Naspers’s Prosus is slashing the Brazilian business’s profit forecast to defend it from well-funded competitive rivals.
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The three-year global partnership agreement will scale the use of AI across Prosus portfolio companies.
Prosus expects adjusted profit at its e-commerce business to exceed its guidance and reach $435-million this fiscal year.
Naspers subsidiary Prosus plans more listings after last month’s Indian initial public offering of Swiggy.
Naspers and Prosus companies such as iFood and OLX are sharing AI expertise for business growth.
A trade union-linked Canadian-based share association has taken new Naspers CEO Fabricio Bloisi to task.
Newly appointed Naspers and Prosus CEO Fabricio Bloisi has promised more of the same in strategy, with a focus on AI.
Fabricio Bloisi will replace Bob van Dijk as group CEO of Naspers and its European-listed spinoff, Prosus.
The Naspers-controlled Internet investment firm has agreed to pay as much as €1.8-billion to acquire a further 33.3% stake in Brazil’s iFood.
Prosus is in talks to increase its stake in iFood, Latin America’s biggest food delivery start-up, amid a wave of consolidation in the industry, people with knowledge of the matter said.