Rocket Internet, Ooredoo agree to bring investments

STAFF REPORT ISB: Rocket Internet, a German start-up incubator, has partnered with Ooredoo Q.S.C, a Qatar-based telecommunications provider, to form Asia Internet Holding and will jointly build and fund existing e-commerce startups especially those focused on mobile services. This merger will benefit Rocket Internets ventures operating in Pakistan.

The collaboration is expected to bring in heavy foreign investment to Pakistan, especially through Rocket Internets most successful venture Kaymu, which spearheads operations for the entire Asia region out of Pakistan.

“Our partnership will accelerate the development of Asia Internet Holding in the region and help our businesses succeed. We feel that by bringing e-commerce models that have worked well elsewhere in the World to Asia, and that by partnering with an operator like Ooredoo, we can jointly bring better services to customers,” said Oliver Samwer, co-founder of Rocket Internet.

Commenting on the collaboration Ahmed Khan, Managing Director Asia, said, “The investment is greatly based on the success already achieved in Pakistan.”

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