Albert Saporta, a director of Geneva-based investment advisory firm AIM&R, sent an open letter to Naspers CEO Bob van Dijk accusing him of destroying R334 billion ($26 billion U.S.) of shareholder value since his appointment about three years ago, and challenging him to unbundle Tencent.
A few weeks ago, we reported on Auto1 Group’s latest funding round, which amounted to €360 million ($405 million U.S.) on a reported valuation of $2.8 billion U.S.. Shmuel Chafets, general partner of VC Target Global, a participant in the funding round, now sits on the board of Auto1 Group. He recently conducted an interview with start-up magazine Gruenderszene.de. We extracted the following quotes.
German media today reported the conservative Polish government is mulling the idea of reducing foreign ownership in Polish media. It is reportedly drafting the so-called “Re-Polonization Act” to be ready for implementation late in June.
Payment systems, credit extension, innovative ways to buy-now-and-pay-later, and new currencies (such as Bitcoin) have literally exploded onto the classifieds scene in the last few months.
Funke Media Group announced that its subsidiary Absolventa GmbH, which operates career websites for young job seekers, had acquired a 100-percent stake in Trendence, a market research firm based in Berlin. The selling price was not disclosed.
Axel Springer is now a 100-percent owner of the Belgian property site Immoweb.be, which generated €36 million ($40 million U.S.) in revenue in FY2016 and is valued at €150 million ($165 million U.S.), as reported by Belgian media.
Media24, a subsidiary of Naspers, assembled a team of international experts to help it accelerate its transformation to a digital media company with interests in e-commerce and classifieds in South Africa and abroad.
We’ve seen OLX Group, the classifieds subsidiary of Naspers, grow its portfolio from the horizontal platform OLX in about 40 countries to an auto vertical (Stradia), a real estate vertical (Storia), and a heavy-machines vertical (Tradus). Now, another brand is on its way: OLX Group will launch a global brand for online services - probably still this year.
Devin Wenig, president and CEO of EBay Inc., released a comprehensive, personal statement with the Q1 financial results of EBay Inc. earlier this week. We publish extracts and a summary of the Q1 results with a focus on the classifieds portfolio.
In March, Gumtree South Africa launched a revamped, modern-looking site and today it dumped its well-established, but old-fashioned, logo for a cool, modern logo. Do you think it was a successful redesign?