by Ali Altuğ KOCA on July 12, 2011
We heard of the investment from Allegro, one of Naspers’ group companies, for Markafoni about two months ago and shared this news with you last week. Now the investment has been confirmed by a news bulletin we just received.
The bulleting says that an approximate of 70 percent of Markafoni stakes have been bought by Naspers connected MIH-Allegro, but it does not mention of 200 million dollar valuation.
On the previous article we shared with you that Markafoni partners would stay with the company, and this information is confirmed by the bulletin. The fact that the investment is also for Zizigo, owned by Markafoni, is another catchy information in the bulletin.
So, Markafoni’s management will stay the same and CEO Sina Afra, and founders Tolga Tatari and Ahmet Emre Sarı will stay at the management as Board Members.
You can find the complete bulletin below. We’ll be updating the news with new information.
Update: You can see the news on TechCrunch about Markafoni acquisition here.
Nearly 70 percent of the shares of markafoni, the third biggest e-commerce company in Turkey, has been acquired by MIH-Allegro; a subsidiary of Naspers, operating in 129 countries with 23 billion dollar market value. The acquisition is expected to bring dynamism to the Turkish internet market and also to take a leading part for markafoni in the process of its becoming a global brand.
Multinational multimedia company Naspers has penetrated to the Turkish internet market by purchasing —through MIH-Allegro— nearly 70 percent of the shares of markafoni, the first and leading private shopping club in Turkey. The acquisition includes markafoni Turkey, markafoni Ukraine and Zizigo, the biggest online shoe store of Turkey.
This development, which will bring new dynamics to the Turkish internet market, is also important for markafoni in the process of becoming a global brand. markafoni has already been operating in Ukraine, Australia and Greece, and will now benefit more from Naspers’ huge network. MIH-Allegro plans to take a leading part in Turkey’s fast growing internet market by acquiring a controlling interest of markafoni.
After the acquisition, the share structure of markafoni has been changed. With the exit of the existing investors except the founders, the shares of markafoni has been distributed among by Sina Afra, Chairman, Tolga Tatari and Ahmet Emre Sarı, Board Members, and MIH-Allegro. However, this change will not affect the management. Sina Afra, Tolga Tatari and Ahmet Emre Sarı will remain in charge.
markafoni, first and leading private shopping site of Turkey, maintains its leader position in private shopping sector with 12 million visits per month today. markafoni, accepting its members by invitation, offers to its members sales to 90 percent in outstanding brands in the categories of accessories, cosmetics, decoration and clothing. markafoni, with the application of markafonicity, gives a chance to its members to have sale coupons for the selected fashion stores in the city. markafoni, the third biggest e-commercial companies of Turkey, has 3.5 million members. An expert team of 350 members work for customer satisfaction at markafoni, outstanding with its 7/24 customer services.
Incorporated in 1915 as a public limited liability company and listed on the Johannesburg Stock Exchange (JSE) in September 1994, Naspers is a leading multinational media group. The company also has an ADR listing on the London Stock Exchange (LSE).Over the past two decades the group has evolved from a traditional print media business in one country, to a broad-based e-media company in multiple markets. The group’s principal operations are in internet platforms (focusing on commerce, communities, content, communication and games), pay-television and the provision of related technologies and print media (including publishing, distribution and printing of magazines, newspapers and books). Most of Naspers’ businesses hold leading market positions. The group’s most significant operations are located in emerging markets. This includes South Africa and the rest of Sub-Saharan Africa, China, Latin America, Central and Eastern Europe, Russia and India.