Samwer Brothers' Zappos Clone Namshi Gets $13M More From Summit To Build Out Its Middle East Fashion E-Commerce Portal
Rocket Internet, the German-based e-commerce startup incubator from the Samwer brothers, is today announcing another round of funding for its strategy to build out its footprint into emerging markets. Today it's the turn of Middle-East-based fashion commerce site Namshi, which is getting $13 million from Summit Partners. This is the second time Summit, a Rocket regular, has invested in Namshi, after a $1 million injection in January. To date, Dubai-based Namshi appears to have raised some $34 million, if you also count the reported $20 million from JP Morgan and Blakeney Management in September 2012. A Rocket Internet spokesperson would not confirm any of the sums apart from the most recent one, except to note that previous funding totals a "high double-digit amount."
Three Men Arrested For Attempting To Cut Undersea Internet Cable In Egypt
Egyptian authorities arrested three men off the coast of Alexandria for attempting to sever an undersea Internet cable. The SEA-ME-WE 4 main line was part of a cable network that spanned the Mediterranean and connects Southeast Asia, the Middle East and Western Europe and has 39 landing points, including Alexandria. Seacom, a cable operator, said that the attacks reduced network speed in Egypt. The line belonged to Telecom Egypt. “The armed forces foiled an attempt and arrested three divers while they were cutting a submarine cable,” said an Egyptian spokesperson. Lines off the coast of Egypt have been cut multiple times, most notably in 2008 when three lines were ostensibly cut by ship anchors. “SEACOM can confirm that at 06:20 GMT 27 March, the SMW4 cable system suffered a cable cut off the coast of Egypt. Earlier this morning, SEACOM had restored all services on both SMW4 and IMEWE cable systems,” read an announcement on Seacom’s news page. Egyptian authorities are interrogating ...
A Big Deal For The Middle East, Daily Deals Site Cobone Acquired By Tiger Global Management
After months of speculation that its backer Jabbar Internet Group were shopping around for a sale, the leading Middle Eastern daily deals site Cobone has been acquired by investment firm Tiger Global Management. The size of the deal remains undisclosed, though my understanding is that the figure of $40 million that’s been touted building up to this sale isn’t far off the mark. Furthermore, the acquisition -- which sees Jabber Internet Group exit entirely -- is said to leave Dubai-based Cobone with additional capital to further its ambitions in the region, while its Irish founder and CEO Paul Kenny, along with other key members of the management team, will remain with the company.
Samwer’s Rocket Internet Picks Up Its First Luxury Goods Investor: PPR Puts $13M Into Lamoda And Dafiti’s Holding Company
Another new chapter is opening up for Rocket Internet, the incubator started and run by the Samwer Brothers in Germany. The company is today announcing that PPR, luxury and sport & lifestyle group, is taking a €10 million investment in Bigfoot I, the Rocket holding company that controls Russian fashion commerce site Lamoda, South American fashion site Dafiti and also has a stake in Namshi, the Samwer's fashion effort in the Middle East. It's the first strategic investment made in a Rocket e-commerce startup by a fashion operation.
RIPE Region Runs Out of IPv4 Addresses
New submitter 8-Track writes "The RIPE NCC, the Regional Internet Registry for Europe, the Middle East and parts of Central Asia, distributed the last blocks of IPv4 address space from the available pool. This means they are now distributing IPv4 address space to Local Internet Registries (LIRs) from the last /8. An ISP may receive one /22 allocation (1,024 IPv4 addresses), even if they can justify a larger allocation. This /22 allocation will only be made to LIRs if they have already received an IPv6 allocation from an upstream LIR or the RIPE NCC. Time to move to IPv6!"
Found more than 1 month ago on channel Slashdot