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Naspers and Prosus’ CEO Outlines Ambitious Growth Strategy After 100 Days in Office

October 22, 2024
2 min read
Author: Aayushya Ranjan

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Fabricio Bloisi, CEO of Prosus and Naspers, recently shared a letter reflecting on his first 100 days in office, expressing enthusiasm about the company’s prospects and strategic direction. Currently valued at approximately $100 billion, Bloisi aims to create an additional $100 billion in value within the Prosus ecosystem by focusing on building and investing in fast-growing, profitable businesses.

In his letter, Bloisi emphasized his commitment to enhancing operational efficiency and profitability. Over the past three months, he has engaged deeply with various business units, implementing a new management model designed to foster connectivity and innovation across the organization. Notably, he highlighted the integration of artificial intelligence (AI) as a pivotal aspect of their growth strategy, citing successful examples from iFood and OLX.

Key accomplishments during his tenure include the streamlining of eMAG to ensure full-year profitability, achieving a historic milestone of 100 million monthly orders for iFood, and actively managing their portfolio. Prosus recently sold its stake in Trip.com for $1.5 billion and has made strategic decisions regarding other businesses, including positioning Takealot for sustained growth and preparing Swiggy for its anticipated IPO.

Bloisi reported strong financial growth, with eCommerce revenue accelerating significantly, generating approximately three times the Adjusted EBIT compared to the previous fiscal year. He is determined to enhance the profitability of the core eCommerce business, targeting an additional $400 million in Adjusted EBIT this fiscal year.

As Bloisi concludes his letter, he expressed gratitude for the support and partnership of stakeholders, affirming a promising outlook for Prosus and Naspers as they continue to innovate and grow.

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