{"id":279367,"date":"2018-10-23T17:14:26","date_gmt":"2018-10-23T15:14:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=279367"},"modified":"2018-10-23T17:14:26","modified_gmt":"2018-10-23T15:14:26","slug":"naspers-targets-further-investment-in-online-food-delivery-business-swiggy-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/279367\/naspers-targets-further-investment-in-online-food-delivery-business-swiggy-report\/","title":{"rendered":"Naspers targets further investment in online food-delivery business Swiggy – report"},"content":{"rendered":"
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Naspers Ltd is planning to increase its stake in Indian online food-delivery business Swiggy as the startup plots its third fund-raising round of the year, according to people familiar with the matter.<\/p>\n

Africa\u2019s largest company by market value has indicated that it intends to support a financing that could raise more than $600 million, Swiggy\u2019s biggest to date, according to the people. There\u2019s also an opportunity to buy stakes from investors such as Bessemer Venture Partners, they said, asking not to be identified as the information isn\u2019t public.<\/p>\n

Tencent Holdings Ltd, the Chinese internet giant in which Naspers owns a 31% stake, is also planning to invest in the fundraising, according to one of the people.<\/p>\n

Naspers declined to comment. Swiggy, Tencent and Bessemer didn\u2019t immediately respond to emails seeking comment. The story was first reported by VC Capital website.<\/p>\n

Swiggy\u2019s value has risen to more than $2 billion after Cape Town-based Naspers led two previous funding rounds to become the firm\u2019s biggest shareholder, according to the people. Naspers had a 22% stake as of the end of March. The company hasn\u2019t made a final decision on whether to take part in the latest financing and may yet opt against it, one of the people said.<\/p>\n

Naspers has targeted India for investments as the company seeks to replicate a blockbuster early bet on Tencent. The company made a $1.6 billion profit from the sale of its 11 percent stake in Indian e-commerce startup Flipkart earlier this year, and also has shares in travel business MakeMyTrip and classifieds business OLX.<\/p>\n

Food delivery has been a favorite industry of Naspers, with assets including Germany\u2019s Delivery Hero AG and iFood in Brazil. The company plans to invest in another Indian food company called Hungerbox, a tech-enabled corporate catering company, said one of the people.<\/p>\n

Naspers shares have fallen 22% this year, valuing the company at 1.2 trillion rand ($83 billion), as a record slump in Tencent\u2019s share price dragged down its South African investor.<\/p>\n

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Read: Now may be a good time to invest in Naspers: analyst<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Naspers Ltd is planning to increase its stake in Indian online food-delivery business Swiggy as the startup plots its third fund-raising round of the year, according to people familiar with the matter.<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[26,107,12713,1977],"class_list":["post-279367","post","type-post","status-publish","format-standard","hentry","category-internet","tag-headline","tag-naspers","tag-swiggy","tag-tencent"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/279367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=279367"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/279367\/revisions"}],"predecessor-version":[{"id":279369,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/279367\/revisions\/279369"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=279367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=279367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=279367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}