Chinese social networking major Tencent and South African media conglomerate Naspers are restructuring their Indian partnership, in a manner that all from now on, Tencent will operate social businesses in India, while Naspers, through MIH India (Tradus, Gaadi, GoIbibo) will focus on e-commerce. Both parties entered into a fresh set of agreements for their India operations on 10th October 2013. (Hat tip: Jiten Jain) At present, Naspers' India business is operated by MIH India Global, of which Tencent holds 19.9%, while the MIH Group (which is controlled by Naspers) owns 80.1% interest. Naspers' Indian business is broadly categorized into the "Social Network Business" and "eCommerce Business", and following agreements entered into on 10th October 2013, Tencent will own 80.1% of the Social Network Business while MIH will own 19.9%, and MIH will own 80.1% of the e-commerce business, while Tencent will own 19.9%. Tencent's option to acquire 50% (minus one share) in MIH India expired on 17th June 2013. This option was acquired in 2008, when Tencent had announced plans to invest $7.5 million investment in MIH India. MIH India, at that point in time, largely operated largely unsuccessful social networking properties, and following the TenCent deal, launched many Tencent products in India, including mail and messenger, a repurposed QQ browser, and games with virtual currencies. The 2008 agreements - both the shareholder agreement and the agreement that gave Tencent options to buy more stake in MIH - have now been terminated. This restructuring has taken quite some time: we had written about this potential split back in May 2012.…
- “Nothing to worry”: Chennai Police Justifies Use of Facial Recognition System on Random Citizens December 9, 2022
- MeitY to hold cybersecurity workshop for officials after ransomware attack on AIIMS-Delhi: Report December 9, 2022
- DoT to share a revised draft of the telecom bill in less than a month December 9, 2022
- Apple finally brings end-to-end encryption to iCloud Backups, Photos, and more December 9, 2022
- Protecting Personal Data: Where Grievance Redressal Falls Short December 9, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
By Soujanya Sridharan and Dr. Sarayu Natarajan Platform work and data: the intersection Every time you use a ride-hailing app, the matching algorithm processes...
New bill narrows focus over predecessors that went heavy on data sovereignty, localisation and compliance. What explains this change?
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...