South African-based Naspers has opened a Naspers Ventures unit in San Francisco, marking the first time the company has opened offices on American soil.
Traditionally, the media firm has focused on emerging markets in Africa, India and Russia, more commonly referred to as the BRICS regions.
While at first glance the move to open offices in the developed economy of the US seems strange, it isn’t so strange when you consider that Naspers is preparing for the next growth phase.
Unfortunately, when you invest as actively as Naspers does you need to help those investments, in this case start-ups grow as well. Lack of money, time and expertise often holds back these start-ups from growing and this is where the network Naspers has developed over the course of its 101 year existence comes into play.
The firm is well represented across various sectors around the world including social networking in the form of China’s Tencent, online retail in the form of Allegro and payments through the PayU service.
Establishing a base of operations in the US means that Naspers Ventures is able to give start-ups and entrepreneurs its invested in around the world a way to draw talent from the US and indeed, help them break into the US market.
“We’re looking to support existing companies that aren’t in the U.S. but that want to attract talent here and potentially bring their models here, as well,” CEO of Naspers Ventures, Larry Illg said according to a report on TechCrunch.
The Naspers Venture side of things will seek out entrepreneurs and start-ups that are primed for global growth.
Illg used the Naspers blog to speak about the value of start-ups entering the global market saying, “Going global sooner can be the difference between an opportunity seized or lost. And sometimes this can be the difference between a business succeeding or ultimately failing.”[Via – TechCrunch]