Naspers has turned quite a tidy profit on its 'modest' $32m investment in Tencent made back in 2001. Today its worth an eye-watering $175 billion. For those, like me, that remember the bursting of the dotcom bubble in 2001 its very impressive that they held their nerve to make the investment. It can't have been an easy ride for those first few years. Fortune favours the brave!
South African media company Naspers Ltd. is cashing in a sliver of one of the greatest venture-capital investments ever. The Cape Town-based company is selling $10.6 billion of shares in Tencent Holdings Ltd., equal to 2 percent of the stock in the Chinese operator of the WeChat messaging service, it said in a statement Thursday. The stake Naspers bought for just $32 million in 2001 -- when Tencent was an obscure Web firm in a nation where few people used the Internet -- is now worth $175 billion.