Rocket Internet is one of the most hated yet successful tech companies in the world. Part startup factory, part venture capital firm, the business strategy is to fund clones of Silicon Valley startups then grow them at lightning speed in European, South American, and Asian markets. Once Rocket Internet dominates a market, they sell the startup to the company they cloned it from.
Founded by in 2007 by three German brothers – Marc, Oliver and Alexander Samwer – their portfolio companies employ more than 30,000 people. They have a market cap north of $3 billion, which at times has risen above $6 billion.
Lead by Oliver (the middle brother), Rocket Internet is famous for its aggressive growth tactics, taking businesses from idea to billions of dollars in revenue in under three years. This is due, in part, to their cutthroat hiring practices, a team of ex-bankers, and massive amounts of funding they pour into each venture.
Because the Samwer brothers rarely give interviews, Rocket Internet has, for the most part, remained a mysterious figure in the business world.
The Hustle arranged an exclusive interview with one of their former employees, the ex-CEO of one of Rocket Internet’s most successfully cloned startups. He spent seven years at Rocket Internet and gave us the lowdown on the real reasons behind the company’s extreme growth, and what it’s like to work with the most ruthless CEO in the business. All names have been changed.
via thehustle.co