Naspers’s secret? Actually it’s classified
Naspers has made huge expansionary moves since buying its stake in Tencent in 2001, writes Donwald Pressly
Technology giant Naspers’s allied company Prosus, which last year listed on the Amsterdam stock exchange, is best known for its investment in Chinese internet business Tencent. But Naspers, originally founded on Afrikaans newspaper interest, is rapidly becoming one of the world’s biggest e-commerce vehicles.
Almost surreptitiously, Prosus, through its subsidiary the OLX Group, has gobbled up classified advertising businesses — not only in SA but in Europe and emerging markets around the world as well. OLX has, perhaps ironically, considering Naspers’s roots, ripped out the financial backbone of newspapers globally.