Latest news with #Prosus'
IOL News
03-06-2025
- Business
- IOL News
Prosus's chief investment officer to step down
Dutch technology investor Prosus said on Tuesday that Ervin Tu, the group's President and Chief Investment Officer will step down from his role.. Dutch technology investor Prosus said on Tuesday that Ervin Tu, the group's President and Chief Investment Officer will step down from his role. Tu will remain in his role as an advisor to the group, the company's statement added. Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle e-commerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu said. Since he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance, implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said. "Ervin has made significant contributions to our people, strategy and capital allocation – as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added. REUTERS
Economic Times
03-06-2025
- Business
- Economic Times
Prosus chief investment officer Ervin Tu to step down
Dutch technology investor Prosus said on Tuesday that Ervin Tu, the group's President and Chief Investment Officer will step down from his role. Tu will remain in his role as an advisor to the group, the company's statement added. Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu said. Since he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance, implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said. "Ervin has made significant contributions to our people, strategy and capital allocation - as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added.
Time of India
03-06-2025
- Business
- Time of India
Prosus chief investment officer Ervin Tu to step down
Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Dutch technology investor Prosus said on Tuesday that Ervin Tu , the group's President and Chief Investment Officer will step down from his will remain in his role as an advisor to the group, the company's statement vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi , transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance , implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said."Ervin has made significant contributions to our people, strategy and capital allocation - as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added.
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Business Standard
22-05-2025
- Business
- Business Standard
Prosus CEO Bloisi sets sights on $50 bn India portfolio with AI focus
With high-frequency sectors like food delivery and fintech at the core, Prosus plans new investments, acquisitions and AI integration to scale its India operations Peerzada Abrar Bengaluru Listen to This Article Fabricio Bloisi, Group CEO of global tech investor Prosus, said the firm plans to grow the value of its India portfolio fivefold to $50 billion in the coming years, backed by a few billion dollars in fresh investment. The strategy centres on deepening its presence in core sectors and scaling its ecosystem-focused approach. 'My intention is to invest a few billion dollars more in India,' Bloisi told Business Standard during a media roundtable. Brazilian entrepreneur Bloisi, who succeeded Bob van Dijk as CEO in May 2024, emphasised that Prosus' investment strategy in India remains focused on ecosystem-driven businesses and innovation.
News18
22-05-2025
- Business
- News18
'Worship Founders, Then Discard Them...': CRED's Kunal Shah On Indian Startups
Last Updated: Kunal Shah stressed that in fast-changing fields like tech and AI, only those who adapt will thrive, as the top 100–200 companies change every 5–7 years CRED founder Kunal Shah has sounded a warning about India's startup ecosystem, pointing to a lack of a culture of excellence. He noted that many Indian startups focus more on mutual comparison than on driving genuine innovation. Speaking at Prosus' Luminate event in Bengaluru, Shah said, 'We start comparing ourselves with each other very quickly, without working hard towards excellence. Excellence has not yet become a culture in India," he remarked. Shah argued that India possesses significant potential, but innovation often arises from overcoming constraints. 'Our way of understanding the market may be different, and in the future, many companies will be built in the same direction, but we need to work on a strong foundation," he added. He stressed the importance of continuous adaptation and innovation, particularly in rapidly evolving fields like technology and AI. 'Top 100 or 200 companies change every 5 to 7 years. Only those who can adopt the change will move ahead," Shah emphasised. He also pointed out that an individual's ambition is shaped by their environment. Without examples of excellence, people struggle to dream big. Shah criticised the tendency in India's startup culture to idolise founders, only to abandon them when things go awry. 'We worship founders like gods, and when things go wrong, we immerse them," he said. Shah's insights serve as a wake-up call for young startup founders in India, urging them to pursue excellence through real innovation and hard work rather than mere comparison or funding. Key services offered by CRED include: Credit Card Bill Payments Users can link all their credit cards to CRED and earn cashback, rewards, and exclusive offers for making timely bill payments. CRED Cash An instant personal loan service that provides quick access to funds at low-interest rates. CRED RentPay Allows users to pay their rent directly to their landlord using a credit card, helping manage large monthly expenses more conveniently. CRED Store & Experiences A curated marketplace within the app where users can redeem reward points to access exclusive products, brand deals, and premium experiences. Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published: May 22, 2025, 18:24 IST
