August 10, 2014
On Aug. 7, 2014, one of the leading telecom operators in the Philippines – PLDT (Philippine Long Distance Telephone) – announced that it had entered into a global strategic partnership with Rocket Internet. The collaboration is designed to drive the development of online and mobile payment solutions in emerging markets
We are very excited to embark on this journey with Rocket, stated Napoleon L. Nazareno, president and CEO of PLDT, in a press release. Our investment
The strategic partnership will allow us to leverage our combined strengths in developing online and mobile payment solutions in emerging markets. Rocket has developed a unique platform for establishing new Internet companies and a proven track record in successfully rolling out these businesses in fast growing markets. We expect the partnership to have a pronounced positive impact on our organization.
Rocket and PLDT share a vision for the growth opportunity of Internet and mobile business models in emerging markets, as smartphone penetration increases exponentially, said Oliver Samwer, founder and CO of Rocket Internet, in a press release. We believe in our ability to create significant value together, leveraging the Rocket platform and PLDT’s expertise. Strategic partnerships are a core part of Rocket's strategy to provide great services to consumers and rapidly roll out new Internet based business models across diverse geographies.
This move is in line with PLDT’s strategy of providing relevant and value-enhancing services to its customers, said Manuel V. Pangilinan, chairman of PLDT, in the same release. This new partnership marks a major step forward in the pursuit of our Live Digital! Vision, bringing us even closer to our clients and enhancing PLDT’s innovation capabilities in the digital economy. We will continue to pursue further digital partnerships as one of our key strategic initiatives to drive growth and create value for our stakeholders, whilst leveraging on PLDT’s unique combination of assets.