Naspers Internet Unit Acquires Controlling Interest in Multiply, Inc. Multiply to remain focused on Social Shopping in Southeast Asia
BOCA RATON, Fla., Sept. 20 /PRNewswire/ -- 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 (http://multiply.com/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."
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 http://multiply.com.
SOURCE Multiply, Inc.