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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.

2 hours ago - Health

CDC director says politics didn't play a role in abrupt mask policy shift

Centers for Disease Control and Prevention Director Rochelle Walensky told Fox News Sunday that political pressure had nothing to do with the agency's sudden announcement that fully vaccinated Americans can go without masks in most indoor settings.

Why it matters: Emerging evidence shows vaccinated people are less likely to transmit the virus, as COVID-19 cases and deaths drop. But the responsibility to uphold the abrupt policy change falls to individuals and businesses.