Rocket Internet, a German start-up company, has been marked as a global platform that aims to create a business model for emerging markets. The Samwer brothers, Rocket Internet founders, have been seeking out potential investors in recent months and have landed a deal with the Philippines Long Distance Telephone Company, according to Forbes.
via twitter/mark milian
Tech Crunch reported that the two companies have agreed upon a partnership to further cultivate online and mobile payment merchandises. With this, PLDT has invested nearly $445 million in order to receive a 10 percent stake in the Internet company.
The investment “demonstrates our commitment to the global Internet market and our belief in the powerful synergies between e-commerce and mobile payments, particularly in developing economies,” said PLDT Chief Executive Napoleon L. Nazareno, according to The Wall Street Journal.
The partnership looks to be a positive growth opportunity for the Samwer brothers, as their personal prosperity now totals $2 billion, according to Financial Times. With 70 companies in 100 countries, Rocket’s new deal should make an influential impact to customers worldwide.
“Rocket and PLDT share a vision for the growth opportunity of Internet and mobile business models in emerging markets, as smartphone penetration increases exponentially. Strategic partnerships are a core part of Rocket’s strategy to provide great services to consumers and rapidly roll out new Internet based business models across diverse geographies,” said Rocket Internet CEO Oliver Samwer, according to Forbes.
The companies plan to act smart and fast as competition is rising. PLDT will soon occupy one seat on Rocket’s supervisory board, and together they will exhibit their dedication to the global Internet and expand financial technologies to e-commerce.
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