Prosus

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A global consumer-internet investment and operating group controlled by South Africa’s Naspers.

Last updated August 21, 2026

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First read: Nov 4, 2026
Latest read: Nov 4, 2026

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Overview

Prosus N.V. is a Dutch global consumer-internet group headquartered in Amsterdam and controlled by South African multinational media company Naspers. The company invests in, owns and operates technology businesses across a range of markets with long-term growth potential. Its activities have covered social networking, online classifieds, food delivery, payments and financial technology, educational technology, ecommerce, travel and other internet-enabled services. Prosus was created as the international internet-investment vehicle of Naspers and was listed on Euronext Amsterdam in September 2019, with a secondary inward listing on the Johannesburg Stock Exchange. The listing gave public-market investors direct exposure to Naspers’s international technology portfolio, while Naspers retained majority control. Prosus became one of Europe’s largest listed consumer-internet investment groups by asset value, although its market valuation has often been discussed in relation to the value of its underlying holdings. The company is particularly associated with its long-standing investment in Tencent. Naspers first invested in Tencent in 2001, and the holding became one of the most valuable technology investments in the world. Prosus has subsequently built a diversified portfolio around both minority investments and operating subsidiaries. Its classifieds activities include OLX and related property and marketplace brands. Its fintech portfolio has included PayU and investments such as Remitly. In food delivery, the group operates iFood and has held positions in Delivery Hero and Swiggy, alongside venture investments in food-commerce and logistics platforms. Prosus’s education-technology exposure includes Stack Overflow, GoodHabitz and minority investments in companies such as Brainly, Udemy, GoStudent, Eruditus, BYJU’S, Platzi and eduMe. Its ecommerce interests have included eMAG, Meesho, Mensa Brands, PharmEasy, Ula, ElasticRun, merXu and The Good Glamm Group. The group has also invested in travel, including Despegar, which it agreed to acquire in 2024 and took private in 2025. Portfolio composition changes over time as Prosus recycles capital, exits mature investments and concentrates resources on businesses where it believes it can create operational or strategic value. Prosus describes its businesses and investments as serving users across many markets worldwide. Its model combines direct ownership, operating control, strategic minority stakes and venture investing. This structure allows the group to participate in large consumer markets while maintaining exposure to high-growth digital platforms. It has also faced portfolio and geopolitical challenges, including the write-off of its VK investment after sanctions affecting the company’s leadership, criticism concerning its former Russian classifieds exposure, and the need to adjust its Delivery Hero investment as a condition of European regulatory approval for the Just Eat Takeaway.com transaction.

History

Prosus emerged from Naspers’s long-running international internet-investment activities. Naspers began expanding beyond its traditional media businesses into internet platforms during the 1990s. A decisive turning point came in 2001, when it invested in Tencent. Tencent later became the defining asset in the portfolio and provided Naspers with substantial exposure to the growth of Chinese social networking, gaming and digital services. As the portfolio expanded, Naspers accumulated interests across online classifieds, payments, ecommerce, food delivery, education technology, travel and other consumer-internet categories. The group used a combination of wholly owned subsidiaries, controlling stakes and minority investments. Businesses associated with this strategy included OLX in classifieds, PayU in fintech, iFood in food delivery, eMAG in ecommerce and numerous venture-backed technology platforms. In 2019, Naspers separated its international consumer-internet investments into Prosus N.V. The new company’s ordinary shares began trading on Euronext Amsterdam in September of that year and were also admitted to trading on the Johannesburg Stock Exchange through a secondary inward listing. The public offering created a dedicated listed vehicle for the portfolio and made Prosus one of Europe’s largest technology investment companies by asset value. The company’s market valuation, however, was frequently compared with the value of its holdings, particularly Tencent. Prosus continued to expand and rebalance its portfolio during the early 2020s. Food delivery became a major focus through iFood, Delivery Hero and Swiggy, as well as investments in logistics and restaurant-technology businesses. In education technology, the group built exposure to Stack Overflow, GoodHabitz and a collection of minority holdings. Ecommerce investments included eMAG and a range of emerging-market marketplaces and digitally enabled retail businesses. Prosus also maintained exposure to social networking, gaming, property listings and travel. The group encountered geopolitical and regulatory complications. In March 2022, after VK chief executive Vladimir Kirienko was placed on a United States sanctions list, Prosus wrote off its 25.9% VK stake, reported as being worth approximately US$700 million at the time. Following Russia’s invasion of Ukraine, Prosus was criticized for being slow to announce a withdrawal from Russia, particularly because its Avito classifieds business had reportedly been used for military recruitment-related advertising. Prosus agreed in October 2022 to sell Avito to Kismet Capital Group. Portfolio recycling became more visible in 2024 and 2025. Prosus exited Trip.com Group through block trades in 2024 and exited BUX after its acquisition by ABN AMRO. It agreed in December 2024 to acquire Despegar, a Latin American online travel agency, for approximately US$1.7 billion; the transaction closed on 15 May 2025 and Despegar was delisted. In February 2025, Prosus agreed to acquire Just Eat Takeaway.com for approximately €4.1 billion in cash. The transaction was subject to regulatory conditions, including a requirement to reduce Prosus’s Delivery Hero exposure. These events illustrate the group’s continuing strategy of concentrating capital in consumer-internet platforms while exiting or restructuring holdings that no longer fit its priorities.

