The Development and Reform Commission of the Shenzhen Municipality recently hosted the China (Shenzhen) – South Africa Investment Promotion Conference at the Bank of…
Sources: Naspers has shut down major ecommerce sites from MIH SA [update]
Emerging markets media and internet giant Naspers looks set to shut down a number of ecommerce sites run by its online investment arm MIH.
Ventureburn sources say that the collapse of the division will come with job losses and a major restructuring. According a well placed source, many of the South African ecommerce investments made by MIH in the last few years will be dissolved with some parts being absorbed into bigger Naspers players such as Kalahari.
Update: A Ventureburn source from within the group, who asked to remain anonymous, confirmed the shutdown saying that MIH had shifted its strategy, calling it a “sad day for ecommerce”.
Read more on Ventureburn.
