Naspers
 | |
| Public company | |
| Traded as | JSE: NPN |
| Industry | Ecommerce, Internet, Media |
| Genre | Media |
| Founded | 12 May 1915 |
| Headquarters | Cape Town, South Africa |
Area served | Global |
Key people |
J.P. Bekker (Chair) Bob van Dijk (CEO) |
| Revenue |
 R73.1 Billion (FY 2015)[1] |
|
R1.6 Billion (FY 2015)[1] | |
| Website | www.naspers.com |
Naspers is a broad-based multinational internet and media group, offering services in more than 130 countries. Its principal operations are in Internet communication (classifieds, online shopping, marketplaces, online payments and online services), video entertainment and print media. With a market capitalisation of over $66 billion it is the largest company in Africa and the 7th largest Internet company in the world.[2]
History
De Nationale Pers Beperkt
Naspers was founded in 1915 under the name De Nationale Pers Beperkt (National Press Ltd) as a publisher and printer of newspapers and magazines.[3][4] 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.[5]:290 It was founded by W.A. Hofmeyr, a well-known Cape lawyer. Jannie Marais, a prominent Stellenbosch farmer purchased a quarter of the 20,000 £1 shares in the new company.[5]: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.[6]
In 1918 the company added book publishing to their portfolio[6] which made it one of the most significant media hubs in Africa at the time. In 1985 the company launched the first pay-TV system in the region, M-Net, which marked the company's development from a publisher into a media company.[6]
Public company
Since 1994, the company has been listed on the Johannesburg Stock Exchange (JSE) in South Africa and has designated to be part of the Top 10 index over the past number of years. They also have a Level I American Depository Receipt programme (ADR programme) listing on the London Stock Exchange (LSE) and trade on an over-the-counter (OTC) basis. International investors account for around 50% of their shareholder base.
Nasionale Pers officially changed its name to the currently used 'Naspers' in 1998.[6]
The investment in Tencent has dramatically boosted the Naspers stock price, with the shares up c.900% since 2010, principally due to the c.900% share price gains by Tencent. The company is the most valuable publicly traded business in Africa (August 2017) with a market capitalization of c.USD$93 billion. A unit of international media group Naspers, namely its subsidiary Myriad International Holdings owns a 28.7% stake in Digital Sky Technologies (DST), the Russian firm behind investments in notable Internet companies like Facebook, Groupon and Zynga. China’s Tencent also made a strategic investment (to the tune of $300 million) in DST, 35% of Tencent being owned by Naspers.
In March 2014, Souq.com raised $75 million from Naspers.[7]
Apartheid involvement
Naspers involvement in the establishment of apartheid in South Africa is mired in controversy. Several directors and editors of the firm and its subsidiaries ended up in high office, including D. F. Malan, H. F. Verwoerd and P. W. Botha.[8]
On 25 July 2015, the company issued an apology to the victims and survivors of the apartheid system, but did not acknowledge any involvement in drafting legislation and advocacy on behalf of race supremacist ideologues.
Criticism
26 May 2017, Naspers subsidiary DStv admitted to price fixing and contravening the Competition Act. In a deal struck with the competition commission, the entity agreed to pay R22 million in penalty fees as well as R8 million to the Economic Development Fund. The commission found that the practices restricted competition among the competing companies as they did not independently determine a price.[9]
Brands and subsidiaries
Major brands owned by Naspers include:
- Internet media: Multiply, OLX, Allegro, Buscapé, PayU (including PayU India), Movile, SimilarWeb, Avito[10][11]
- TV media: MultiChoice, SuperSport, DStv, MNet, ShowMax
- Internet providers: MWEB
- Print media: Media24, Grupo Abril (30% of shares)
It also has minority investments in listed, integrated social-network platforms Tencent (SEHK 0700) and Mail.ru (LSE: MAIL).
See also
References
- 1 2 http://www.naspers-reports.com/2015/index.php
- ↑ le Cordeur, Matthew (10 July 2014). "Naspers joins internet Hall of Fame". Fin24. Retrieved 15 October 2015.
- ↑ "Naspers website: Our history". Company history. Naspers. Retrieved 15 March 2015.
- ↑ "Apartheid Inc, the story of Naspers, Media24 and Channel Life". Media Alternatives. 15 November 2011. Retrieved 15 March 2015.
- 1 2 Pretorius, Fransjohan (2014). A History of South Africa: From the Distant Past to the Present Day. Hatsfield, Pretoria: Protea Book House. ISBN 978-1-86919-908-1.
- 1 2 3 4 "Apartheid Inc. – Profile of a racist corporation, June 9, 2010". History Matters. 22 January 2015. Retrieved 15 March 2015.
- ↑ Nair, Dinesh (14 April 2015). "Tiger-Backed Souq.com Said Worth $1 Billion in Fundraising". Bloomberg. Retrieved 25 October 2015.
- ↑ APARTHEID GUNS AND MONEY: A TALE OF PROFIT ISBN Number:9781431424849 Author:VAN VUREN H Publisher:CENTRAL BOOKS Edition:1ST - 2017
- ↑ http://ewn.co.za/2017/05/26/dstv-agrees-to-pay-r22m-in-penalty-fees-after-admits-to-price-fixing
- ↑ "This Craigslist Copycat Gets a Lift From Russia's Recession". 15 March 2016 – via www.bloomberg.com.
- ↑ 4-traders. "Naspers Limited company : Shareholders, managers and business summary | Johannesburg Stock Exchange: NPNJ.N | 4-Traders". www.4-traders.com. Retrieved 2017-06-28.