The company which invests in and develops online business came in at the high-end of its pricing at €42.50 ($53.65), which valued the company at €6.7 billion. The moment the Frankfurt bell rang the stock began to drop immediately losing 10% of the offering price. Rocket Internet stock declined as far as €36.66 before recovering but still closed the day 7.6% down from its initial price.

Rocket Internet Doesn't Soar In Debut

Rocket Internet founded in 2007

Rocket Internet GmbH (ETR:RKET), one of the largest startup incubators in the world, was founded by brothers Marc, Oliver and Alexander Samwer in 2007. The brothers are known for their cloning of websites and did just that with Ebay in 1999 with an eye to the German market. They’ve also closed sites like eHarmony and Pinterest. Rocket generally starts the companies, hires staff while doing the initial marketing and provide management advice before selling the company or taking it public.

It marks a rough week for German initial public offerings. On Wednesday, the online fashion retailer ZALANDO SE (ETR:ZAL) listed on the Frankfurt exchange as well and while the highly anticipated IPO charged up over 12% before settling into a closing price below its offering price. Many analysts were disappointed and surprised when Zalando shares fell. Somewhat ironically, given today’s offering, Zalando is one of Rocket’s most successful ventures.

This week was suppose to be the week where German tech stocks were suppose to shine and show that world what is coming out of Germany. But both have largely failed to do that with these to offerings. However, there are some who don’t worry.

Two whom aren’t worried

“Our company isn’t interested in the first price,” said Rocket Chief Executive and co-founder Oliver Samwer in an interview with broadcaster N-TV. “We’re oriented for the long-term.”

“Oliver is excellent in giving investors the feeling that he and his brothers understand the digital business,” Joel Kaczmarek, author of Samwer biography “The Godfathers of the Internet,” said in an e-mail. “His vision of conquering the different developing Internet markets seems actually very plausible and triggers the interests of investors that do not want to miss out on those opportunities.”

If that is indeed the case, expect Rocket Internet to bounce right back.