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'We’re not breaking even yet. It’s been 8 years. It’s not unusual'

26 February 2019 8:06 PM
Tags:
The Money Show
Bruce Whitfield
Online shopping
Online retailer
Takealot.com
Kim Reid
Shop the Future
e-retail
e retail

The Money Show's Bruce Whitfield interviews Takealot.com CEO Kim Reid at the “Shop the Future” e-retail event in Cape Town.

It takes money to build a scalable e-commerce business… We’re not breaking even yet. It’s been eight years now… This is not unusual… The prize at the end of it is what you’re aiming for…

Kim Reid, CEO - Takealot.com

Delivery is tough… That’s why we bought Mr Delivery and turned it into a courier company… We’re doing 1.2 million deliveries a month… roundabout 30 000 to 40 000 deliveries a day…

Kim Reid, CEO - Takealot.com

Takealot.com is South Africa’s largest online store.

The Money Show’s Bruce Whitfield interviewed its CEO, Kim Reid, for his weekly “How it Works” feature.

Reid was at the “Shop the Future” event in Cape Town on Tuesday.

He founded the company in 2010.

Listen to the interview in the audio below (and scroll down for more quotes from it).

I was at Naspers… I decided to start something on my own…

Kim Reid, CEO - Takealot.com

There’s nothing that complex about what we do…

Kim Reid, CEO - Takealot.com

We don’t have Amazon in the market…

Kim Reid, CEO - Takealot.com

We’re roughly at about R5.5 billion at the moment… In 5 years we’ll be in the region of about R20 billion… The market is big enough to get there…

Kim Reid, CEO - Takealot.com

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26 February 2019 8:06 PM
Tags:
The Money Show
Bruce Whitfield
Online shopping
Online retailer
Takealot.com
Kim Reid
Shop the Future
e-retail
e retail

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