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";s:4:"text";s:7489:"It sold a part of its stake in March 2018, raising some $10 billion. While WeChat began as a messaging app, it's evolved into much more than that. And it owns the majority of Supercell, the Finnish mobile gaming powerhouse behind "Clash of Clans," "Clash Royale," and "Brawl Stars.". [20] Notably, the market value of its Tencent holdings was greater than the market capitalization of the firm itself. Tencent still owns a 5% stake in Activision, which is worth about $2.5 billion after the stock's 400% rally over the past five years. "For all intents and purposes WeChat is your phone, and to a far greater extent in China than anywhere else, your phone is everything," analyst and Stratechery founder Ben Thompson wrote in 2017. It owns US game studio Riot Games and has a substantial stake in Epic Games, the company behind "Fortnite.". It went on to say that Tencent will be purchasing the remaining shares and delisting Funcom on the Oslo … He was living in Woodlands, but the ITE he was attending was in Simei. on October 1, 2020 at 8:58PM PDT. Naspers purchased 46.5 percent of Chinese internet company Tencent, owner of WeChat, and an array of fintech apps and mobile games, from early investors, including PCCW and IDG Capital[18] (then a start-up), in 2001. [12], In 2015, Media24 CEO Esmare Weideman apologised for Naspers's role in supporting apartheid. It was included in the Prosus spin-off in 2019. Naspers Labs, a partnership with RLabs and its founder, Marlon Parker, was also launched in 2019, as an economic initiative for unemployed youth in South Africa.[28]. as well as other partner offers and accept our, Visit Business Insider's homepage for more stories, according to Bloomberg's Billionaires Index, Tencent is the most powerful gaming company in the world, While TikTok is getting the most attention, Trump's ban will eviscerate WeChat, which serves as a lifeline to China for the app's millions of US users. Naspers’ video entertainment business was spun off as MultiChoice Group, on 27 February 2019, represented as MCG on the Johannesburg Stock Exchange. By clicking 'enter', you agree to GameSpot's However, everything changed when Qidian—a Chinese webnovel site backed by Tencent, a Chinese conglomerate with a net worth of 583 billion dollars —came into the picture. Today, Ma is one of the richest people in the world with a net worth of $55.5 billion, according to Bloomberg's Billionaires Index. Myriad International Holdings, a subsidiary of Prosus, owns a 28.7 percent stake in Digital Sky Technologies (DST), the Russian firm behind investments in Internet companies like Facebook, Groupon, and Zynga. Naspers owns, or has controlling interest in, various businesses, including Prosus, Media24, and Takealot. Account active At that time, its initial investment of $32 million was valued at over $175 billion. ", "Apartheid Inc, the story of Naspers, Media24 and Channel Life", "From 'people's press' to global superstar", "Apartheid Inc. – Profile of a racist corporation, June 9, 2010", "Declassified: Apartheid profits – the tap root of the National Party", "Chronicle of a coming of age? In March 2014, Souq.com raised $75 million from Naspers.[22]. They said Naspers newspapers had formed an integral part of the power structure which implemented and maintained apartheid through, for instance, supporting the NP in elections and referendums. Naspers was founded, in 1915, as De Nasionale Pers Beperkt (National Press Ltd) as a publisher and printer of newspapers and magazines. [21], Subsidiaries and investments include Prosus, Media24 and Takealot. The investment paid off for Naspers in dramatic fashion, boosting Naspers stock price over time,[19] and making it the most valuable publicly traded business in Africa by 2017. [8]:290 Naspers first published the Afrikaans language daily De Burger (later renamed Die Burger) in June 1915, which was followed by its first magazine, De Huisgenoot (later Die Huisgenoot), in 1916.[12]. Tencent also has a massive comics and animation business, with its app pulling in 120 million monthly active users, according to TechCrunch. Run by billionaire Pony Ma, Tencent is now worth around $69 billion — more than Berkshire Hathaway and Johnson & Johnson, and nearly as much as Alibaba. The financial terms of Tencent's investment into 10 Chambers were not disclosed. Terms of Use and While Ma oversees the company, Tencent's day-to-day operations are managed by its president, Martin Lau, according to Bloomberg. For the future of the studio as a whole; it makes it even more exciting.". "We needed to find a partner that gives us the creative freedom to reach these new heights, while at the same time support our long-term commitment to the GTFO community. In fact, Tencent is the biggest video game company in the world. Vosloo ended his letter, promising funding to the NP in Transvaal, by adding that "our newspaper Beeld in the Transvaal is your ally and we trust that this formidable combination will wipe out the competition. Tencent has said it will continue to work with US officials to achieve a "long-term solution," and that the company "has always incorporated the highest standards of user privacy and data security.". The extra resources from the Tencent investment will allow GTFO to become an "even more terrifying experience," Holm said. Tencent launched WeChat in 2011 with the goal of allowing users to send messages over the internet, much like WhatsApp. Since 1994, the company has been listed on the Johannesburg Stock Exchange in South Africa, and has been designated as part of the Top 10 index over the past several years. Want us to remember this setting for all your devices? In October 2018, Naspers launched its business start-up funding initiative Foundry in South Africa. [6][7] A group of prominent Cape Afrikaners decided, in December 1914, at a meeting in Stellenbosch, to form a publishing company that would support Afrikaner nationalism,[8]:290 in the wake of the Boer Wars. Naspers Limited is a multinational consumer Internet company headquartered in South Africa. As of 2018, Naspers had approximately a 31 percent stake in Tencent, becoming its largest shareholder,[4][5] and Africa’s biggest public company. Researchers at Citizen Lab recently found that WeChat has been monitoring sensitive keywords and images sent by users overseas and using the findings to help it train its censorship algorithms in China. As of 2018, Naspers had approximately a 31 percent stake in Tencent, becoming its largest shareholder, and Africa’s biggest public company. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider You need a javascript enabled browser to watch videos. since. Share values gained over 25 percent during its IPO, with Prosus designated a market value exceeding 125 billion pounds ($138 billion USD). Naspers owns, or has controlling interest in, various businesses, including Prosus, Media24, and Takealot. Plus, its messaging apps, WeChat and QQ, are used by more than two-thirds of Chinese people, according to Bloomberg. In 2014, Naspers acquired 95% of OLX, a global online marketplace. [14][15] Nasionale Pers officially changed its name to Naspers in 1998. In 2019,[29] Naspers listed its international internet assets on Euronext Amsterdam, as Prosus,[30] becoming Europe’s largest consumer internet company. 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