June 2, 2016 / 4:16 PM / in 2 years

Naspers invests $60 million in online-learning company Udemy to expand global reach

JOHANNESBURG (Reuters) - Media and e-commerce group Naspers, the largest listed company in Africa by market value, said on Thursday that it has invested $60 million in U.S. education-technology firm Udemy.

San Francisco-based Udemy has expanded overseas in the past year and Naspers said it offers more than 40,000 courses available in 80 different languages.

“Naspers is consistently looking to invest in markets where technology can make a significant impact. Udemy has built a technology platform that will transform education on a global scale and we are eager to help them with further expansion,” said Naspers Ventures CEO Larry Illg in a statement.

Naspers has transformed itself from an apartheid-era publisher into a $60 billion internet powerhouse by focusing on e-commerce in emerging markets.

Naspers Ventures made a $15 million investment in education-technology firm Brainly in May.

Reporting by Nqobile Dludla; Editing by Ruth Pitchford

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