Naspers commits to invest $500 mln in letgo

New York-based letgo, which operates a peer-to-peer marketplace to buy and sell goods locally, announced that Naspers has committed to invest $500 million into the company, $150 million of which was transferred earlier this summer. The company, founded in 2015, previously raised more than $475 million from Naspers, Accel, Insight Venture Partners, New Enterprise Associates, 14W, Eight Roads Ventures and other investors.

Source: Letgo press release