Takealot.com has purchased luxury goods online peddler Superbalist with part of the $100 million it received in venture capitalist funding from Tiger Global Management recently.
Superbalist will continue to operate independently, but will be owned 100% by Takealot according to BusinessTech, where the story first appeared.
The acquisition forms part of CEO Kim Reid’s ambition to expand into sub-saharan Africa and overtake Naspers-owned Kalahari.com as South Africa’s biggest online retailer.
Superbalist used to be called Citymob before being re-branded back in 2010. The site has become well-known for its wide selection of unique luxury goods offered to South Africans via the web, priced in rands. It’s also the place to go if you’re looking for such whacky things as camping tents decorated with the British national flag, a turntable in a suitcase and LEGO Star Wars Utapau Troopers.
[Source – BusinessTech]