Naspers will invest a further $500-million into US mobile classifieds platform letgo. Duncan McLeod interviews Naspers CEO Bob van Dijk and letgo co-founder Alex Oxenford about the investment.
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Tencent slumped after the Chinese social media giant reported shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain.
Naspers, Africa’s largest company by value, plunged the most in almost 10 years in Johannesburg trading after Chinese Internet giant Tencent posted earnings that missed analyst estimates.
The Chinese Internet giant, best known for its popular games and ubiquitous messaging services, has shed more than $150-billion in market value since a January peak.
Naspers’s Video Entertainment unit, which has oversight of DStv parent MultiChoice, has created a new Connected Video unit and appointed a CEO to lead it.
The Chinese Internet giant, in which South Africa’s Naspers holds a 31.2% stake, has tumbled 25% from its January peak, erasing about $140-billion of market value.
Naspers is considering the listing of certain parts of its sprawling global media and technology business outside South Africa as the continent’s largest company by market value seeks to reduce its size.
Tencent has become one of the most aggressive promoters of pro-gaming. And it’s hard to overstate the mania that’s gripped China in particular.
Just 10 years ago, publishing and media accounted for 89% of Naspers’s revenue. Today, 79% of its revenue is derived from e-commerce and Internet businesses – and is growing.
Bob van Dijk is rolling in the riches. The CEO of Naspers received almost R1.5-billion in salary, bonuses and vested share options and appreciation rights, during the 2018 financial year, which ended on 31 March.