Internet group Naspers will continue to scour the globe for online investments following its R1.4bn injection into used-car company Webuycars, says CEO Bob van Dijk. The investment was done by Naspers’s classifieds business, OLX Group. Naspers is sitting on a sizeable cash pile after selling its entire stake in India’s Flipkart for $2.2bn (about R33bn) and raising HK$77bn (about R146bn) by cutting its stake in Tencent. "The reason why we freed up that money was because we saw so much opportunity in our three core pillars [classifieds, online food delivery and fintech]. And we said we have more ambition than we can fund," Van Dijk said on Tuesday. "Webuycars fits exactly with what we want to do … in classifieds, we realised that people want more convenience, some people don’t want to go through the trouble of selling things themselves," he said.

Webuycars, which offers a car-buying service to sellers, would "work together" with the group’s Autotrader classifieds business, Van D...

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