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Look at their global results, Europe is largely irrelevant compared to APAC and MENA. Germany exit was loss of prestige losing home market but also not a major loss of revenue compared to gains elsewhere in the world.

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Globally, it's mostly Foodpanda that was doing soo poorly they had to be sold to Delivery Hero, no?

All Rocket ventures were designed to be sold. Most of them did poorly. There is a cost/benefit ratio at which it doesn't make sense to dump money on the business, but the business itself still has value, so selling is a good strategy to cut your losses and/or make some profit.

I think you missed the fact that Foodpanda and Delivery Hero were both Rocket companies. It was that Foodpanda was doing soo poorly they gave it to Delivery Hero which was for Europe. Overall, Delivery Hero/Foodpanda are pulling out of markets repeatedly. And not small markets either.

Also, Foodpanda's plan when I was there was IPO.

DeliveryHero isn't a Rocket company. They invested heavily in it at some point in time - and they seem to still hold a position in the company, but DeliveryHero started outside of Rocket. Foodpanda was always pretty much a "rocket venture".

When rocket invests heavily, it becomes a rocket venture. That's how VC pretty much works.

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