Interview, Fireside Chat, Conference Presentation
Fabricio Bloisi, CEO of Prosus Group at RAISE 2025
- Fabricio is celebrating his one-year anniversary as CEO of Prosus, which has a market valuation of approximately $130 billion on the Amsterdam Stock Exchange.
- Prosus holds roughly 25% of Tencent's shares, a stake that now values around $60 billion, having originated from a South African print business's early investment in the Chinese tech giant.
- The company's immediate strategic goal is to reach a $200 billion valuation, with a long-term vision of building a €1 trillion European tech firm.
- Prosus is currently restructuring its culture for 30,000 to 40,000 employees to prioritize innovation, speed, and AI disruption, aiming to compete with the scale of American counterparts.
- Fabricio notes that iFood, a Prosus portfolio company, serves 70 million customers annually with over $20 billion in sales and 80-90% market share in Brazil.
- iFood operates with 200 AI models and executes approximately 13 billion data inferences per month to automate decisions regarding routing, fraud, and personalization.
- Prosus announced the creation of an AI house in Amsterdam, with a target investment of $15 billion over time to foster a European AI ecosystem.
- The company is pending regulatory approval for the acquisition of Just Eat Takeaway for $4 billion to consolidate its position in the European food delivery market.
- Fabricio critiques European regulation, arguing that antitrust authorities should focus on enabling global competitiveness rather than ensuring fair competition within Europe.
- Prosus plans to allocate a significant portion of its $18 billion cash reserves to acquisitions, specifically targeting food delivery, fintech, e-commerce, experience, and AI sectors.
- The company's profitability increased tenfold in the last year, attributed to AI-driven efficiency and automation across operations.
- Fabricio projects that Prosus headcount will increase despite AI integration, as the company aims to double its size while leveraging technology to scale services at lower costs.
- Prosus intends to spend $100 million annually on developing large commerce models that fine-tune open-source AI to capture transactional reasoning and user behavior.
- The company utilizes an internal system called "Token" which integrates enterprise data to allow employees to query internal knowledge via chat for operational support.
- Fabricio argues that while entry-level roles may face displacement, AI will primarily enable workers to become more productive, similar to the efficiency gains seen in elevators or digital media.
- Prosus aims to become a global leader in AI execution for e-commerce, asserting that companies failing to integrate AI into core operations will lose competitive relevance.