The perennial worry about European technology is that there isn’t a consumer-facing giant to rival the size of Apple, Google parent Alphabet, Facebook and Amazon.com.
A direct comparison with the Silicon Valley titans is unfair, since Johannesburg-based Naspers’s size has nothing to do with its own operations. Naspers’s move is positive for the region’s tech. NewCo will surely be more inclined to invest in the continent. And both are investors in startups. The SA firm 2018 raised $9.8bn for such investments by selling a 2% stake in Tencent. But while Masayoshi Son splashes his cash on a remarkable range of businesses, Naspers has adopted a narrower focus, targeting social platforms, e-commerce and payments.
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