In 2015 Tiger Global and Naspers originally invested into Takealot for the first time. Now after the second investments the potential that the South Africa e-commerce market has is clear according to Takealot who have used the initial invest to grow into a market leader.
Since its merger with Khalahari in 2014 the company has expanded their offerings with the e-commerce sites Takealot.com, Superbalist.com, Mr D Food and Mr D Courier.
The deal would make Naspers own the majority Stakeholder in Takealot by adding to the 40% which they already own.
Takealot founder and CEO Kim Reid said that investment will allow the company to continue their growth with in a market which offers huge potential. He added that “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. This is great news for our customers and employees alike,” says Takealot founder and CEO Kim Reid.
“Takealot continues to drive exciting growth and shows great promise in a market we expect to go from strength to strength. We are pleased to support their ambitions to build an enduring e-commerce business for South African consumers and Takealot’s partners alike,” says Oliver Rippel, CEO, B2C e-commerce, Naspers.