DealDey, Nigeria’s Online Shopping Platform, gets Acquired by Ringier Africa Deals Group

  Ringier Africa Deals Group, a recently formed joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Ltd, announced today its acquisition of DealDey, one of Nigeria’s biggest online shopping platforms. Renowned Nigerian online market DealDey was founded in 2011 by Sim Shagaya. The platform has over a million users, 15000 active merchants and 20000 listed businesses. According to Messrs. Kehinde Oriola & Etop Ikpe of DealDey, “The DealDey team is excited about joining forces with the newly-formed 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 e-commerce expertise towards supporting the sustainable growth of the group.” The purchasing holding company, Ringier Africa Deals Group, is a joint venture of Ringier Africa AG and Silvertree Internet Holdings (Pty) Ltd that combines the leading African online platforms Rupu of Kenya, Tisu of Ghana and the newly acquired DealDey of Nigeria. Speaking on this issue, Ringier Africa General Manager Leonard Stiegeler says: “Ringier Africa has identified e-commerce as a key area for growth and we are excited by the inclusion of DealDey in the Ringier Africa Deals Group. With the addition of e-commerce-experienced Silvertree as a partner and investor, we are on track to significantly increase our interest in space, with particular focus on serving the important markets of Nigeria, Ghana and Kenya.” With African consumers as a target, the Cape Town-based Silvertree Internet Holdings is an operating and holding company for early and mid-stage tech businesses. The company invests in ventures and focuses on the execution of simple, proven business models. Speaking of the benefits, Silvertree Co-Managing Director Paul Cook states: “We are extremely excited to be entering three of Africa’s most exciting e-commerce markets, through our partnership with Ringier and joint investment into DealDey, Rupu and Tisu. Through this deal, we get to build on excellent existing platforms as we look to serve Africa’s emerging middle class. With Ringier’s deep content expertise and African footprint, we look forward to further accelerating the growth of these exciting businesses. Our focus will be on rapid but sustainable growth as Africa’s e-commerce industry starts to mature and consumers look for world-class offerings, excellent customer service and great deals.” Acting CEO of RADG and current Head for Ringier Africa, Damien Bonnabel, will be working with the management of DealDey, with Kehinde Oriola continuing as the CEO of DealDey.  

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This article was first published on 23rd March 2016

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