Foreign investment from US hedge fund Tiger Global Management, the firm that recently acquired the local online shopping portal Take2, has seen the company prepare for a rebranding and repositioning exercise.
Take2 recently announced that the funding from Tiger Global Management and a new management team, headed by former Naspers and MIH Executive Kim Reid, has injected “a fresh impetus into the online retailer with the goal of achieving an annual turnover of more than one billion rand within five years”.
According to the Take2 website they are becoming “bigger and better” and will soon change their name to Takealot and migrate the site to a new domain takealot.com.
The Takealot.com domain is already live, and the current Take2.co.za website displays a logo which rotates between the old Take2 logo and the new Takealot logo.
Despite the fact that the Takealot.com website is live, the company informed consumers that they won’t be able to purchase goods on the new website until Wednesday 15 June.