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Rocket Internet's fashion biz valuation erodes 68%

Latest fund-raising values the fashion group at €1 bn, down from €3.1 bn in July 2015

Ranju Sarkar  |  New Delhi 

Rocket Internet’s Global Fashion Group (GFG), which includes its Indian fashion portal Jabong, has seen its valuation plummet by 68 per cent in nine months flat. GFG raised €300 million on Wednesday from existing investors at a post-money valuation of €1 billion ($1.13 billion), compared with €150 million raised at a post-money valuation of €3.1 billion ($3.45 billion) in July 2015. Rocket did not disclose how much of this €300 million it would invest in Jabong. A few months ago, investors had marked down the valuation of internet major ...

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First Published: Thu, April 28 2016. 00:28 IST
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