Ringier Africa acquires Nigerian online shopping platform DealDey
AA – Ringier Africa Deals Group, a newlyfounded joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Ltd, today announces it has acquired one of Nigeria’s biggest online shopping platforms, DealDey. The acquisition represents an expansion of Ringier Africa’s portfolio beyond publishing and digital marketing in Nigeria and Silvertree’s first ecommerce investment in the country. It sees the two companies invest significantly in Nigeria’s fastgrowing multibillion dollar ecommerce sector as part of their partnership in the Ringier Africa Deals Group.
DealDey, the online deals ecommerce platform, was launched in 2011 by serial entrepreneur Simdul Shagaya together with Investment AB Kinnevik. With over 1 million users, 15,000 active merchants and 20,000 verified listed businesses, DealDey is the largest online deals business in the region. In addition to its core platform, DealDey today also comprises of the couponing platform Promohub and discovery platform Lyf, both forming part of the acquisition.
DealDey CoCEOs Kehinde Oriola & Etop Ikpe say: “The DealDey team is excited about joining forces with the newlyformed Ringier Africa Deals Group. It offers great opportunities as DealDey brings a wealth of experience in technology, merchant management and consumer behaviour in Nigeria and we will be leveraging the Ringier Africa portfolio in marketing, classifieds and media as well as Silvertree’s ecommerce expertise towards supporting the sustainable growth of the group.”
Kehinde Oriola will continue as the CEO of DealDey as part of RADG, while Etop Ikpe will be moving on to new ventures. As acting CEO of RADG, Damien Bonnabel, current Head of eCommerce for Ringier Africa and General Manager of Ringier Kenya, will be working with the management of DealDey and the group’s other companies.
Ringier Africa Deals Group (RADG), the purchasing holding company, has been created by a carve out of the leading Kenyan online deals business Rupu out of Ringier Kenya and of the leading Ghanaian online deals platform Tisu out of Ringer Ghana. The JV’s partners, Ringier Africa and Silvertree, both come with 10+ years’ ecommerce experience. Their mutual aim is to lead the online deals businesses to continued success based on a longterm, joint plan. Key to this is the continued collaboration with local merchants and brands wanting to enter the markets while satisfying clients’ needs for the best service and product offers online. Silvertree has already expanded its own ecommerce portfolio in South Africa, having acquired PriceCheck from Naspers in November of last year. Ringier Africa’s mother company Ringier AG runs DeinDeal and Geschenkidee, the two biggest online deals and gifting platforms in Switzerland respectively.
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