Naspers to increase stake in Takealot
Takealot founder and CEO Kim Reid says the latest investment will allow the group to continue to grow the business in a market with huge potential
Naspers will invest about R1bn in Takealot Online in an exchange for a majority stake in the e-commerce group. The investment will boost Takealot’s expansion with additional products and services. Takealot, which merged with Naspers-owned business Kalahari in 2014, boasts a number of businesses including general online retailer Takealot.com, fashion online platform Superbalist.com, restaurant food delivery service Mr D Food and Mr D Courier, a courier service. The merger resulted in Naspers becoming a 42% owner in the combined entity. Following the latest investment, Naspers’ total ownership will increase to 53.5%. Tiger Global will own 34.2%, while the remaining 12.3% will be owned by management, staff and other minorities. Takealot founder and CEO Kim Reid said that the latest investment would allow the group to continue to grow the business in a market with huge potential. According to Takealot, retail is a highly competitive market in SA and online retail accounts for less than ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.