{"id":102871,"date":"2014-05-24T14:12:56","date_gmt":"2014-05-24T12:12:56","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=102871"},"modified":"2014-05-24T18:55:44","modified_gmt":"2014-05-24T16:55:44","slug":"what-takealot-will-do-with-r1-billion","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/internet\/102871-what-takealot-will-do-with-r1-billion.html","title":{"rendered":"What Takealot will do with R1 billion"},"content":{"rendered":"<p><a title=\"Takealot funding\" href=\"http:\/\/mybroadband.co.za\/news\/business\/102857-takealot-gets-r1-billion-in-funding.html\"><strong>Takealot has raised just over R1 billion<\/strong><\/a> ($100 million) from its major shareholder, Tiger Global Management, which will partly be used to give South Africans a better online shopping experience.<\/p>\n<p>Takealot CEO Kim Reid told MyBroadband that the online retailer has gained substantial momentum in South Africa, and there is more to come.<\/p>\n<p>It is no secret that Takealot wants to dominate online shopping in South Africa, and continue to take market share from Kalahari and other players. This money will help it to achieve this.<\/p>\n<p>\u201cThe money will be used to capitalise the business, grow warehousing, tech, human capital and our logistics infrastructure to maintain and increase this momentum,\u201d said Reid.<\/p>\n<p>\u201cWe remain obsessed about our customers and believe that the more we invest, the better we will become at servicing our customers, resulting in continued aggressive growth.\u201d<\/p>\n<p>He added that some of the money raised will be used to expand the business into Sub-Saharan Africa.<\/p>\n<p>\u201cWe have big plans but plans are nothing without execution, you will just have to wait and see,\u201d Reid concluded.<\/p>\n<h3 class=\"my-4\">More on Takealot<\/h3>\n<p style=\"color: #263034;\"><a style=\"color: #0066cb;\" title=\"Takealot launches daily deals section\" href=\"http:\/\/mybroadband.co.za\/news\/business\/77886-takealot-launches-daily-deals-section.html\"><strong>Takealot launches daily deals section<\/strong><\/a><\/p>\n<p style=\"color: #263034;\"><a style=\"color: #0066cb;\" title=\"Takealot loses import service\" href=\"http:\/\/mybroadband.co.za\/news\/internet\/60457-takealot-loses-import-service.html\"><strong>Takealot loses import service<\/strong><\/a><\/p>\n<p style=\"color: #263034;\"><a style=\"color: #0066cb;\" title=\"Takealot appoints new CTO\" href=\"http:\/\/businesstech.co.za\/news\/internet\/21955\/takealot-appoints-new-cto\/\"><strong>Takealot appoints new CTO<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Takelot has secured R1 billion in funding, and South Africans can expect fireworks in the local e-commerce space<\/p>\n","protected":false},"author":23,"featured_media":102875,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[18],"tags":[35,1179,995],"class_list":["post-102871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-headline","tag-kim-reid","tag-takealot"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/102871"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=102871"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/102871\/revisions"}],"predecessor-version":[{"id":102873,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/102871\/revisions\/102873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/102875"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=102871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=102871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=102871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}