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Rocket Internet is $Bn Company, World’s Largest Internet Incubator

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Rocket Internet has announced that it has raised a total of $500 million from partners Investment AB Kinnevik and Access Industries since May 2012, representing the largest investment ever made in an internet incubator and accelerator company.

The funds will be used to further expand Rocket Internet´s world-wide network of successful internet start-ups.

Rocket Internet is the world’s leading internet incubator, bringing together the four elements required to create digital companies on a global basis: team, concept, technology, and capital. To date, Rocket Internet has started over 100 companies developing many of them across five continents.

Rocket Internet’s core team of experts works with outstanding entrepreneurs, establishes new businesses, and then supports the new enterprises to maximize their growth.

Rocket Internet´s engineering work is primarily done in-house through its 250 dedicated IT engineers based in Rocket Internet’s corporate headquarters in Berlin and in various technology development centers throughout the world.

Currently, Rocket Internet holds a significant interest in 75 ventures with 20,000 employees in over 50 countries world-wide.

Rocket Internet´s strategy is to develop and support leading, highly innovative e-commerce companies in the fashion, general merchandise and furniture sectors.

Rocket is targeting Europe, Russia, Latin America, Africa, the Middle East, India, South East Asia and Australia with its ventures – covering in total five billion people and 60% of global GDP.

Since 2010, Rocket Internet has helped to create and grow over a dozen leading e-commerce players including: In the fashion ecommerce sector: Dafiti, the fashion market leader in Latin America; Lamoda, the biggest fashion ecommerce site in Russia; Zalora, the market leader in South East Asia; the Iconic, the market leader in Australia; Namshi, the market leader in the Middle East; Zando, the market leader in Africa; in the general merchandise ecommerce sector; Lazada, the largest ecommerce company in South East Asia; Linio, the largest ecommerce company in Mexico, Colombia, Peru and Venezuela and Jumia, the largest ecommerce company in Africa

In the online furniture and home decoration ecommerce sector: Home 24, the leading online furniture site in Europe; Mobly, the leading online furniture site in Latin America; Westwing, the market leader for home & living in Europe, Russia and Latin America

Other companies recently founded by Rocket Internet include (i) payment service provider and Red Herring award winner Paymill.com, (ii) Foodpanda.com, a fast growing food delivery service company currently available to three billion people in over 20 countries, and (iii) EasyTaxi, the market leader for online taxi booking in Latin America and Asia. Rocket also holds a participation in Zalando, Europe´s largest online fashion company.

Rocket Internet companies are backed by leading global institutional investors and entrepreneurial families. Recent capital raises include (i) $100 million for 18 month old Zalora, market leader in online fashion in South East Asia, (ii) $100 million for year old Lazada, largest general merchandise ecommerce site in South East Asia, (iii) $130 million for two year old Lamoda, market leader in online fashion ecommerce in Russia, and (iv) $25 million for 18 month old The Iconic, market leader in fashion ecommerce in Australia.

The Lamoda capital raise was the largest investment ever made in Russian ecommerce; the Zalora and Lazada investments were the largest ever made in internet companies in South East Asia. The Iconic capital raise was the largest investment ever in Australian ecommerce.

Oliver Samwer, Rocket Internet’s co-founder said: “This is a highly significant investment from our partners Kinnevik and Access Industries.

The additional capital supports our goal to be the world´s largest and most successful creator of high impact companies in the internet space and reaffirms the confidence our investors have in our business. We will use the new capital to further strengthen our global presence while continuing to build successful companies together with great entrepreneurs.”

Rocket Internet was founded in 2007 by Alexander, Marc and Oliver Samwer. Investment AB Kinnevik and Access Industries became Rocket Internet investors and partners in 2008 and 2012, respectively. Rocket Internet is headquartered in Berlin, Germany, and operates 25 international offices in five continents.

Over the past 15 years, Rocket and/or the Samwer Brothers have created, developed, and successfully exited over 25 significant online businesses to leading international companies such as eBay, Groupon, Rakuten, and NBC Universal. They were also early investors in Facebook, LinkedIn, Eventbrite and many other successful internet companies.


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Meta Faces Lawsuit for Alleged Hiring Bias

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A federal judge ruled on Tuesday that Meta Platforms must face a lawsuit alleging that the parent company of Facebook and Instagram prefers hiring foreign workers to pay them less than American workers.

Meta Faces Lawsuit for Alleged Hiring Bias

U.S. Magistrate Judge Laurel Beeler in San Francisco stated that three U.S. citizens who accused Meta of refusing to hire them despite their qualifications may proceed with a proposed class action.

The plaintiffs—information technology worker Purushothaman Rajaram and software engineer Ekta Bhatia, both naturalised U.S. citizens, and data scientist Qun Wang—claimed they applied for several Meta jobs between 2020 and 2024 but were rejected due to Meta’s “systematic preference” for visa holders.