2025
Despegar transaction closes
[1]Prosusen.wikipedia.org
The Despegar acquisition closed on 15 May 2025, followed by the company’s delisting.
2025
Just Eat Takeaway.com acquisition agreed
[1]Prosusen.wikipedia.org
Prosus agreed to acquire Just Eat Takeaway.com in a cash transaction valued at approximately €4.1 billion.
2024
Trip.com Group exit
[1]Prosusen.wikipedia.org
Prosus completed its exit from Trip.com Group through block trades during September and October.
2024
Despegar acquisition announced
[1]Prosusen.wikipedia.org
Prosus agreed to acquire Latin American travel company Despegar for approximately US$1.7 billion.
2022
VK stake written off
[1]Prosusen.wikipedia.org
Prosus wrote off its 25.9% holding in VK after sanctions were imposed on VK’s chief executive.
2022
Avito sale agreed
[1]Prosusen.wikipedia.org
Prosus agreed to sell Russian classifieds platform Avito to Kismet Capital Group after geopolitical criticism and its decision to leave the business.
2019
Prosus is established and listed
[1]Prosusen.wikipedia.org
Prosus was established as Naspers’s international consumer-internet investment vehicle and listed on Euronext Amsterdam, with a secondary inward listing on the Johannesburg Stock Exchange.
2001
Naspers invests in Tencent
[1]Prosusen.wikipedia.org
Naspers made its early investment in Tencent, which later became the central and most valuable asset associated with the group’s international technology portfolio.

Products and positioning

A global technology investment and operating platform focused on consumer internet businesses and digital platforms.

Social networking, gaming and digital services · 2001
Tencent investment
Prosus’s Tencent holding is its best-known investment and originated with Naspers’s 2001 investment. Tencent operates major social, gaming, communications, payments and digital-content businesses. The investment has historically represented a substantial share of the value of Prosus’s portfolio and has shaped the group’s identity as a global technology investor.
Online classifieds and marketplaces
OLX
OLX is Prosus’s international classifieds and marketplace platform. Its wider portfolio has included regional brands and specialist businesses such as Property24, while the group has also held interests in marketplace combinations involving OLX assets and EMPG. The business connects buyers and sellers across categories including property, vehicles, jobs and general goods.
Payments and fintech
PayU
PayU is a major Prosus fintech business providing payment and related financial-technology services in selected emerging markets. Prosus has retained operations in India, Turkey, Southeast Asia and Red Dot Payment, while divesting its Global Payments Organisation in Latin America and Africa to Rapyd in 2025.
Food delivery
iFood
iFood is Prosus’s food-delivery platform and one of its major operating businesses. It provides digital ordering and delivery services connecting consumers, restaurants and couriers. Prosus has also maintained exposure to the wider food-commerce ecosystem through investments in delivery, restaurant technology, grocery and logistics companies.
Educational technology and developer knowledge
Stack Overflow
Stack Overflow is a developer knowledge and collaboration platform that became a wholly owned Prosus business. Its community-generated technical content and professional products extend Prosus’s education-technology and knowledge-services portfolio beyond conventional online courses.
Ecommerce
eMAG
eMAG is an ecommerce platform in which Prosus has held an approximately 80.1% interest according to the referenced material. It operates as a regional online marketplace and retailer, connecting consumers with products and third-party merchants in its markets.
Online travel
Despegar
Despegar is a Latin American online travel agency offering digital travel-booking services. Prosus agreed to acquire the company in December 2024 and completed the transaction on 15 May 2025, after which Despegar was delisted.
Food delivery
Delivery Hero investment
Prosus has held an investment in Delivery Hero as part of its food-delivery portfolio. The holding became relevant to the Just Eat Takeaway.com transaction because European approval required Prosus to reduce its exposure to Delivery Hero.

