Romanian entrepreneur Iulian Stanciu sells eMAG stake to Prosus

Romanian entrepreneur Iulian Stanciu has sold the stake he owned in eMAG Group to Naspers-owned consumer internet group and technology investor Prosus, 17 years after taking over the company and 14 years after the signing of the partnership with Naspers.

For Stanciu, the deals mark the transition from entrepreneur to investor as he will accelerate investments in “companies and projects that can create value added for Romania.” He will also focus on access to capital, mentorship, know-how, and connecting local companies to large markets. “The objective is to support entrepreneurship infrastructure that Romania needs in order to develop more companies able to become regional leaders,” an announcement explains.