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Naspers increasingly mobile

1 Jul 2016

Naspers is further transforming itself into a mobile-first applications business as people, particularly in emerging markets, use smartphones to make transactions.

123RF

Naspers makes the bulk of its revenues from Internet-based business investments, including Chinese Internet service portal Tencent, classifieds operations such as OLX and other e-commerce businesses.

The US65bn global Internet and entertainment group, with operations in more than 130 countries, earns 77% of its revenues offshore, SA accounting for only 23%.

CEO Bob van Dijk says Naspers is experiencing an increase in mobile users across its platforms. He says the company will target high-growth business models that are using mobile applications. Following its investment in US-based Letgo, a global mobile-only classifieds application, it is looking to the US as an added source for innovative platforms with global growth potential.

Many technology companies that are starting up in North America have potential far beyond the US, and Naspers can accelerate the path from innovator to global leader, says Van Dijk. "We are not targeting expansions in specific countries. But we are looking at business models on which we believe we can build a global business."

The Naspers Internet segment recorded a 18% rise in revenue to $8.2bn, benefiting from growth in Tencent and e-commerce businesses. Trading profit for the segment increased 38% to $1.6bn.

But not all Naspers Internet-related businesses are profitable, as some are in developmental stages. According to asset management company Vestact, over the past three years Naspers has spent $2.265bn in various businesses. "Their development spend is clearly focused on businesses that they think are likely to catch more subscribers and users in the coming years," he says. Still, Naspers is not always going to get it right, says Vestact.

Source: Financial Mail

Source: I-Net Bridge

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