PLDT, the telephone company in the Philippines, is paying the equivalent of €333 million to acquire a 10 percent stake in Rocket Internet, with the idea of jointly developing new technologies for mobile and online payments for the developing countries. Founded by the three Samwer brothers in 2007, Rocket Internet claims to be the biggest provider of internet-related services outside the U.S., with a turnover of more than €700 million in 2013. As an incubator of e-commerce platforms, it has participated in the early financing rounds for Zalando and other similar ventures around the world.