Internet investment's new champions: the emerging online giants
Posted in: Internet Use/New Technologies at 11/07/2010 17:41
DST, Naspers and Tencent have made promising internet investments in many emerging markets. Now even Western internet financiers are emulating them
They may not have the name recognition of a Google or a Yahoo!, but they can claim to belong in the same league. The websites of Digital Sky Technologies (DST) account for more than 70% of page-views on the Russian-language internet. Naspers is Africa's biggest media group, both offline and online. And Tencent is China's largest internet company by market capitalisation -- and the third-largest in the world.
Now these firms are increasingly making their presence felt beyond their home markets. Between them they have invested in dozens of internet firms around the globe. The most adventurous of the three, DST, has already moved west -- and paid top dollar for stakes in fast-growing American companies, notably Facebook, the world's biggest social network.