Naspers invests R960 million in Takealot
Takealot has received a R960-million investment from Naspers; an investment which will make Naspers the majority shareholder in the company. This follows investments from Tiger Global and Naspers in 2015. The deal forms part of Naspers’ strategy to invest in internet firms in emerging markets.
Kim Reid (pictured), Takealot CEO, said:
"We are excited about this latest investment as it will allow us to continue to grow the business in a market with huge potential.
Since its merger with Kalahari in 2014, Takealot has continued its growth, boasting a current stable of businesses which also includes Superbalist.com, Mr D Food and Mr D Courier.
Takealot has also filed a merger notification with the South African Competition Commission in anticipation of finalising the investment from Naspers.