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CEO Oliver Samwer. Photo: John Phillips/Getty Images for TechCrunch

Rocket Internet, the German startup factory infamous for copying other companies, said Tuesday that it will delist its stock, citing current greater availability of private capital than when it went public in 2014.

Between the lines: Despite producing and backing a number of successful companies like Zalando and HelloFresh, Rocket Internet's own stock has largely traded below its IPO price of €42.50 ($50.95) a share.

  • Rocket will buy back 8.84% of shares at €18.57 ($22.24) each until Sept. 15, and during a shareholder meeting on Sept. 24, will seek authorization to buy back up to another 10%.
  • Co-founder and CEO Sam Samwer, who owns 4.5% of the company, and Rocket Internet-affiliated Global Founders, which holds 45% of the stock, will retain their stakes.

Go deeper

How we got here: China pulls plug on Ant IPO

Illustration: Rebecca Zisser / Axios

China is the biggest business story on Election Day in America.

What's happening: The country abruptly pulled the plug on Ant Group's IPO, which was expected to happen Thursday and be the biggest public offering ever.

The perils of organizing underground

Illustration: Aïda Amer/Axios

Researchers see one bright spot as far-right extremists turn to private and encrypted online platforms: Friction.

Between the lines: For fringe organizers, those platforms may provide more security than open social networks, but they make it harder to recruit new members.

Resurrecting Martin Luther King's office

King points to Selma, Alabama on a map at his Southern Christian Leadership Conference office in Atlanta in January 1965. Photo: Bettmann/Getty Contributor

Efforts to save the office where Dr. Martin Luther King, Jr., planned some of the most important moments of the civil rights movement are hitting roadblocks amid a political stalemate.

Why it matters: The U.S. Park Service needs to OK agreements so a developer restoring the historic Prince Hall Masonic Lodge in Atlanta — which once housed King's Southern Christian Leadership Conference — can tap into private funding and begin work.