Project Description
The project described under this summary of investment information document is related to project 33609 which was publically disclosed on June 17 2013 under its former name “Rocket Internet”. The previous summary of investment information for Rocket Internet described IFC’s proposed investment into two companies: Dafiti Latam GmbH & Co. Beteiligungs KG (“Dafiti”) operating in Latin America and Lamoda GmbH (“Lamoda”) operating in Russia and Kazakhstan. The following summary relates to IFC’s potential investment in Lamoda only. The proposed investment in Dafiti is now covered in an update to the summary for project 33609.
Bigfoot GmbH (“BF”) has launched, through subsidiaries, online retailing ventures in South America, the Commonwealth of Independent States and Asia (India). BF was initiated by Rocket Internet GmbH (“RI”), a global online venture builder.
BF has identified IFC as a potential strategic partner in its endeavor to significantly expand its e-commerce footprint in emerging markets and has invited IFC to provide equity capital to support the growth of Lamoda, its subsidiary operating in Russia and Kazakhstan, as well as possibly expanding into other former CIS countries (the “Project”).