Ooredoo and Rocket Internet Partner to Develop Online Businesses in Asia
Doha, Qatar, 23 April 2014: Ooredoo Q.S.C. (“Ooredoo”) – Ticker: ORDS.QA today announced a partnership with the internet incubator Rocket Internet, to jointly develop eCommerce and other digital services in Asia.
Ooredoo and Rocket Internet will become equal partners in Asia Internet Holding, a joint venture that will create and develop online businesses in the region.
eCommerce is part of Ooredoo’s strategy to invest in new businesses that provide growth opportunities and develop new revenue streams. Increasing disposable income and internet penetration are key drivers for eCommerce growth in Asia and Ooredoo and Rocket are keen to benefit from this trend. Growing smartphone penetration and limited fixed line infrastructure are reinforcing mobile as the preferred medium for eCommerce in Asia, especially in Indonesia which is Asia’s second largest online market just behind China – Ooredoo is present in Indonesia through Indosat which has 60 million customers.
Dr Nasser Marafih, Ooredoo Group CEO, said, “A fundamental shift is happening across our markets, as more people buy goods and services online through their mobile phones. This is even more evident in our Asian footprint. We believe that offering eCommerce services will further support our ambition of enriching people’s lives. We are pleased to have entered into a partnership with Rocket and look forward to harnessing their knowledge and experience gained elsewhere into making our joint venture an eCommerce market leader across Asia.”
Asia Internet Holding will cover 15 markets in Asia including Pakistan, Myanmar, Thailand, Malaysia, Singapore, Indonesia, Vietnam, the Philippines and Australia, with ventures ranging from online retail and marketplaces to payment services. Several successful ventures were launched over the last two years including Daraz.pk, Lamudi.com, Carmudi.com, Kaymu.com, Pricepanda.com and EasyTaxi.com.
Oliver Samwer, co-founder of Rocket Internet, commented, “We look forward to working with a partner as innovative and customer-centric as Ooredoo in Asia. Our partnership will accelerate the development of Asia Internet Holding in the region and help our businesses succeed. We feel that by bringing ecommerce models that have worked well elsewhere in the World to Asia, and that by partnering with an operator like Ooredoo, we can jointly bring better services to customers”
This investment is subject to the approval of the regulatory authorities in the countries where the service will be provided, and it is expected to be concluded in the second quarter, 2014.
About Ooredoo
Ooredoo, formerly known as Qtel Group, is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and South-East Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives, Myanmar and Indonesia. The company was named “Best Mobile Operator of the Year” at the World Communication Awards 2013. The company reported revenues of $ 9.3 billion U.S. dollars in 2013 and had a consolidated global customer base of more than 96 million people as of 31 December 2013. Ooredoo’s shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.
About Rocket Internet
Rocket Internet is the world’s largest internet incubator. Its team has been building online companies since 1999 and has created over 100 market leading companies in 50+ countries, dozens of which have been exited successfully. Since 2007 it operates under the name of Rocket Internet. Currently, all companies in which Rocket is a shareholder employ over 25,000 people, covering all relevant developed and emerging markets. Primary focus is on building proven, transaction-based business models in the online and mobile space. Rocket Internet is headquartered in Berlin, Germany, and operates 25 international offices in five continents. For more information, visit www.rocket-internet.com.
About Asia Internet Holding
Asia Internet Holding is a leading online company in Asia. It introduces and accelerates the online shift in Asia by launching and running successful internet ventures. Currently, Asia Internet Holding operates eight fast growing ventures: Daraz, Kaymu, Lamudi, Carmudi, ads.com.mm, work.com.mm, Pricepanda and Easytaxi. Currently, the ventures employ more than 400 people in 15 countries (Pakistan, Nepal, Bangladesh, Sri Lanka, Myanmar, Thailand, Laos, Cambodia, Vietnam, Malaysia, Singapore, Indonesia, the Philippines, Australia and New Zealand).
