Posts filtered by tags: Naspers[x]


 

Pi Day wasn’t pleasant for a lot of tech execs

Pi Day is apparently New Job day for tech execs and VCs these days. Leaving: Lee Fixel It’s not every day that one of the top VC investors heads out from their shop. TechCrunch’s @cookie aka Connie Loizos has the story: Lee Fixel, the low-flying head of Tiger Global’s private equity business, is leaving at the end of June, the firm announced today in a letter sent to clients and seen by Reuters . Scott Shleifer and Chase Coleman will continue as co-managers of the portfolios Fixel has oversee...
Tags: Google, Facebook, Asia, Finance, Ipo, India, Softbank, Digital, America, Tech, Tesla, Walmart, Harvard, United States, Credit Suisse, Korea


Can there be too much competition between startups?

Competition is the core of capitalism. Competition between companies lowers prices — on average — and ensures that they are forced to innovate lest they lose their markets to others. Competition between workers ensures that people strive to do their best work lest their jobs go to more qualified or faster or cheaper replacements. Obviously, there is a spectrum here from lethargic monopoly to cutthroat competition that causes more problems than it’s worth (environmental damage in the hopes of cut...
Tags: Travel, Amazon, Ecommerce, New York, China, Nigeria, Africa, Palo Alto, Alibaba, Venture Capital, JD.com, Silicon Valley, Starbucks, Travis Kalanick, Naspers, Reuters


African e-commerce startup Jumia files for IPO on NYSE

Pan-African e-commerce company Jumia filed for an IPO on the New York Stock Exchange today per SEC documents and confirmation from CEO Sacha Poignonnec to TechCrunch. The valuation, share price, and timeline for public stock sales will be determined over the coming weeks for the Nigeria headquartered company. With a smooth filing process, Jumia will become the first African tech startup to list on a major global exchange. Poignonnec would not pinpoint a date for the actual IPO, but noted the min...
Tags: Startups, TC, Ipo, Nigeria, Africa, Tech, E-commerce, Ceo, Economy, Smartphones, Companies, Egypt, Morocco, Kenya, SEC, Online Retail


Nigeria’s Gloo.ng drops consumer e-commerce, pivots to e-procurement

Nigerian startup Gloo.ng is dropping consumer online retail and pivoting to B2B e-procurement with Gloopro as its new name. The Lagos based venture has called it quits on e-commerce grocery services, shifting to a product that supplies large and medium corporates with everything from desks to toilet paper. Gloopro’s new platform will generate revenues on a monthly fee structure and a percentage on goods delivered, according to Gloopro CEO D. O. Olusanya. Gloopro, which raised around $1 million i...
Tags: Travel, TC, Uber, Business, Nigeria, Africa, Articles, Spokesperson, Unilever, E-commerce, Economy, Egypt, South Africa, Morocco, Kenya, Online Retail


With these numbers, it’s no surprise SoftBank is investing in Latin America

Mary Ann Azevedo Contributor Share on Twitter Mary Ann Azevedo covers startups and tech at Crunchbase News. More posts by this contributor Two Austin-based VC firms are each raising $100M funds Investor momentum builds for construction tech After SoftBank announced its plans to launch a $5 billion innovation fund in Latin America, we reached out to the good folks at the Latin American Venture Ca...
Tags: TC, Column, Mexico, Softbank, US, Tech, Walmart, Austin, Colombia, Venture Capital, Andreessen Horowitz, Latin America, Movile, Nubank, Naspers, Sao Paulo


Icasa expresses concern over MultiChoice listing despite complaint

MultiChoice was previously part of Naspers and unbundled from its parent ​co​mpany in September 2018
Tags: Naspers, MultiChoice, ICASA


Startups Weekly: Flexport, Clutter and SoftBank’s blood money

The Wall Street Journal published a thought-provoking story this week, highlighting limited partners’ concerns with the SoftBank Vision Fund’s investment strategy. The fund’s “decision-making process is chaotic,” it’s over-paying for equity in top tech startups and it’s encouraging inflated valuations, sources told the WSJ. The report emerged during a particularly busy time for the Vision Fund, which this week led two notable VC deals in Clutter and Flexport, as well as participated in Doo...
Tags: Startups, TC, Lyft, Uber, Y Combinator, Hong Kong, London, Pinterest, Saudi Arabia, Softbank, San Francisco, Startup, Tech, Venture Capital, Tencent, The Wall Street Journal


