PLDT Invests $445M In Rocket Internet To Develop Online Payment Services For Emerging Markets

By Catherine Shu

Rupees by Flickr user Gopal Vijayaraghavan

Rocket Internet and Philippine Long Distance Telephone Company (PLDT), a telecom operator, announced today that they have entered into a strategic partnership to develop online and mobile payment products. PLDT will invest €333 million (about $445 million) for a 10 percent stake in Rocket Internet, putting Rocket Internet’s valuation at about $4.5 billion. Read More

Source: Technology