[South Africa] Africa’s Largest Company Naspers Ups Investment In Takealot, South Africa’s Biggest Ecommerce Firm
Naspers, Africa’s biggest ecommerce and digital company, has just invested R960-million (about $69.4-million) into Takealot Online, South Africa’s largest ecommerce company. Naspers will now have a 53.5% stake in Takealot, while Tiger Global will own about 34%. Naspers has significant internet investments around the world, including owning a third of China’s Tencent, makers of messaging apps WeChat and QQ.
[India] EBay folds Indian operation into local retailer Flipkart
eBay has sold its Indian operation to local retailer Flipkart, while joining Tencent and Microsoft in investing US$1.4 billion in the Indian company. Flipkart will run the eBay India business as an independent entity. Flipkart is also reportedly in talks to acquire another retailer Snapdeal.
Related: Tencent: China’s online giant jumps into India’s e-commerce frenzy
Tencent, along with Microsoft and eBay, had poured $1.4 billion into Indian online retailer Flipkart. The investment will put Tencent against its old Chinese rival Alibaba who has invested in Paytm.
[India] WhatsApp will reportedly launch peer-to-peer payments in India within 6 months
WhatsApp may be about to introduce peer-to-peer payments in India, its largest market with over 200 million users.
[U.S.] Amazon Will Make Up 50% of All U.S. E-Commerce by 2021
The online retailer, which accounts for about 34% of U.S. online sales, should see its market share grow to about 50% by 2021, according to a research note by Needham. The dominance can be attributed to its Prime membership program and marketplace. Research firm Consumer Intelligence Research Partners estimates that Amazon had some 65 million Prime members last year. According to eMarketer, 80% of Prime members shopped on amazon.com at least once a month. CIRP also found that Prime members spend up to $1,500 a year on the site, more than twice non-members.
[China] China Signals Support for Cross-Border E-Commerce
In a statement released March 17, China’s Ministry of Commerce said that overseas goods purchased online and distributed through bonded warehouses would continue to receive preferential treatment, avoiding quarantine and quality checks that could have brought the import of many popular foreign products to a halt. All goods shipped through bonded warehouses would be considered “personal items” and therefore exempt from the stricter regulations. The ministry’s announcement also included the addition of five more pilot zones for bonded warehouses, bringing the total number to 15. eMarketer predicts that China cross-border sector will reach $157.7 billion by 2020 from about $86 billion last year.
If you really like the newsletter, feel free to forward it to a friend. Thank you.