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Johannesburg - Shares of Naspers [JSE:NPN] rose 2% to R313.90 after Africa's largest media company bought a controlling stake in US e-commerce company Multiply Inc.
Florida-based Multiply operates Multiply.com, a shopping site that is also a social network. The terms of the deal are not disclosed.
By focusing on emerging markets and e-commerce, Naspers has been able to report consistent revenue growth even as much of the media industry flounders.
Naspers owns 30% of Tencent Holdings, China's biggest Internet firm, and has said it is looking to acquire more e-commerce companies.
Fin24.com is part of FinMedia24, a Naspers subsidiary.
Florida-based Multiply operates Multiply.com, a shopping site that is also a social network. The terms of the deal are not disclosed.
By focusing on emerging markets and e-commerce, Naspers has been able to report consistent revenue growth even as much of the media industry flounders.
Naspers owns 30% of Tencent Holdings, China's biggest Internet firm, and has said it is looking to acquire more e-commerce companies.
Fin24.com is part of FinMedia24, a Naspers subsidiary.
