How Takealot plans to spend R960 million it got from Naspers

Last month Naspers announced a R960 million investment in online retail behemoth Takealot.

The Money Show’s Bruce Whitfield interviewed Takealot CEO Kim Reid.

Reid discussed how he’s planning to spend nearly R1 billion in funding.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

I wish it was my cash!

Kim Reid, Takealot

We’re not about to launch a fleet of drones or change our delivery vehicles to Ferraris just yet.

Kim Reid, Takealot

The business is all about scale.

Kim Reid, Takealot

We’re not profitable, but we have a plan to get there.

Kim Reid, Takealot

We definitely learn lessons from Amazon.

Kim Reid, Takealot

All around the world online retail is growing at a rapid rate.

Kim Reid, Takealot

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Article brought to us by Old Mutual.

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