Inside South Africa's Homegrown Version of Amazon.com
Africa, one of the least Internet-connected places on the planet, has a growing interest in online retailing.
Much of it is concentrated in South Africa where Amazon.com lookalike Takealot.com is targeting an e-commerce market whose small size would make many U.S. tech firms shudder -- just $250 million for the whole country, according to the company.
In the U.S., e-commerce sales were $169 billion in 2010, according to Commerce Department figures released today.
Bloomberg's Ryan Chilcote takes us inside Takealot, which is bringing online shopping to South Africa and has expansion plans for other African countries, such as Nigeria, Kenya and Angola.