Prosus

From Wikipedia, the free encyclopedia
Prosus N.V.
TypeNaamloze Vennootschap
Euronext: PRX
JSE: PRX
A2X: PRX
AEX component
ISINNL0013654783
IndustryInvestments
Headquarters
Amsterdam
,
Netherlands
Area served
Worldwide
Key people
Koos Bekker
(chairman)
Bob van Dijk[1][2]
(CEO)
Basil Sgourdos
(CFO)
Number of employees
15,677[3]
ParentNaspers Limited
Websiteprosus.com

Prosus N.V., or Prosus, is a Dutch multinational conglomerate company that is the international Internet assets division of South African multinational Naspers.[4] The global investment group is the largest consumer Internet company in Europe, and among the largest technology investors in the world.

Prosus holds a portfolio of international Internet firms, including fintech, and food delivery systems.[5] Products and service of its businesses and investments are used by more than 1.5 billion people in 89 markets.[3]

On 11 September 2019, Prosus's ordinary shares were listed on Euronext Amsterdam and, as a secondary inward-listing, on the Johannesburg Stock Exchange.[6] Subsequent to its IPO, Prosus is still majority owned by Naspers and is the largest consumer Internet company in Europe by asset value.[7] Shares in the company were reported to have "soared on debut,"[8][4] although the company was trading at a significant discount to the value of its portfolio.[9]

Business[]

Prosus' head office is located in the Symphony Building in the Zuidas business district in Amsterdam.

The group's expansion into Internet platforms began in the 1990s,[3] spanning online consumer services, including:

  • E-commerce - including its subsidiary, OLX (100%)
  • Fintech - including its subsidiary, PayU (98.8%)
  • Food delivery - including its subsidiary and associates, iFood (54.8%), Delivery Hero (22.3%) and Swiggy (38.8%)
  • Retail - including its subsidiary, eMag (80.1%)
  • Travel - including its associate, Ctrip (6%)
  • Mobility - Bykea[10]
  • EdTech - Codecademy, Stack Overflow, Brainly, Udemy[11]

It is also the largest shareholder of social Internet platforms:

Prosus is best known for its investments in Tencent, dating back to a 45% share in 2001.[14] In 2019 the company attempted to acquire Just Eat, but lost the bidding war to Takeaway.com.[15]

Acquisitions[]

No Acquisition Date Company Price (USD) Ref
1 June 3, 2021 Stack Overflow $1.8 billion [16][17]
2 June 15, 2021 GoodHabitz $257 million [18][19]

References[]

  1. ^ Inc, Midwest Communications. "Tech investor Prosus reports full-year profit up 6.7%". WKZO. Retrieved 2020-06-29.
  2. ^ "Prosus has R120bn war chest to keep on growing". BusinessLIVE. Retrieved 2020-06-29.
  3. ^ a b c d "Prosus, Prospectus, 26 August 2019" (PDF).
  4. ^ a b Wexler, Alexandra (September 11, 2019). "Introducing Prosus: A Rare European Mega-Tech Stock" – via www.wsj.com.
  5. ^ Schulze, Elizabeth (September 11, 2019). "A $100 billion tech company you've never heard of just listed in Europe". CNBC.
  6. ^ "Prosus - About". www.prosus.com. Retrieved 2021-07-13.
  7. ^ "Naspers Announces Revised Timetable for the Listing of Prosus on Euronext Amsterdam and JSE".
  8. ^ "Prosus debut creates €120bn European tech giant". www.ft.com.
  9. ^ "Naspers, Prosus launch share swap deal to shrink S.Africa discount". Reuters. 2021-05-12. Retrieved 2021-07-13.
  10. ^ Singh, Manish (30 September 2020). "Prosus Ventures leads $13 million investment in Pakistan's ride-hailing giant Bykea". techcrunch.com. Retrieved 30 September 2020.
  11. ^ Dummett, Ben (2 June 2021). "Stack Overflow Sold to Tech Giant Prosus for $1.8 Billion". Wall Street Journal. Retrieved 2 June 2021.
  12. ^ Laura He. "Tencent's main shareholder Prosus nets $15 billion from record stock sale". CNN. Retrieved 2021-04-09.
  13. ^ "Investor relations – Mail.ru Group". corp.mail.ru.
  14. ^ Jolanda van de Beld. "Gouden aankoop brengt Prosus in de problemen". NRC (in Dutch). Retrieved 2021-07-13.
  15. ^ "Takeaway overtreft bod Prosus voor Just Eat". NRC (in Dutch). Retrieved 2021-07-13.
  16. ^ Ch, Prashanth; CEO, rasekar (2021-06-02). "Prosus's Acquisition of Stack Overflow: Our Exciting Next Chapter". Stack Overflow Blog. Retrieved 2021-06-24.
  17. ^ Salter, Jim (2021-06-03). "Stack Overflow sold to tech investor Prosus for $1.8 billion". Ars Technica. Retrieved 2021-06-24.
  18. ^ "Prosus to acquire majority stake in GoodHabitz". Prosus to acquire majority stake in GoodHabitz. Retrieved 2021-06-24.
  19. ^ "Prosus acquires GoodHabitz for $257M - AIM Group". aimgroup.com. Retrieved 2021-06-24.{{cite web}}: CS1 maint: url-status (link)
Retrieved from ""