Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.
Indian food delivery start-up Swiggy said on Monday it would lay off 1 100 employees, or nearly 14% of its workforce, to cut costs, as a weeks-long nationwide lockdown hits demand.
Naspers-controlled Internet investment firm Prosus is leading a $113-million (R1.7-billion) funding round in Swiggy, India’s largest food delivery platform.
Uber Technologies will sell Uber Eats in India to local rival Zomato in a $172-million deal, underscoring the ride-hailing giant’s effort to cut back on loss-making operations.
When Naspers’s Latin America chief cold-called Alec Oxenford in 2010, he got straight to the point: he wanted to buy a majority stake of the Argentinian entrepreneur’s online classifieds business.
Naspers’s biggest shareholder is considering whether to reduce its R245-billion stake in Africa’s biggest company because of concern it’s overexposed to a single stock, sources said.
Naspers will list on its consumer Internet business on Amsterdam’s Euronext exchange on 17 July, subject to market conditions, in a bid to unlock shareholder value.
Naspers, the most valuable company on the JSE, will prioritise investments in classifieds, financial technology and food — activities that it could possibly hive off with separate share listings in the right circumstances.
Uber Technologies is in talks to sell its Uber Eats operations in India to rival Swiggy, less than two years after it entered the country’s competitive food-delivery business, according to a person familiar with the negotiations.
Just days after announcing it will lead a $540-million funding round in Indian online education start-up BYJU’s, Naspers said on Thursday that it will invest $660-million in Swiggy, India’s largest food delivery platform.