Boca Raton, FL, September 20, 2010 – The Myriad International Holdings unit of Naspers Limited (NPN-JSE) has acquired a controlling interest in Multiply, Inc., operator of the market leading Social Shopping site Multiply.com.
Multiply, which blends social networking with an online marketplace that now numbers over 70,000 merchants and 20 million monthly unique visitors, will continue to operate under the same management team. The Multiply Marketplace was launched earlier this year to provide an easy way for sellers to be found by buyers within the Multiply network.
“We are delighted to have partnered with Naspers, a recognized world leader in e-commerce in Europe, Asia, Latin America and Africa, and to be able to draw from their expertise and resources as we solidify our leadership in the Social Shopping space in Southeast Asia,” said Peter Pezaris, Multiply’s president and CEO. “We are continuing to grow the Multiply Marketplace in the region, and Naspers’s backing will no doubt help us accelerate that growth.”