DealDey Takeover Ringier Africa acquires DealDey to bolster new eCommerce subsidiary

DealDay, together with Ringier Africa’s other e-commerce platform Tisu.com.gh in Ghana and Rupu in Kenya will together form the newest subsidiary, Ringier Africa Deals Group, a joint venture between Swiss Ringier Africa AG and South African Slvertree Internet Holdings Ltd.

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Nigerian Online eCommerce Platform, DealDey play

Nigerian Online eCommerce Platform, DealDey

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Digital Marketing and Online giant, Ringier Africa has acquired the Nigerian online e-commerce platform DealDey.

DealDay, together with Ringier Africa’s other e-commerce platform Tisu.com.gh in Ghana and Rupu in Kenya will together form the newest subsidiary, Ringier Africa Deals Group, a joint venture between Swiss Ringier Africa AG and South African Slvertree Internet Holdings Ltd.

DealDey is one of a handful of players in Nigeria’s very fluid e-commerce space. The digital shopping site aggregates daily online discounts on popular goods and services. It brands itself as Sub-Saharan Africa’s largest online deals platform, naming “over 1 million users, 15,000 active merchants, and 20,000 verified listed businesses.” Alexa ranks the DealDay at 41 in Nigeria.

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Ringier Africa Deals Group is  enthused about the prospects of DealDey under Ringier and Silvertree leadership given that DealDey on its own was able to attract investment not less than $1 million from the Swedish investment firm Kinnevik in 2011.

Kinnevik followed that with $5 million in series B financing in 2015 with no equity percentage given for either round.

Ringier’s Stiegler named the acquisition as part of an expanding Africa strategy “to invest fully in four verticals within Africa: classifieds, content, digital marketing, and e-commerce.”

DealDey Co-CEOs Kehinde Oriola & Etop Ikpe say: “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.”

Silvertree Co-Managing Director Paul Cook says: “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 Ringer’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.”

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