One of the most, if not the most, interesting media companies transforming in the Internet age is the South African company Naspers. Traditionally a newspaper publisher and pay-tv operator, it transformed itself into an Internet powerhouse by its canny investment in Chinese Internet giant Tencent in 2001. A multi-million investment has turned into a multi-billion valuation, making it one of the best Internet investments ever.
After the Tencent investment, Naspers was a pioneer in investing in established online concepts in non-Western online markets, a strategy that is now quite widely imitated.
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