Prosus invested $8.6 billion in India, says CEO Bloisi
BENGALURU: Netherlands-based global tech investor Prosus invested over $8.6 billion in India, making it one of its strategic markets, CEO Fabricio Bloisi said in a letter to shareholders on Thursday. The update follows Swiggy's IPO last year and a recent investment in the ride-hailing platform Rapido, which Bloisi said is growing over 100% year-on-year and facilitating more than 3 million rides per day.
Key portfolio companies delivered strong results. OLX, one of the largest classifieds businesses globally, grew revenue by nearly 20% and expanded aEBIT by over 50% to $270 million. iFood processed more than 120 million orders in a month and grew its aEBIT to over $200 million, more than double the previous year. Its subscription service, Clube, is now contributing around 40 million monthly orders, with increased user frequency and retention.
Prosus also emphasised capital discipline, noting over $35 billion returned to shareholders through its ongoing buyback programme. This has reduced the free float of Prosus by 27% and Naspers by 25%. Portfolio pruning yielded $2.4 billion, driven by stake sales in Swiggy, Trip, Tazz, and the Latin America and Africa payments business. Bloisi said the company will now focus on integrating two recent acquisitions - Just Eat Takeaway in Europe and Despegar in Latin America - over initiating new investments. AI-driven innovation remains a priority, with Prosus Ventures backing firms such as Corti, Zapia, Altera, and Taktile. "We are just getting started," Bloisi wrote, completing his first fiscal year as CEO.
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Key portfolio companies delivered strong results. OLX, one of the largest classifieds businesses globally, grew revenue by nearly 20% and expanded aEBIT by over 50% to $270 million. iFood processed more than 120 million orders in a month and grew its aEBIT to over $200 million, more than double the previous year. Its subscription service, Clube, is now contributing around 40 million monthly orders, with increased user frequency and retention.
Prosus also emphasised capital discipline, noting over $35 billion returned to shareholders through its ongoing buyback programme. This has reduced the free float of Prosus by 27% and Naspers by 25%. Portfolio pruning yielded $2.4 billion, driven by stake sales in Swiggy, Trip, Tazz, and the Latin America and Africa payments business. Bloisi said the company will now focus on integrating two recent acquisitions - Just Eat Takeaway in Europe and Despegar in Latin America - over initiating new investments. AI-driven innovation remains a priority, with Prosus Ventures backing firms such as Corti, Zapia, Altera, and Taktile. "We are just getting started," Bloisi wrote, completing his first fiscal year as CEO.
Stay informed with the latest business news, updates on bank holidays and public holidays.
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