Germany's Rocket Internet, a venture capital group that has launched dozens of online start-ups, priced its initial public stock offering in a range of 35.50 to 42.50 euros per share, valuing the company at some 6.2 billion euros ($8 billion).The Berlin-based company said in a statement on Tuesday it expected gross proceeds of about 1.477 billion euros from the offering. This assumes it places the maximum number of shares at the mid-point of the price range, with a free float after lock-ups of 24 percent.Rocket Internet wants to replicate the success of Amazon.com Inc and Alibaba in markets that the U.S. and Chinese groups have yet to dominate such as Africa, Latin America, Russia and other parts of Asia.Founded in 2007 by brothers Oliver, Alexander and Marc Samwer, Rocket has set up e-commerce and online marketplaces for everything from taxis to meal deliveries in more than 100 countries, making revenue of $1 billion in 2013.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN fell by 0.26% or $-0.84/share to $323.66. In the past year, the shares have traded as low as $284.38 and as high as $408.06. On average, 3573660 shares of AMZN exchange hands on a given day and today's volume is recorded at 1799637.
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