This is the end of our journey.”Germany-based Rocket Internet – one of the biggest companies in the world which supports and invests in online companies – was the parent company of Jovago in Pakistan. Jovago wound up the business after it failed to court a new investor. He said the parent company, whose business was to invest and help flourish online companies, had invested in Jovago to groom and later sell it to suitable investors. Despite an environment conducive for online business and being in the market with no or little competition, Jovago was not quite profitable. According to market sources, the holding company asked Jovago administration to meet its own expenditures or search for an investor.

Source: The Express Tribune December 31, 2017 08:15 UTC