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| In March 2022, Prosus announced it was writing off its 25.9% stake (worth approximately US$700m) in social media company ], after VK's CEO ] was put on a U.S. sanctions list.<ref>{{cite news|title=Prosus to write off $700 mln stake in Russia's VK Group|date=7 March 2022|publisher=Reuters|url=https://www.reuters.com/business/finance/dutch-investor-prosus-write-off-700-million-stake-vk-group-2022-03-07/}}</ref><ref>{{cite web|title=Directors resign from VK board|url=https://www.prosus.com/news/directors-resign-from-vk-board/}}</ref> | In March 2022, Prosus announced it was writing off its 25.9% stake (worth approximately US$700m) in social media company ], after VK's CEO ] was put on a U.S. sanctions list.<ref>{{cite news|title=Prosus to write off $700 mln stake in Russia's VK Group|date=7 March 2022|publisher=Reuters|url=https://www.reuters.com/business/finance/dutch-investor-prosus-write-off-700-million-stake-vk-group-2022-03-07/}}</ref><ref>{{cite web|title=Directors resign from VK board|url=https://www.prosus.com/news/directors-resign-from-vk-board/}}</ref> | ||
| == Controversy == | |||
| Following the ] which began on February 24, many international, particularly Western companies pulled out of Russia. Unlike most of its Western competitors, Prosus has been slow to announce any disinvestments or scaling back of its operations in Russia, drawing criticism. The criticism concerned in particular its ] service (a subsidiary of ]), which among others publishes advertisements about recruiting to the Russian army.<ref>{{Cite web |last=Pikuła |first=Rafał |date=18 March 2022 |title=Firma powiązana z Grupą OLX pomaga w rekrutacji do rosyjskiej armii. Z rynku wycofać się nie chce |url=https://wyborcza.biz/biznes/7,177151,28232719,w-rosji-agentow-i-zolnierzy-szukaja-na-portalu-ogloszeniowym.html?_ga=2.246186564.1580742584.1646745852-188646076.1645893461&disableRedirects=true |access-date=2022-03-18 |website=wyborcza.biz |language=pl}}</ref><ref>{{Cite web |last=Khumalo |first=Sibongile |title='Too early' to decide fate of Naspers-owned Russian classified ads business |url=https://www.news24.com/fin24/companies/ict/too-early-to-decide-fate-of-naspers-owned-russian-classified-ads-business-20220301 |access-date=2022-03-18 |website=Fin24 |language=en-US}}</ref> | |||
| == Acquisitions == | == Acquisitions == | ||
Revision as of 06:05, 19 March 2022
Internet Investment division of Naspers| [REDACTED] | |
| Company type | Naamloze Vennootschap |
|---|---|
| Traded as | Euronext: PRX JSE: PRX A2X: PRX AEX component |
| ISIN | NL0013654783 |
| Industry | Investments |
| Headquarters | Amsterdam, Netherlands |
| Area served | Worldwide |
| Key people | Koos Bekker (chairman) Bob van Dijk (CEO) Basil Sgourdos (CFO) |
| Revenue | 5,467,000,000 United States dollar (2024)  |
| Operating income | 923,000,000 United States dollar (2024) |
| Net income | 1,300,000,000 United States dollar (2024) |
| Total assets | 152,427,000,000 United States dollar (2024) |
| Number of employees | 15,677 |
| Parent | Naspers Limited |
| Website | prosus |
Prosus N.V., or Prosus, is a Dutch multinational conglomerate company that is the international Internet assets division of South African multinational Naspers. 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. Products and service of its businesses and investments are used by more than 1.5 billion people in 89 markets.
In September 2019, Prosus's ordinary shares were listed on Euronext Amsterdam and, as a secondary inward-listing, on the Johannesburg Stock Exchange. Subsequent to its IPOTooltip Initial public offering, Prosus is still majority owned by Naspers and is the largest consumer Internet company in Europe by asset value. Shares in the company were reported to have "soared on debut," although the company was trading at a significant discount to the value of its portfolio.
Business
The group's expansion into Internet platforms began in the 1990s, 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 - Byker
- EdTech - Codecademy, Stack Overflow, Brainly, Udemy
It is also the largest shareholder in social Internet platform Tencent (30.86%).
Prosus is best known for its investments in Tencent, dating back to a 45% share in 2001. In 2019 the company attempted to acquire Just Eat, but lost the bidding war to Takeaway.com.
In March 2022, Prosus announced it was writing off its 25.9% stake (worth approximately US$700m) in social media company VK, after VK's CEO Vladimir Kirienko was put on a U.S. sanctions list.
Acquisitions
| No | Acquisition Date | Company | Price (USD) | Ref |
|---|---|---|---|---|
| 1 | June 3, 2021 | Stack Overflow | $1.8 billion | |
| 2 | June 15, 2021 | GoodHabitz | $257 million |
References
- Inc, Midwest Communications. "Tech investor Prosus reports full-year profit up 6.7%". WKZO. Retrieved 2020-06-29.
{{cite web}}:|last=has generic name (help) - "Prosus has R120bn war chest to keep on growing". BusinessLIVE. Retrieved 2020-06-29.
- ^ "Prosus, Prospectus, 26 August 2019" (PDF).
- ^ Wexler, Alexandra (September 11, 2019). "Introducing Prosus: A Rare European Mega-Tech Stock" – via www.wsj.com.
- Schulze, Elizabeth (September 11, 2019). "A $100 billion tech company you've never heard of just listed in Europe". CNBC.
- "Prosus - About". www.prosus.com. Retrieved 2021-07-13.
- "Naspers Announces Revised Timetable for the Listing of Prosus on Euronext Amsterdam and JSE".
- "Prosus debut creates €120bn European tech giant". www.ft.com.
- "Naspers, Prosus launch share swap deal to shrink S.Africa discount". Reuters. 2021-05-12. Retrieved 2021-07-13.
- Singh, Manish (30 September 2020). "Prosus Ventures leads $13 million investment in Pakistan's ride-hailing giant Bykea". techcrunch.com. Retrieved 30 September 2020.
- Dummett, Ben (2 June 2021). "Stack Overflow Sold to Tech Giant Prosus for $1.8 Billion". Wall Street Journal. Retrieved 2 June 2021.
- Laura He. "Tencent's main shareholder Prosus nets $15 billion from record stock sale". CNN. Retrieved 2021-04-09.
- Jolanda van de Beld. "Gouden aankoop brengt Prosus in de problemen". NRC (in Dutch). Retrieved 2021-07-13.
- "Takeaway overtreft bod Prosus voor Just Eat". NRC (in Dutch). Retrieved 2021-07-13.
- "Prosus to write off $700 mln stake in Russia's VK Group". Reuters. 7 March 2022.
- "Directors resign from VK board".
- Ch, Prashanth; CEO, rasekar (2021-06-02). "Prosus's Acquisition of Stack Overflow: Our Exciting Next Chapter". Stack Overflow Blog. Retrieved 2021-06-24.
- Salter, Jim (2021-06-03). "Stack Overflow sold to tech investor Prosus for $1.8 billion". Ars Technica. Retrieved 2021-06-24.
- "Prosus to acquire majority stake in GoodHabitz". Prosus to acquire majority stake in GoodHabitz. Retrieved 2021-06-24.
- "Prosus acquires GoodHabitz for $257M - AIM Group". aimgroup.com. Retrieved 2021-06-24.
{{cite web}}: CS1 maint: url-status (link)
![[REDACTED]](https://u3vuiephb.global.ssl.fastly.net/File:Prosus_logo.svg){kind=link}