This is pretty big news in the South African tech world. Ex iBurst CEO and now head of a VC company called World of Avatar, Alan Knott-Craig Jnr, today announced that they would be buying what could arguarly be one of South Africa’s sucess stories, MXit. There has been no value associated with the purchase price, but there are estimates in the 500 million mark.
MXit was founded in 1997 by Herman Heunis , who has taken it to almost 43 million subscribers. It is going to be really interesting to see what happens here, and how World Of Avatar continues to grow MXit amongst the social network platforms like Twitter & FB