Investment firm Silvertree has its eye on 2023 listing
Cape Town-based investment firm Silvertree Internet Holdings, which owns Ucook, PriceCheck and other online companies, expects to grow annual revenues to more than $300m (R4.1bn) by 2023 and will consider going public at that time. Launched in 2014, Silvertree employs 300 people and generates annual revenues of about $40m. It bought online price-comparison platform PriceCheck from its e-commerce rival, Naspers, in late 2015. Both groups have been investing heavily in the local internet market, partly on the premise that South Africans will start to consume more services online. Naspers CEO Bob van Dijk said in March the company would pour more funds into its Takealot business, particularly the Mr D Food delivery service. Silvertree expected to see compound organic growth of at least 35% for the next five years, and would also make "further investments in consumer and internet entrepreneurs to help accelerate their businesses", cofounder and MD Manuel Koser told Business Day. "Silver...
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