Controversies

2022
Criticism over Russian operations and Avito
Following Russia’s invasion of Ukraine, Prosus was criticized for being slow to announce disinvestment or a substantial reduction of its Russian activities. Particular attention focused on Avito, an OLX subsidiary whose classified-advertising services were reported to have been used for recruitment by the Russian army. Prosus subsequently agreed to sell Avito to Kismet Capital Group.
Source

2025
Acquire Just Eat Takeaway.comM&A
Background
Prosus had previously attempted to acquire the then-independent Just Eat in 2019 but lost the bidding contest to Takeaway.com.
Action taken
Prosus agreed to acquire Just Eat Takeaway.com for approximately €4.1 billion in cash.
Aftermath
European approval required Prosus to reduce its Delivery Hero exposure as a condition of the transaction.
Agreed acquisition value. Approximately €4.1 billion (February 2025)
Source
2024
Acquire DespegarM&A
Background
Prosus sought to expand its exposure to digital consumer services and online travel in Latin America.
Action taken
Prosus agreed to acquire Despegar for approximately US$1.7 billion.
Aftermath
The acquisition closed on 15 May 2025 and Despegar was subsequently delisted.
Agreed acquisition value. Approximately US$1.7 billion (December 2024)
Source
2022
Write off the VK investmentOther
Background
VK chief executive Vladimir Kirienko was placed on a United States sanctions list following Russia’s invasion of Ukraine.
Action taken
Prosus wrote off its 25.9% stake in VK.
Aftermath
The investment was removed from the group’s portfolio after sanctions made continued ownership and valuation highly problematic.
Reported value of written-off stake. Approximately US$700 million → Written off (March 2022)
Source
2022
Sell AvitoM&A
Background
Prosus faced criticism over its continued Russian operations and the reported use of Avito’s classified services for military recruitment-related activity.
Action taken
Prosus agreed to sell Avito to Kismet Capital Group.
Aftermath
The transaction represented Prosus’s exit from the Russian classifieds business.
Agreed transaction value. US$2.4 billion (October 2022)
Source
2019
Create a dedicated listed consumer-internet groupStrategy
Background
Naspers had accumulated a large international portfolio of internet businesses and sought a separate public-market vehicle for these assets.
Action taken
Prosus was established and its ordinary shares were listed on Euronext Amsterdam, with a secondary inward listing on the Johannesburg Stock Exchange.
Aftermath
The listing gave investors direct exposure to Naspers’s international technology portfolio and made Prosus one of Europe’s largest listed consumer-internet investment groups by asset value.
Source

Recent events

2021.08.31
Reported2021.08.31
Prosus announces proposed acquisition of BillDesk[3]Prosus宣布拟收购BillDesktechcrunch.com
Prosus announced a proposed $4.7 billion acquisition of India-based payments provider BillDesk. The deal would require approval from India's Competition Commission; Prosus also planned to combine BillDesk with its PayU business.
2021.07.20
Reported2021.07.20
Swiggy closes $1.25 billion funding round[4]Swiggy完成12.5亿美元融资thehindu.com
Swiggy announced that it had closed a $1.25 billion funding round, with participation from SoftBank Vision Fund 2, Prosus and other existing and new investors.
2021.07.20
Reported2021.07.20
Swiggy raises $1.25 billion in funding[5]Swiggy融资12.5亿美元economictimes.indiatimes.com
Swiggy raised $1.25 billion from SoftBank Vision Fund II and existing investors Prosus, Accel and Wellington Management. The round valued the company at $5.5 billion post-money.
2021.06.02
Reported2021.06.02
Prosus announces acquisition of Stack Overflow[6]Prosus宣布收购Stack Overflowfinance.yahoo.com
Prosus announced it would acquire Stack Overflow for $1.8 billion; the article says Stack Overflow would continue to operate independently.
2021.05.03
Reported2021.05.13
CFIUS approves Prosus's second-step investment[7]美国外国投资委员会批准Prosus第二阶段投资prnewswire.com
The Committee on Foreign Investment in the United States notified Prosus that it had approved Prosus's second-step equity investment related to Churchill Capital Corp II's planned acquisition of Skillsoft and Global Knowledge.
2020.08.26
Reported2020.08.29
Prosus launches accessibility challenge with Invest India and Social Alpha[8]Prosus与Invest India及Social Alpha推出无障碍创新挑战yourstory.com
Prosus launched the Social Impact Challenge for Accessibility in partnership with Invest India and Social Alpha. The challenge invites eligible Indian startups developing assistive technology solutions to compete for grants.
2020.01.22
Reported2020.01.22
Naspers sells Prosus shares[9]Naspers出售Prosus股份kauppalehti.fi
Naspers said it sold around 1.5 billion euros worth of shares in Prosus, its Amsterdam-listed subsidiary.

Sources16 sources

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