Uber is reportedly close to making a tactical exit from India’s food delivery industry

Uber has said adamantly that it won’t exit India (or any more markets) following a hattrick of retreats from China, Russia and Southeast Asia, but does that include its food delivery business? The answer could well be yes. If media reports are right, Uber is on the cusp of a tactical exit from India’s food delivery industry. India’s Economic Times is reporting that Uber is in the final stages of a deal that would see Swiggy, the food delivery service that recently raised $1 billion and expand...
Tags: Food, Uber, Asia, China, Russia, Southeast Asia, India, Tech, Companies, United States, Alibaba, Transport, Tencent, Foodpanda, Zomato, Carsharing


Private equity firms win over Scout24 with improved $6.4 billion bid: Reuters

Hellman & Friedman and Blackstone have won over Scout24 after raising their offer for the online classifieds group to 5.7 billion euros ($6.4 billion) including debt, setting up the biggest takeover of a listed German company by private equity. The investors said in a statement on Friday that Scout24’s management and supervisory board supported the sweetened bid of 46 euros a share. Last month, the German company rejected an offer of 43.50 euros per share. Scout24 shared jumped 11.8 percent in F...
Tags: Europe, UK, Germany, Trends, Tech, Frankfurt, South Africa, Deutsche Telekom, Schibsted, Zoopla, Morgan Stanley, Blackstone, Naspers, Reuters, Elliott, Liberum


India’s Swiggy goes beyond food to offer product delivery from local stores

Swiggy, the Indian food delivery service, has made its much anticipated moved into general deliveries today after it announced its new ‘stores’ product. The move has been speculated since as early as 2017, but recent developments have taken the company closer towards the expansion. Last September, Swiggy picked up delivery service SuprDaily in an acquisition while the company went on to raise a $1 billion funding round in December. That round was led by Naspers, it put Swiggy’s valuation to $...
Tags: Amazon, Food, Ecommerce, Asia, India, Tech, Companies, Tencent, Retail, Bank, Food And Drink, Stores, Websites, Foodpanda, Food Delivery, Zomato


BeliMobilGue raises $10M for its used-car sales platform in Indonesia

BeliMobilGue, a used car sales platform in Indonesia, has fueled up with a $10 million Series round for the race to dominate the automotive market in Southeast Asia’s largest economy. The company was started in 2017 as a joint venture between Europe’s Frontier Car Group (FCG) and Intudo Ventures, a VC firm focused on Indonesia. BeliMobilGue said today that the capital came from FCG and new investors, which include Tunas Toyota — the authorized dealership for Toyota cars in Indonesia. It’s ...
Tags: Google, Startups, Ecommerce, Asia, Europe, Balderton Capital, Indonesia, Finance, Southeast Asia, Africa, Companies, Automotive, Toyota, Java, Latin America, Partech Ventures


Africa Roundup: Zimbabwe’s net blackout, Partech’s $143M fund, Andela’s $100M raise, Flutterwave’s pivot

Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor Partech is doubling the size of its African venture fund to $143 million Zimbabwe’s government faces off against its tech community over internet restrictions A high court in Zimbabwe ended the government’s restrictions on internet and social media last month. After days of intermittent bla...
Tags: Credit Cards, Facebook, Uber, Column, Technology, Money, Maryland, Microsoft, Congress, India, New York City, Nigeria, Africa, San Francisco, Social Media, Tech


Industry moves roundup: Paytm, PayU, Uber, Oyo and more

Industry moves in January 2019 PayU India CEO Amrish Rau will now head financial technology partnerships and investments at PayU’s South Africa based parent company Naspers, reported the Economic Times. Rau will look for fresh acquisitions for Naspers, and will report to PayU CEO Laurent le... ...
Tags: Travel, Uber, News, Internet, India, Netflix, South Africa, Flipkart, Ola, Naspers, Paytm, Economic Times, Oyo, Rau, Industry Moves, Times Group


