Takealot got another R716 million from Naspers

Naspers pumped another R716 million into Takealot.com during August 2015 as part of a funding round at the online shop , the company reported in its latest interim results.

The group now has a 42.2% interest in Takealot on a fully diluted basis.

News of Takealot’s new funding round first emerged in September. While the purpose of the funding is not clear, there is some speculation that it may be used to build a large online marketplace.

Takelot was asked about the additional funding at the time, but co-CEO Kim Reid said that “it is not Takealot’s policy to comment on market speculation”.

In its annual report for the year ended 31 March 2015, Naspers reported that it acquired a 46.5% interest in Takealot in exchange for the contribution of its e-commerce business, Kalahari.com, and the issue of 612,977 Naspers N ordinary shares.

“The aggregate purchase consideration in the transaction amounted to R1.2 billion and the acquisition gave rise to a deemed disposal gain of R154 million,” Naspers said.

Takealot and Kalahari originally announced the merger of their operations in October last year, after Takealot.com raised $100 million from its major shareholder, New York Based, Tiger Global Management in April of 2014.

Kalahari closed it’s doors in April of this year (2015).

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Takealot got another R716 million from Naspers