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.
In Estonia, the country’s largest media group Eesti Meedia signed a letter of intent with 24m2 aimed at concluding a sale agreement of 24m2’s real estate site City24.ee.
For the year ended March 31, 2017, the company posted revenue growth of 20 percent to $20.72 million (Rs132.6 crore). The turnover consists of online revenue from operations and does not include any group company revenue
The Berlin-based mobile marketplace for used and new stuff that features videos instead of photos, announced it has raised $4.9 million in a seed round.
Blue-collar recruitment site Aasaanjobs.com acquired Noida-based rival mHire in a cash-and-stock deal, reported Hindustan Times’ business paper Mint. The acquisition will help expand Aasaanjobs.com’s presence in North India and enable them to pool their respective clients. Aasaanjobs is based in Mumbai.
In many ways, Markafoni.com was the pioneer of e-commerce in Turkey. It was the first website to introduce the private-shopping concept to Turkey, the first to have a courier company with a branch office on the company premises and the e-commerce site in Turkey to open offline stores. No-one expected Markafoni to close down. So, when the news broke, it was reported in every national newspaper and on many news websites.
Despite a year characterized by economic uncertainty and a fall in consumer confidence, Auto Trader, the U.K. and Ireland's largest digital automotive marketplace, has posted healthy full-year financial results.
The timing is a surprise, but it has long been evident that Swedish investment company Kinnevik wasn't happy with Rocket Internet - and wanted to get out. This week, Kinnevik sold its remaining 10.9 million shares (6.6 percent) in Rocket Internet at €20 per share.
Kuala Lumpur-headquartered Frontier Digital Ventures (ASX: FDV) invested $3.1 million AUD in auto site AutoDeal (Philippines), and $1.6 million AUD ($1.2 million U.S.) in real estate site Propzy (Vietnam).
French start-up Clustree just raised €7 million ($7.9 million U.S.) in a Series A funding round from Creandum, Idinvest Partners, and a historic shareholder Alven Capital.