Fabricio Bloisi assumed work as Chief Executive Officer (CEO), Prosus and Naspers Group on 1 July 2024 after a unanimous approval by the Boards of Prosus and Naspers, in a move expected to bolster its ecommerce trading.
Before his appointment he was he CEO of iFood which he acquired in 2013 when it was a 20-person start-up and grown it rapidly and profitably to become Brazil’s leading food delivery company.
According to Koos Bekker, Prosus and Naspers chair, “Backing exceptional entrepreneurs who improve people’s everyday lives through technology has brought us some success over the years. Fabricio is an entrepreneur with a proven track record. His appointment as CEO places innovation and entrepreneurship at the heart of the Group.
Fabrício Bloisi is the founder of Movile and the CEO of iFood, the leading food delivery company in Latin America. iFood has over 5,000 employees, 350,000 partner restaurants, works with over 300,000 delivery partner couriers, and serves over 96 million orders per month. iFood directly and indirectly moved U$20 billion in gross production value, impacting 0.53% of Brazil’s GDP in 2022.
Fabricio holds a degree in Computer Science from the State University of Campinas (UNICAMP) and a MBA from Getulio Vargas Foundation (FGV/EAESP). He took over from Ervin Tu who was the interim CEO for last eight months. Ervin will continue to play a critical role in shaping the Group’s future in a new position, President and Chief Investment Officer (CIO).
The Group is moving to consolidate its ecommerce trading profits. This year Naspers saw ecommerce profitability, an 18% revenue growth and US$836m free cash flow improvement. The Group saw an accelerated peer-leading topline growth of 18%, with ecommerce consolidated revenue of US$6.3bn with ecommerce profitability ahead of target, with a US$460m improvement in trading profit to US$24m. The Group’s free cash flow increased US$836m to US$477m, a 2x improvement year-on-year. The Group also had US$32bn of value created by the ongoing buyback programme, delivering 9% Net Asset Value per share accretion.