Daily Crunch: Dropbox acquires HelloSign

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here: 1. Dropbox snares HelloSign for $230M, gets workflow and e-signature Dropbox’s SVP of engineering Quentin Clark sees this as more than simply bolting on electronic signature functionality to the Dropbox solution. For him, the workflow capabilities that HelloSign added in 2017 were key to the purchase. “What...
Tags: Google, TC, London, Tech, Dropbox, Tencent, Naspers, Iab, Open Rights Group, University College, Clark, SVP, Jim Killock, Quentin Clark, Johnny Ryan, Michael Veale


Naspers takes full control of Russian classifieds site Avito in $1.16B deal

South African internet conglomerate Naspers is best known for backing Chinese tech giant Tencent, but it also operates a vast network on of online classifieds businesses. That network just got a little larger after Naspers took full control of Russia-based Avito through a new $1.16 billion all-cash investment to top up its ownership to over 99 percent. Avito is Russia’s top classifieds site, claiming 10.3 million unique daily visitors. It currently has close to 47 million listings covering categ...
Tags: TC, Facebook, Russia, Tech, Tencent, Naspers, Avito, Martin Scheepbouwer, OLX Group, Naspers OLX, Naspers OLX Group, Vladimir Pravdivy, Slando, Bob van Dijk Naspers CEO


Naspers Sees Single Global Classifieds Focus Amid Avito Deal

Africa’s biggest company by market value on Friday said it bought out minority shareholders in Avito BB through its classifieds business OLX Group, increasing exposure to Russia’s e-commerce market and strengthening its global position in the sector. The plan is to consolidate the different local platforms into a single global one, Chief Executive Officer for Classifieds Martin Scheepbouwer said by phone on Saturday. Naspers has transformed itself from a newspaper publisher into a $98 billion ...
Tags: Science, Russia, Africa, Naspers, Tencent Holdings Ltd, Martin Scheepbouwer, OLX Group, Avito BB, Mail Ru Group Ltd


Naspers Sees Single Global Classifieds Strategy After Avito Deal

Africa’s biggest company by market value on Friday announced it bought out minority shareholders in Avito BB through its classifieds business OLX Group, increasing exposure to Russia’s e-commerce market and strengthening its global position in the sector. The plan is to consolidate the different local platforms into a single global one, Naspers Chief Executive Officer for Classifieds Martin Scheepbouwer said by phone on Saturday.
Tags: Science, Russia, Africa, Naspers, Martin Scheepbouwer, OLX Group, Avito BB


Exclusive: Naspers in talks to up stake in Russian classifieds website Avito

South African media and e-commerce Naspers said it was in talks to increase its stake in Avito, confirming a Reuters report that the group was close to taking control of Russia's largest classified advertising platform.
Tags: Money, Russia, businessNews, Naspers, Avito, Reuters


Exclusive: Naspers nears full control of Russian classified platform Avito - sources

South African media and e-commerce group Naspers is nearing a deal to take full control of Russia's largest classified advertising platform Avito by buying the remaining 32 percent it does not already own, two sources told Reuters.
Tags: Money, Russia, businessNews, Naspers


Byju’s buys Osmo for $120M to add blended learning to its $4B digital education business

Weeks after it raised a massive $540 million funding round, Indian education unicorn Byju’s is on the M&A path. The company announced today it has snapped up U.S-based Osmo, a startup that develops apps for kids that use offline input, in a deal worth $120 million. Osmo has raised over $30 million from investors that include Mattel, Sesame Workshop, Upfront Ventures, K9 Ventures and Accel. They were offered a cash option but elected for an all-stock payout, Osmo CEO Pramod Sharma told T...
Tags: Fundings & Exits, TC, Asia, Technology, Education, India, Funding, Kindle, Tech, Ceo, Ipads, United States, Tencent, Bank, Cosmo, TechCrunch


Uber’s India rival Ola nears $6 billion valuation ahead of huge funding round

Ola, India’s local rival to Uber, has seen its valuation jump to nearly $6 billion as it prepares to take in a large round of financing. The ride-hailing firm, which was founded in 2010, has raised around $3.3 billion from investors to date, and it topped that up a little this week. Ola pulled in 520 crore (around $75 million) from existing investor Steadview Capital, according to filings provided to TechCrunch by business signals platform paper.vc. The paperwork indicates that Ola’s bu...
Tags: Fundings & Exits, TC, Uber, Asia, Australia, Ipo, Collaborative Consumption, India, Softbank, Funding, Tech, Automotive, New Zealand, Tencent, Foodpanda, Food Delivery


