MXit Bought By World Of Avatar
World of Avatar, an investment company led by Alan Knott-Craig Jnr, former iBurst CEO and son of former Vodacom CEO, has singed a deal seeing the company buying out 90% of the shares and becoming the holding company for MXit.
World of Avatar which owns shares in an array of local mobile and internet startups such as FSMS and Toodu, has bough out Herman Heunis, and MIH Holdings – a Naspers subsidiary, for a reported unconfirmed R500 million. Knott-Craig Jnr is set to take over the reigns as CEO from Heunis and said that he will not make drastic changes to the popular IM service in the coming few months. “In the short-term, we want MXit to maintain and grow its position as the largest mobile social network in Africa. This means a focus on consolidating and strengthening the core of the business before we move to implement the long- term strategy.” said Knot-Craig Jnr.
MXit currently has over 45 Million registered users in more than 12o countries making the largest social network in Africa. More MXit message gets send every day than tweets and users spend more time on MXit then they do on Facebook.
Congrats to Herman on selling, and good luck for the future to World Of Avatar.


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