Mxit has announced the immediate departure of CEO Alan Knott-Craig Jr, and a “R100-million investment”. Arthur Goldstuck (@art2gee) unravels the shock move.
Alan Knott-Craig Jnr has stepped down as CEO of Mxit, barely a year after he bought it through his investment company, World of Avatar (WoA). He is also departing WoA.
“While the shareholders and I share the same vision, we differ on how to get there. Therefore, I agreed to go my own way. I wish them all the best for the future. Mxit is Africa’s biggest tech success story, and can be a global success story,” said Knott-Craig Jnr in a statement issued yesterday afternoon. The statement added that he would not be drawn further on the issue, suggesting that the terms of his departure include a confidentiality clause.
His departure comes as a shock, as he was seen as being heavily invested on an emotional level in the future of Mxit and social networking in Africa – as evidenced by his book Mobinomics, jointly authored with Gus Silber.