The Naspers Ecosystem, Part 1: Classifieds

The general narrative around Naspers slices the company into two pieces: its Tencent stake and “other businesses”. Through either prodigious foresight or sheer luck, Naspers go into Tencent on the ground floor, investing ~$30m for 35% of the company in its infancy. Since then, Naspers has sold a portion of this investment, but its current …

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