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Rubybox walks out of Naspers’ Media 24 stable

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RUBYBOXTwo years ago online beauty trial and discovery platform Rubybox joined the Media 24 family bringing on board over 6 million local Unique Browsers every month with 49% of them females eager to get the various brands and services.

Today 24.com a division of Media24, announced a management-led buyout of rubybox.co.za from Media24 effective from 31 January 2015.

The buyout was led by Rubybox chief executive Sylvia Gruber who cofounded the platform alongside Margaux Knuppe in September 2011.

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“Our partnership with Rubybox has been valuable and we have a strong belief in the management team and their ability to develop the platform from here,” said Geoff Cohen, head of 24.com.

On his part Media24 chief executive Esmaré Weideman said Media24 remained committed to investing as well as growing its ecommerce portfolio to diversify operations.

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Weideman said: “While Rubybox no longer fits our ecommerce portfolio, we wish Sylvia and her team every success.”

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Susan Mwenesi
Susan Mwenesi
Interested in business, technology and all things startups in Africa!

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