For years, investors have judged Prosus by a single yardstick: Tencent.
The Amsterdam-listed internet giant, majority-owned by South African consumer internet group Naspers, built much of its market value on an early investment in the Chinese technology company. While Prosus assembled a portfolio spanning food delivery, payments, classifieds, and e-commerce across emerging markets, Tencent remained the business that mattered most.
Now Prosus says that equation is beginning to change.
In a trading statement released on Friday ahead of its annual results, the company said all of its operating ecosystems had reached profitability, marking a milestone in its effort to build businesses capable of generating earnings beyond Tencent.
Originally published by TechCabal.