Naspers

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Naspers Limited
Public company
Traded as JSE: NPN
Industry Ecommerce, Internet, Media
Genre Media
Founded 12 May 1915; 103 years ago (1915-05-12)
Headquarters Cape Town, South Africa
Area served
Global
Key people
Koos Bekker (Chair)
Bob van Dijk (CEO)
Revenue Increase R73.1 billion (FY 2015)[1]
Increase R1.6 billion (FY 2015)[1]
Website 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, entertainment, gaming and e-commerce. It was founded in 1915 in South Africa by Jannie Marais of Coetsenburg and W.A. Hofmeyr with the support of Jan Christiaan Smuts, Louis Botha and J.B.M. Hertzog. A major milestone for Naspers was its purchase of a stake in the Chinese media and internet company, Tencent.

History[edit]

De Nationale Pers Beperkt[edit]

Naspers building in the Cape Town CBD

Naspers was founded in 1915 under the name De Nationale Pers Beperkt (National Press Ltd) as a publisher and printer of newspapers and magazines.[2][3] 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.[4]: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.[4]: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.[5]

In 1918 the company added book publishing to its portfolio, making it one of Africa's most significant media hubs 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.[5]

Public company[edit]

Since 1994, the company has been listed on the Johannesburg Stock Exchange 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.[citation needed]

Nasionale Pers officially changed its name to the currently used 'Naspers' in 1998.[5]

The investment in Tencent has dramatically boosted the Naspers stock price,[6] 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.[citation needed]

In March 2014, Souq.com raised $75 million from Naspers.[7] Over two rounds in May and September 2017, Naspers invested 1.05 billion euros ($1.2 billion) in Germany’s Delivery Hero AG, and has been involved in 14 deals worth $1.94 billion this year alone, according to data compiled by Bloomberg.[8]

Post Anglo Boer War involvement[edit]

The original reason for the founding of Naspers was to empower the impoverished Afrikaner nation after the devastation of the Anglo Boer War.[9] It therefore also supported the Nationalist Party (NP).[10]

Criticism[edit]

On 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.[11]

Brands and subsidiaries[edit]

Major brands owned by Naspers include:

It also has minority investments in listed, integrated social-network platforms Tencent (SEHK 0700) and Mail.ru (LSE: MAIL).

See also[edit]

References[edit]

  1. ^ a b "Home - - Naspers Integrated Annual Report 2015". www.naspers-reports.com. 
  2. ^ "Naspers website: Our history". Company history. Naspers. Retrieved 15 March 2015. 
  3. ^ "Apartheid Inc, the story of Naspers, Media24 and Channel Life". Media Alternatives. 15 November 2011. Retrieved 15 March 2015. 
  4. ^ a b 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. 
  5. ^ a b c "Apartheid Inc. – Profile of a racist corporation, June 9, 2010". History Matters. 22 January 2015. Retrieved 15 March 2015. 
  6. ^ "Koos Bekker to Naspers' shareholders: You're richer because of Tencent - BizNews.com". BizNews.com. 2017-08-28. Retrieved 2017-08-29. 
  7. ^ Nair, Dinesh (14 April 2015). "Tiger-Backed Souq.com Said Worth $1 Billion in Fundraising". Bloomberg. Retrieved 25 October 2015. 
  8. ^ "Naspers lines up billions for tech investments". Economic Times. 
  9. ^ "Naspers Ltd. History". Funding Universe. 
  10. ^ Lizette, Rabe (2014-07-17). "From 'people's press' to global superstar". The Media Online. 
  11. ^ Lindeque, Mia. "DStv agrees to pay R22m penalty for price fixing". Retrieved 2017-08-30. 
  12. ^ "This Craigslist Copycat Gets a Lift From Russia's Recession". 15 March 2016 – via www.bloomberg.com. 
  13. ^ 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. 

External links[edit]