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Within the bustling corridors of South Africa's global technology investor Naspers, new CEO Fabricio Bloisi eyes an ambitious goal - to double the company's valuation. As he commemorated his first 100 days as the leader of both Naspers and its international internet assets division, Prosus, he set forth a daring plan in a letter to shareholders to achieve that milestone.
Fabricio Bloisi stepped into the position in July, succeeding Ervin Tu. Bloisi's track record as former head of iFood - which he transformed from a modest team into Brazil's premier food delivery service - is a testament to his ability to scale businesses significantly and profitably.
Naspers has offered its new CEO, Fabricio Bloisi, a special once-off moonshot award worth $100 million (R1.8 billion) if he performs exceptionally well.https://t.co/HqKtakXyhm
— Daily Investor (@DailyInvestorSA) August 22, 2024
He encapsulated Naspers' aspirations by drawing from his wealth of experience, stating, "I am proud that we have grown iFood into one of the largest and most successful brands in Latin America." Naspers' faith in Bloisi lies in his entrepreneurial spirit and proven success within growing markets - characteristics that he aims to transfer to his role at Naspers and Prosus.
Bloisi's recent communications reflect his optimism about the trajectory of the company, which is estimated to be worth around $100 billion. He's envisioning a future in which Prosus generates an additional $100 billion by investing in dynamic, profitable businesses and delivering substantial returns to shareholders.
In pursuit of rapid growth and increased profitability, Bloisi has merged insights from his comprehensive engagement with the company's divisions with strategic initiatives to establish a sustainable roadmap to prosperity. One of those key strategies involves the innovative use of artificial intelligence (AI) to amplify the company's capabilities - a philosophy already paying dividends in businesses like iFood and OLX.
In terms of operations, Bloisi's tenure so far has seen the introduction of a new management model, fostering accelerated action, innovation, and a more intertwined group of businesses. His commitment to communication and engagement across the company is founded on novel management "rituals" aimed at enhancing synchronization within the corporate structure.
Under his leadership, the company has reported strong and profitable growth, particularly in its eCommerce sector, which has seen revenue acceleration and a substantial increase in Adjusted EBIT. This impressive performance and the strategic direction under Bloisi's guidance point to an optimistic future for the company.