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Naspers is shutting down major ecommerce sites from MIH SA

21 Feb 2014

Emerging markets media and internet giant Naspers looks set to shut down a number of ecommerce sites run by its online investment arm MIH. At least three of the sites affected are part of the company's African Internet Accelerator (AIA) programme.

Naspers is shutting down major ecommerce sites from MIH SA

Ventureburn sources say that the collapse of the sites will come with job losses and a major restructuring. According to a well placed source, a number of the South African ecommerce investments made by MIH in the last few years will be dissolved, with some parts being absorbed into larger Naspers players such as Kalahari.

Read the full article on Memeburn.

Source: Memeburn

Launched in April 2010 by Matthew Buckland, Memeburn is a news and opinion platform tracking tech culture, innovation and business. It plays particular attention to the web, mobile, social media, online media and social networking fields. Key opinion-leaders contribute to Memeburn, providing their insights on the online industry. Subscribe via email or RSS for regular updates. Follow memeburn on Twitter at @memeburn.

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