MEDIA RELEASE PR41339
Naspers Internet Unit Acquires Controlling Interest in Multiply, Inc.
BOCA RATON, Fla., Sept. 20 /PRNewswire-AsiaNet/ --
Multiply to remain focused on Social Shopping in Southeast Asia
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
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."
About Multiply, Inc.
Based in Boca Raton, Florida, USA, Multiply offers its members an
integrated media management and social shopping solution with tools that
allow them to shop, and share personal content safely and securely with a
relevant audience. The only mainstream social network with a fully-integrated
e-commerce site, Multiply makes it easy for buyers and sellers to come
together in a secure environment. Members enjoy the benefit of permanent
storage and back ups of their original resolution media files. Multiply's
best of breed privacy controls appeal to a growing number of individuals who
are not only concerned with privacy issues surrounding other social networks,
but who value content created by their real-world friends and family.
Multiply is a unit of Naspers Limited. For more information, visit
SOURCE: Multiply, Inc.
CONTACT: Claudio Pinkus
Chief Strategy Officer of Multiply, Inc.
+1-310-254-7250
Claudio@multiply.com
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