BERLIN, Sept. 19 (Xinhua) -- German startup investor Rocket Internet doubled its profits to 548 million euros (612 million U.S. dollars) in the first half of 2019, the Berlin-baded company announced on Thursday.
During the period, Rocket Internet increased its revenues by 33 percent to 32 million euros and as of Aug. 31 had net cash of 3 billion euros, according to the company.
"The first six months have been a good start to the year," commented Oliver Samwer, founder and CEO of Rocket Internet.
The German startup investor, which "incubates, builds and operationally develops" internet-based business models, is focused on technology companies throughout the world. Its clients include Europe's leading online fashion retailer Zalando.
According to Rocket Internet, its selected portfolio companies, such as the online retailer Global Fashion Group, the e-commerce platform Jumia and the home decor store home24, had "developed well" in the first half of 2019.
Global Fashion Group was publicly listed in July 2019 at the Frankfurt Stock Exchange and raised net proceeds of 186 million euros. Jumia, an online platform that offers electronics, fashion and food, listed on the New York Stock Exchange in April.
"With 15 new internet-based business models incubated since January 2018, we continue to pursue our core strategy of operationally developing new business models in the tech space," Samwer said.
More than one year after the initial public offering (IPO) of food delivery company Hellofresh, Rocket Internet sold its 28.9 percent stake in it for 350 million euros in May this year. (1 euro = 1.10 U.S. dollars)
