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Rocket Internet sells Foodpanda

German startup juggernaut Rocket Internet announced today it’s selling off the entire global operations of Foodpanda to rival firm Delivery Hero.

Where Rocket Internet went wrong with India

Fabfurnish, an Indian online furniture brand built by Rocket Internet AG, was recently sold to Indian retail giant Future Retail for an estimated 15 crore. That is less than $3Million after having absorbed funding which was more than 10 times the value.