Update On :26 March 2016
Ringier Africa Deals Group, a newly-founded joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Ltd, announced that it has acquired one of NigeriaÃ¢Â€Â™s biggest online shopping platforms, DealDey.
The acquisition represents an expansion of Ringier AfricaÃ¢Â€Â™s portfolio beyond publishing and digital marketing in Nigeria and SilvertreeÃ¢Â€Â™s first e-commerce investment in the country. It sees the two companies invest significantly in NigeriaÃ¢Â€Â™s fast-growing multi-billion dollar e-commerce sector as part of their partnership in the Ringier Africa Deals Group.
DealDey, the online deals e-commerce 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.
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 JVÃ¢Â€Â™s partners, Ringier Africa and Silvertree, both come with 10+ yearsÃ¢Â€Â™ e-commerce experience. Their mutual aim is to lead the online deals businesses to continued success based on a long-term, joint plan. Key to this is the continued collaboration with local merchants and brands wanting to enter the markets Ã¢Â€Â“ while satisfying clientsÃ¢Â€Â™ needs for the best service and product offers online. Silvertree has already expanded its own e-commerce portfolio in South Africa, having acquired PriceCheck from Naspers in November of last year. Ringier AfricaÃ¢Â€Â™s mother company Ringier AG runs DeinDeal and Geschenkidee, the two biggest online deals and gifting platforms in Switzerland respectively.
Ringier Africa General Manager Leonard Stiegeler says: Ã¢Â€ÂœRingier 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 the space, with particular focus on serving the important markets of Nigeria, Ghana and Kenya.Ã¢Â€Â
Silvertree Co-Managing Director Paul Cook says: Ã¢Â€ÂœWe are extremely excited to be entering three of AfricaÃ¢Â€Â™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 AfricaÃ¢Â€Â™s emerging middle class. With RingierÃ¢Â€Â™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 AfricaÃ¢Â€Â™s e-commerce industry starts to mature and consumers look for world-class offerings, excellent customer service and great deals.Ã¢Â€Â
News Source From : http://dailypost.ng/2016/03/23/ringier-africa-deals-group-acquires-nigerian-online-shopping-platform-dealdey/
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