OLX acquires Aasaanjobs for an undisclosed amount

Classifieds platform OLX has acquired jobs platform Aasaanjobs for an undisclosed amount to pad its recruitment vertical. Aasaanjobs was founded in 2014 and is a portal for blue and grey-collared jobs, available in several Tier I (Mumbai, Delhi, Pune) and Tier II cities (Agra, Bhopal, Lucknow).... ...
Tags: Travel, Mobile, News, Internet, Classifieds, Mergers & Acquisitions, Naspers, OLX, Aasaanjobs, Jobs Classifieds, Mumbai Delhi Pune


Venture capital, global expansion, blockchain and drones characterize African tech in 2018

Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor IBM Africa and Hello Tractor pilot AI/blockchain agtech platform Africa Roundup: Terragon’s Asia acquisition, Twiga Foods’ $10M raise, SimbaPay’s China payment service 2018 saw Africa’s tech sector become more dynamic and international. VC firms on the continent multiplied. There were nume...
Tags: Startups, TC, Facebook, Column, Asia, Microsoft, California, France, China, Berlin, Southeast Asia, Singapore, New York City, Nigeria, Africa, Uganda


Corrected: Food delivery firm Swiggy raises $1 billion in Naspers-led funding round

(Corrects paragraph one to say the company raised $1 billion, not $1 million)
Tags: Money, businessNews, Naspers, Swiggy


Food delivery firm Swiggy raises $1 billion in Naspers-led funding round: Reuters

Online food delivery company Swiggy said it had raised $1 million in its latest funding round, led by South African internet group Naspers Ltd (NPNJn.J). China’s Tencent Holdings Ltd (0700.HK), Hillhouse Capital and Wellington Management Company also took part in the funding round, together with Swiggy’s existing investors, DST Global, Meituan Dianping (3690.HK) and Coatue Management, Swiggy said. Naspers said in a statement it had invested $660 million in Swiggy during this latest round. Swiggy...
Tags: China, India, Trends, Cape Town, Flipkart, Ola, Naspers, Reuters, Makemytrip, Swiggy, Tencent Holdings Ltd, VC Deals, OLX, Byju, Walmart Inc, Naspers Ltd NPNJn J China


Swiggy raises $1B from Naspers and new and existing investors

Swiggy has raised $1 billion in funding led by Naspers, with participation from new investors Tencent, Hillhouse Capital and Wellington Management Company, and existing investors DST Global, Meituan Dianping and Coatue Management. Swiggy will use the funds for expanding its supply through... ...
Tags: Travel, Mobile, News, Internet, Investments, Tencent, Naspers, Online Food Ordering, Swiggy, Wellington Management Company, Hillhouse Capital


Food delivery firm Swiggy raises $1 billion in Naspers-led funding round

Online food delivery company Swiggy said it had raised $1 million in its latest funding round, led by South African internet group Naspers Ltd.
Tags: Money, businessNews, Naspers, Swiggy


Indian food delivery firm Swiggy raises $1 billion in Naspers-led funding round

Online food delivery service provider Swiggy said it has raised $1 billion in its latest funding round, led by South African internet giant Naspers Ltd.
Tags: Money, businessNews, Naspers, Swiggy


Swiggy raises $1 billion funding led by Naspers

Swiggy has announced that it has executed definitive agreements for a US$ 1 billion Series H round of funding led by existing investor, Naspers. The round includes participation from several existing investors including DST Global, Meituan Dianping and Coatue Management, along with new investors Tencent, Hillhouse Capital, and Wellington Management Company. Swiggy’s latest fundraising round is the single largest in India’s food technology sector to date. Swiggy will use the funds to bring more ...
Tags: News, India, US, Blogging, Naspers, Swiggy, DST, Coatue Management


Tencent Joins Naspers in a $1 Billion Funding for India's Swiggy

Naspers led the financing, which snagged new backers Hillhouse Capital and Wellington Management in addition to existing investors DST Global, Meituan Dianping and Coatue. The funding round, which Bloomberg reported on in October, marks Swiggy’s third for 2018 and largest to date.
Tags: Science, India, Bloomberg, Wellington, Naspers, Hillhouse Capital, Tencent Joins Naspers