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Johannesburg – Online retailer Takealot has received a R960
million investment from Naspers.
In a statement issued on Tuesday, it says this follows earlier
investments from both Tiger Global and Naspers in 2015.
The company says it has continued its robust growth since
its merger with Kalahari in 2014, and boasts a stable of businesses including
Takealot.com, Superbalist.com, the fashion etailer, Mr D Food, South Africa’s
largest restaurant food delivery service, and Mr D Courier, its point-to-point
courier service.
“We are super excited about this latest investment as it
will allow us to continue to grow the business in a market with huge potential.
Naspers has been a wonderful supporter of our business and we are grateful for
their ongoing commitment and show of confidence in both the business and the
market. This is great news for our customers and employees alike,” says founder
and CEO Kim Reid.
Read also: Kalahari's sale to Takealot approved
The ecommerce sites notes that online retail accounts for
less than 2 percent of the non-grocery retail market and less than 1 percent of
the total retail market.
However, pointing to international experience, it says
there is clear room for growth, becue online retail accounts for 17 percent of
total retail in China.
Takealot has filed a large merger notification with the
South African Competition Commission in anticipation of finalising the
investment from Naspers, which would make Naspers the majority shareholder in
Takealot.
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