Meta, in a statement, called the allegations baseless and vowed to vigorously defend itself.

In seeking dismissal, the Menlo Park, California-based company argued there was no proof of discriminatory intent or that the plaintiffs would have been hired if they were not U.S. citizens.

However, Judge Beeler cited statistics showing that 15% of Meta’s U.S. workforce holds H-1B visas, compared to 0.5% of the overall workforce.

She also referenced Meta’s October 2021 agreement to pay up to $14.25 million, including a civil fine, to settle federal claims that it routinely refused to consider American workers for jobs reserved for temporary visa holders.

“These allegations support the plaintiffs’ overall complaint that they were not hired because Meta favours H-1B visa holders,” Beeler wrote.

The government had sued Meta in December 2020, seven weeks before President Donald Trump ended his first White House term.

Daniel Low, a lawyer for the plaintiffs, expressed hope that the lawsuit would address the favouritism towards visa workers prevalent in the tech industry, stating that fully addressing the issue would require additional enforcement or legislative reform.

Beeler had dismissed an earlier version of the lawsuit, which named only Rajaram as a plaintiff, in November 2022.

A divided federal appeals court revived the case last June, citing a Civil War-era law, Section 1981 of the Civil Rights Act of 1866, which bars discrimination in contracts based on “alienage” and protects U.S. citizens from bias.

Many conservative groups have used this law to challenge workplace diversity initiatives, which Trump also opposes.

The case is Rajaram et al. v. Meta Platforms Inc., U.S. District Court, Northern District of California, No. 22-02920.


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Mysterious Illness Kills 50 People within Hours of Symptoms, Doctors Raise Alarm

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Pic Credit: Daily Sabah
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A mysterious illness killed more than 50 people in the Democratic Republic of Congo (DRC), with most victims dying within 48 hours of showing symptoms, health officials have reported.

Mysterious Illness Kills 50 People within Hours of Symptoms, Doctors Raise Alarm

Pic Credit: Daily Sabah

The outbreak, first reported on January 21, has resulted in 419 cases and 53 deaths.

The World Health Organization (WHO) has classified it as a significant public health threat, citing concerns over its rapid progression and fatality rate.

Suspected origin and early cases

Authorities believe the outbreak started in the town of Boloko, where three children reportedly ate a dead bat.

The children developed severe symptoms and died within two days.

Medical experts suspect the illness is a form of hemorrhagic fever, which can cause fever, internal bleeding, headaches, and joint pain.

“That’s what’s really worrying,” said Serge Ngalebato, medical director of Bikoro Hospital in the DRC, referring to the disease’s speed and severity.

Ebola, one of the most well-known hemorrhagic fevers, has not been detected in this outbreak, according to initial testing.

A second wave of cases emerged in the town of Bomate on Feb. 9. Authorities have tested samples from 13 patients, all of which returned negative results for Ebola and Marburg virus.

However, some samples tested positive for malaria.

The WHO reported that the fatality rate of the illness is 12.3%, significantly higher than the early fatality rate of COVID-19.

Experts warn that the outbreak could spread further due to the region’s remote location and fragile healthcare system.

 

 

 

 

 

 

 

 


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NPC Warns Nigerians to Beware of Fake Recruitment Website

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National Population Commission (NPC), has alerted the public to a fraudulent website https://npc-career.allprogram.site/job created by individuals with malicious intent.

NPC Warns Nigerians to Beware of Fake Recruitment Website

Erelu Taibat Yemi Oloruntoba, director, Public Affairs, NPC, said in a statement that the fake site falsely claims to facilitate recruitment for the 2025 Population and Housing Census, aiming to defraud unsuspecting citizens.

“We want to state unequivocally that the Commission is not currently conducting any recruitment for Ad-hoc staff related to the upcoming census. President Bola Ahmed Tinubu, GCFR, has stated that a committee will be established to align the census budget with the government’s present financial situation before issuing a proclamation for the conduct of the upcoming biometric Population and Housing Census,” the statement outlined.

It, therefore, warned Nigerians to be aware that when there is a date for the census and it becomes necessary for the commission to recruit ad hoc staff for the exercise, it will be officially announced through national media outlets, as well as the NPC’s verified social media platforms and website.

It urged the general public to disregard the fake website and its misleading information to avoid falling victim to scams.

The statement avowed that NPC is actively investigating the creators of this fake website, adding, “we encourage everyone to seek accurate information regarding the NPC’s activities from our official social media handles and website.”

According to the statement, NPC is committed to keeping the public informed about developments concerning the first biometric Population and Housing Census in Nigeria.

“We appreciate your support in ensuring a successful census exercise,” the statement said.


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