Recently I had the privilege of meeting with Donna Stephens, Head of Marketing & Customer Service at eRetailer TAKEALOT.com (previously knows as Take2). We met to discuss :
1) A name change,
2) The public disclosure of the ambitious goals at TAKEALOT.com
Based on this discussion I thought it a good idea to present a perspective related to how well TAKEALOT.com is positioned to achieve these goals.
In October 2010 Cape Town based e-retailer Take2 was co-acquired by Kim Reid (former Naspers senior executive) together with New York based hedge fund, Tiger Global Management. The tripartite partnership seems to have the internal equilibrium needed to change the landscape of e-retailing not just in SA but in Africa. The acquisitions fit neatly into the [assumed] strategy of Tiger Global Management who have more than US $ 9.5billion under their control and who have been steadily investing in emerging market internet-related businesses. Kim Reid seems the ideal candidate to man-ship given his considerable depth of experience with the Naspers owned MIH Group, no stranger themselves to investing in emerging internet-related businesses. Then there is Take2, a company started by seven investors in Cape Town in 2002. Take2 quickly moved to the position of SA’s second biggest online retailer, selling books, DVD’s, games, CD’s electronics, toys and much more … with what I am told is a very loyal consumer base.
On announcement of, without doubt, very ambitious goals the media responded with what could be best describe as ‘stoking the fire,’ perhaps to determine just how much of a threat TAKEALOT.com represents to established and market leading e-retailer Kalahari.net. After-all there is an old saying that goes: ” If you try to steal the giants lunch, the giant is likely to eat you for lunch.” In this case I assume that by announcing the following goals…. (more…)