Ooredoo and Rocket Internet enter joint venture to develop eCommerce in Asia
24 April 2014 | Sophie Donoghue
Qatar carrier Ooredoo has announced that it has partnered with Germany-based startup incubator Rocket Internet, to become equal partners in Asia Internet Holding, a company that will develop eCommerce and digital services in Asia.
Ooredoo is aiming to diversify away from basic telco services and capitalise on the growing trend of eCommerce.
“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,” said Dr Nasser Marafih, CEO of Ooredoo.
Asia Internet Holding will cover approximately 15 markets in Asia including Pakistan, Myanmar, Thailand, Malaysia, Singapore, Indonesia, Vietnam, the Philippines and Australia.
The deal will see the venture invest in businesses ranging from online retail and marketplaces to payment services.
“Our partnership will accelerate the development of Asia Internet Holding in the region and help our businesses succeed,” said Oliver Samwer, co-founder of Rocket Internet.
“We feel that by bringing e-commerce 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.”