Home Business Ringier & Silvertree Acquire Nigerian Online Shopping Platform ​DealDey

Ringier & Silvertree Acquire Nigerian Online Shopping Platform ​DealDey

by Sam Wakoba
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Ringier AG and South African Silvertree Internet Holdings (Pty) Ltd have acquired Nigeria’s biggest deals platform DealDey for an undisclosed amount.
The details of the partnership are sketchy but Silvertree and Ringier must be in a 50-50 deal as they plan to invest in more companies across Africa under the Ringier Africa Deals Group umbrella.
DealDey 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 ​today also comprises of the couponing  platform ​Promohub  and discovery platform ​ Lyf , both forming part of the acquisition.
DealDey Co­CEOs Kehinde Oriola & Etop Ikpe will also see slight changes. Kehinde Oriola will continue as the CEO of ​DealDey ​  as part of RADG, while Etop Ikpe will be  moving on to new ventures. We have contacted acting CEO of RADG, Damien Bonnabel, current Head of  e­Commerce for Ringier Africa and General Manager of Ringier Kenya for more details.
Ringier Africa Deals Group (RADG) now runs ​Rupu in Kenya,​ Tisu ​ out of Ringer Ghana. This deal gives Silvertree access to Rupu ​  and ​ Tisu ​ and now Dealdey. The partners aim to further accelerating the growth of these  exciting businesses and Africa’s e­commerce  industry.

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