Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Blue Label Telecoms to change its name as restructuring gathers pace

      11 July 2025

      Get your ID delivered like pizza – home affairs’ latest digital shake-up

      11 July 2025

      EFF vows to stop Starlink from launching in South Africa

      11 July 2025

      Apple plans product blitz to reignite growth

      11 July 2025

      Nissan doubles down on South Africa despite plant uncertainty

      11 July 2025
    • World

      Grok 4 arrives with bold claims and fresh controversy

      10 July 2025

      Bitcoin pushes higher into record territory

      10 July 2025

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025

      Grammarly acquires e-mail start-up Superhuman

      1 July 2025

      Apple considers ditching its own AI in Siri overhaul

      1 July 2025
    • In-depth

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025
    • TCS

      TCS+ | MVNX on the opportunities in South Africa’s booming MVNO market

      11 July 2025

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025

      TCS+ | First Distribution on the latest and greatest cloud technologies

      27 June 2025
    • Opinion

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Naspers to pump R1bn into Takealot

    Naspers to pump R1bn into Takealot

    By Duncan McLeod11 April 2017
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Takealot co-CEO Kim Reid

    JSE-listed media and e-commerce giant Naspers has announced it will invest R960m in South African e-retailer Takealot Online — which owns Takealot.com and other assets — in the process taking a majority stake in the company.

    In a statement on Tuesday, Naspers said the investment follows a 2015 investment from both Tiger Global Management and Naspers and “underlines the continued commitment to Takealot and confidence in the potential of South Africa’s e-commerce sector”.

    Naspers-owned Kalahari.com merged with Takealot on 1 February 2015, with Naspers and Tiger Global taking equal stakes of about 41% in the business. That deal was done mainly to create scale, the companies said at the time.

    Takealot was launched in mid-2011 after Tiger Global and Kim Reid, a former Naspers executive and now Takealot CEO, acquired e-retailer Take2 and relaunched it with the aim of building South Africa’s biggest e-commerce company.

    “Takealot has continued its robust growth since its merger with Kalahari,” Naspers said on Tuesday.

    “Retail remains a highly competitive market in South Africa, and online retail accounts for less than 2% of the non-grocery retail market and less than 1% of the total retail market,” Naspers said.

    “With online retail penetration, according to Euromonitor, in the teens in the US and UK retail markets, and at 17% in China, the potential in South Africa is clear to see.”

    Reid said in the statement that Takealot is “super excited” about the new investment as it will help fund growth in a market with “huge potential”.

    “Naspers has been a wonderful supporter of our business and we are grateful for their ongoing commitment and show of confidence in both the business and the market,” he said.

    The Naspers investment is subject to approval by South Africa’s competition authorities. “Takealot has filed a large merger notification with the Competition Commission in anticipation of finalising the investment from Naspers, which would make Naspers the majority shareholder in Takealot.”

    Reid told TechCentral via phone on Tuesday that despite Naspers’s planned new investment, the control structure of Takealot will remain unchanged. Naspers, he said, is acquiring non-voting shares. The board will continue to have two directors from Naspers and two from Tiger Global, plus Reid as fifth director. On a fully diluted basis, Naspers will hold about 53,5% of the equity and Tiger Global about 34% following the conclusion of the investment.

    The planned deal comes just two weeks after US online retail giant Amazon.com agreed to buy Dubai-based online retailer Souq.com from Naspers and Tiger Global Management, among other shareholders. Souq is a significant player in the Middle Eastern e-commerce space.

    Reid declined to say if the Amazon deal was in any way related to the decision by Naspers to invest new money in Takealot, saying Naspers would be able to answer that question. Naspers investor relations head Meloy Horn couldn’t immediately be reached for comment.  — © 2017 NewsCentral Media



    Amazon Amazon.com Kim Reid Naspers Souq Souq.com Takealot Takealot.com Tiger Global Management
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleNyati announces shake-up at Altron
    Next Article IS ‘in talks’ to buy Dark Fibre Africa

    Related Posts

    The satellite broadband operators taking on Starlink

    9 July 2025

    China’s Temu ups ante with South African warehouse launch

    9 July 2025

    TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

    4 July 2025
    Company News

    $125-trillion traded: Binance redefines global finance in just eight years

    11 July 2025

    NEC XON welcomes HPE acquisition of Juniper Networks

    11 July 2025

    LTE Cat 1 vs Cat 1 bis – what’s the difference?

    11 July 2025
    Opinion

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.