The news had an air of inevitability about it - we predicted that this would be the direction Mxit would take back in February - but it's a far cry from the hype that surrounded the company just four years ago when Alan Knott-Craig Jr acquired it from Naspers and founder Herman Heunis in a deal rumoured to be worth around R500-million.
So how did it all go so wrong?
As with any company collapse it's impossible to pin down a single determining factor...
Continue reading the full article here.
