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Season 3, Episode 10: Tencent
Acquired
I D G Meets a Ponies Cofounders
Co-founders meet the investment arm of naspers, which is a big south african media conglomerate. They say they don't want to buy your company, but we've got capital. We're looking to diversify out of the media,. I believe mostly print media business in south africa. We will invest. Naspers acquires 32 point eight % of ten cent. In total, just under a third for 20 million dollars. So lee cashing sells his entire 20 percent steak. Fortunately for d they sell only 12 point eight% of their stakes so they retain seven point two % of ownership in ten cent.
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