Naspers, South African media giant, will continue to allocate a significant amount of funds to Indian ventures operating across food delivery, classifieds and fintech.
“If you look backwards, we have spent about $2 billion over the years, and that’s a big part of our overall investments…Historically, we have spent a good chunk of our investment money into the Indian market, “The return could be much higher or lower…It’s been about 20% over the last 10 years, but much higher over the last few years”, he further added.
In recent times, Asia’s third-largest economy, India has emerged as a profitable market for the global tech investor in which it had invested around $2 billion till date.
Naspers CEO Bob Van Dijk, was speaking to reporters during the three-day annual summit that is being held in Delhi. The event has witnessed the gathering of the company’s top leadership, including along with a significant representation of its portfolio globally.
“We earned spectacular returns from Flipkart, a company that started from nothing in this country, by a group of Indian founders, and that’s what we do. 32% annual returns are no shame. Stock markets give you 6%-7%. I’m happy with that,” he said.
Naspers will back considerable Indian companies and have zeroed down its existing portfolio list that includes, food delivery company Swiggy, fin-tech venture PayU India, classifieds company OLX and India’s largest online travel operator, MakeMyTrip.
Naspers has also affected many alliances in the Indian internet market, both in online travel and payments domain. In 2013, it acquired bus booking platform redBus which it merged with Ibibo, an online travel firm is founded in 2007. It went on to become the second-largest player. In 2016, Naspers merged Ibibo with market leader MakeMyTrip to become its largest shareholder.