? Rocket just did it in a bigger way, fooling tax authorities too
------------------------
Please remember I am the person who denounced them to Interpol this January 2014.
---------- Forwarded message ----------
From: FERNANDO ARDENGHI
Date: Sat, Aug 9, 2014 at 9:52 PM
Subject: Massive leakage of "Samwers internal documents" by October 2014, 2 days before IPO
To:
Someone will post them and show a very complicated interlace of Juwel, Jade, Brillant and other shell companies.
Interpol is investigating as well.
Perhaps only a big Ponzi scheme; those companies no designed to be profitable ever, only to be sold to the original company they had copycatted, like eDarling (Affinitas GmbH.) copycat of eHarmony Inc. failed to be sold last May 2012.
http://www.forbes.com/sites/
"Individuals close with Rocket’s plans note that the company is raising to possibly open 100 new startups in the next 18 months. To date, the Berlin accelerator has launched more than 75 different companies in Europe and emerging markets, including Zalando and Zalora, a fashion e-commerce company in Southeast Asia."
http://venturevillage.eu/new-
Black birdie in cold Argentinean Winter:
"Sit back Fernando and watch these new and larger developments over the next 30-60 days. Yes we do, and have had. We have been waiting for this first domino to fall (PLDT)"
I really hope someone can use a stainless steel pin to punch that smoke bubble.
Rocket Internet AG accumulates up to Euros 50 million loss per month ?
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/08/rocket-internet-ag-accumulates-up-to.html
http://onlinedatingsoundbarrier.blogspot.com.ar/2014/04/a-very-complicated-interlace-of-jade.html
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